Paul Ryan: Obama has 'record of failure'

In this April 2, 2012, photo, Republican presidential candidate Mitt Romney listens at left as House Budget Committee Chairman Rep. Paul Ryan, R., Wis., speaks in Milwaukee.

Associated Press

In this April 2, 2012, photo, Republican presidential candidate Mitt Romney listens at left as House Budget Committee Chairman Rep. Paul Ryan, R., Wis., speaks in Milwaukee.

NORFOLK, Va. — His selection just hours old, Republican Mitt Romney's vice presidential pick, Wisconsin Rep. Paul Ryan, was already tearing into President Barack Obama's "record of failure."

Moving into a role as Romney's chief attack dog, Ryan declared Saturday that the nation under Obama's leadership is struggling through the "worst economic recovery in 70 years."

"No one disputes President Obama inherited a difficult situation," Ryan said, standing at Romney's side for the first time as the Republican presidential ticket on the USS Wisconsin, a retired battleship. "And, in his first two years, with his party in complete control of Washington, he passed nearly every item on his agenda. But that didn't make things better."

Romney selected the 42-year-old Ryan, a seven-term congressman, from a short list that included Ohio Sen. Rob Portman, former Minnesota Gov. Tim Pawlenty, Florida Sen. Marco Rubio and Virginia Gov. Bob McDonnell.

Ryan is the architect of a conservative and intensely controversial long-term budget plan to remake Medicare and cut trillions in federal spending.

His selection immediately thrusts those budget plans into the forefront of the presidential contest.

Obama campaign manager Jim Messina called Ryan is the "architect of the radical Republican House budget" proposal and said the plan "would end Medicare as we know it."

"We won't duck the tough issues," Ryan said. "We will lead."

The congressman blamed Obama for the nation's unemployment rate that has exceeded 8 percent for more than three years, the longest run since the Great Depression.

"Higher unemployment, declining incomes and crushing debt is a not a new normal. It is a result of misguided policies," Ryan said.

Romney initially made his announcement to supporters via a phone app. "Mitt's Choice for VP is Paul Ryan," it said and implored backers to spread the word.

One campaign official said Romney had settled on Ryan as his pick on Aug. 1, more than a week ago, and informed Beth Myers, the longtime aide who had shepherded the secretive process that led to the selection. The official spoke on condition of anonymity to provide details.

Ryan is chairman of the House Budget Committee, and primary author of conservative tax -and-spending blueprints that the tea party-infused Republican majority approved over Democratic opposition in 2011 and again in 2012.

It envisions transforming Medicare into a program in which future seniors would receive government checks that they could use to purchase health insurance. Under the current program, the government directly pays doctors, hospitals and other health care providers.

Ryan and other supporters say the change is needed to prevent the program from financial calamity. Critics argue it would impose ever-increasing costs on seniors.

Other elements of the budget plan would cut projected spending for Medicaid, which provides health care for the poor, as well as food stamps, student loans and other social programs that Obama and Democrats have pledged to defend.

Ryan's budget plan died in the Democrat-controlled Senate.

"Our rights come from nature and from God, not government," Ryan said. "That's who we are. We promise equal opportunity, not equal outcomes."

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Comments » 57

RayPray writes:

in response to GorchFock:

(This comment was removed by the site staff.)

The GREAT Obama is definitely Jesus with a tan.

But how can you neglect to praise the second half of this sparkly team, Joe "Blood & Guts" combat hero Biden?

In the VP debates, what chance will poor Ryan have against the intellectual might of Goldy Locks (Kinnock, who?) Joe?

1Paradiselost writes:

Let me ask the party of NO what they have done?

1Paradiselost writes:

Steel mill polluted town as Romney firm profited!

http://xfinity.comcast.net/articles/n...

He should be sent to jail!

ajm3s writes:

in response to 1Paradiselost:

Let me ask the party of NO what they have done?

I guess you have not been reading the bills being passed in the House of Representatives that are NOT being debated in the Senate.

ajm3s writes:

in response to 1Paradiselost:

Steel mill polluted town as Romney firm profited!

http://xfinity.comcast.net/articles/n...

He should be sent to jail!

All this for Goethite pollution?

LOL

1Paradiselost writes:

in response to ajm3s:

I guess you have not been reading the bills being passed in the House of Representatives that are NOT being debated in the Senate.

Do-nothing house heads home

Congress should be doing all that it can to help create jobs, expand economic opportunity for middle-class families, and take on America’s challenges. Senate Democrats have succeeded in passing bill after bill that would cut taxes for the middle class and strengthen the economy. Rather than doing its part, the Republican House has gone on summer vacation, stranding Senate bills and leaving the American people in the lurch

MIDDLE CLASS TAX CUTS: Senate Democrats Passed Legislation to Cut Taxes for 114 Million Middle Class Families. Senate Democrats led the passage of legislation to extend middle-class tax cuts for the 98% of Americans making less than $250,000, preventing a $1,600 tax hike on 114 million middle-class families. House Republicans are willing to add nearly $1 trillion to the deficit and hit 25 million families with a tax hike by ending credits for raising children and paying for college. [Vote 184, 7/25/12; National Economic Council, 7/12

VIOLENCE AGAINST WOMEN ACT : Senate Democrats Passed Legislation to Reduce the Incidence of Violence Against Women. In April, Senate Democrats passed reauthorization of the Violence Against Women Act, which enhanced emphasis on prevention and response to sexual assault and extended VAWA protections to all Americans. House Republicans have been unwilling to act on the Senate’s bipartisan, inclusive bill. In the time since the Senate passed its bill, there have been over 1.2 million incidents of violence against women. [Vote 87, 4/26/12; CQ, 4/26/12

http://democrats.senate.gov/2012/08/0...

ajm3s writes:

in response to 1Paradiselost:

Do-nothing house heads home

Congress should be doing all that it can to help create jobs, expand economic opportunity for middle-class families, and take on America’s challenges. Senate Democrats have succeeded in passing bill after bill that would cut taxes for the middle class and strengthen the economy. Rather than doing its part, the Republican House has gone on summer vacation, stranding Senate bills and leaving the American people in the lurch

MIDDLE CLASS TAX CUTS: Senate Democrats Passed Legislation to Cut Taxes for 114 Million Middle Class Families. Senate Democrats led the passage of legislation to extend middle-class tax cuts for the 98% of Americans making less than $250,000, preventing a $1,600 tax hike on 114 million middle-class families. House Republicans are willing to add nearly $1 trillion to the deficit and hit 25 million families with a tax hike by ending credits for raising children and paying for college. [Vote 184, 7/25/12; National Economic Council, 7/12

VIOLENCE AGAINST WOMEN ACT : Senate Democrats Passed Legislation to Reduce the Incidence of Violence Against Women. In April, Senate Democrats passed reauthorization of the Violence Against Women Act, which enhanced emphasis on prevention and response to sexual assault and extended VAWA protections to all Americans. House Republicans have been unwilling to act on the Senate’s bipartisan, inclusive bill. In the time since the Senate passed its bill, there have been over 1.2 million incidents of violence against women. [Vote 87, 4/26/12; CQ, 4/26/12

http://democrats.senate.gov/2012/08/0...

I would be more impressed but the list is quite short considering your list is eerily similar to the talking points of ..........

I guess you are not impressed with the list of bills that have passed the House but are NOT even acted upon in the Senate while they are in session. Do you really want to keep score of the number of bills passed by the House and sent to the Senate that are not brought to the floor?

And speaking of leaving the House, I was really impressed when the Democrats staged a walkout this summer, rather than actually casting a vote. Now that is what I call dereliction of duty-walking out rather than casting a NO vote. Mr. Hoyer/Ms Pelosi lament this is NOT due process, this is about fairness, so they walk out and DO NOT even vote.

http://video.msnbc.msn.com/nbc-news/4...

COWARDS? I cannot play a smaller violin to commemorate the crying and lamenting by the House Democratic minority leadership.

LOL

1Paradiselost writes:

in response to ajm3s:

I would be more impressed but the list is quite short considering your list is eerily similar to the talking points of ..........

I guess you are not impressed with the list of bills that have passed the House but are NOT even acted upon in the Senate while they are in session. Do you really want to keep score of the number of bills passed by the House and sent to the Senate that are not brought to the floor?

And speaking of leaving the House, I was really impressed when the Democrats staged a walkout this summer, rather than actually casting a vote. Now that is what I call dereliction of duty-walking out rather than casting a NO vote. Mr. Hoyer/Ms Pelosi lament this is NOT due process, this is about fairness, so they walk out and DO NOT even vote.

http://video.msnbc.msn.com/nbc-news/4...

COWARDS? I cannot play a smaller violin to commemorate the crying and lamenting by the House Democratic minority leadership.

LOL

Yea like trying to vote down Obama care 47 times, and not voting for a jobs bill. Do you think women should be beat up, have no rights? You guys are a joke killing America!

1Paradiselost writes:

in response to Genuine:

(This comment was removed by the site staff.)

Saying one thing and doing another. Just keep drinking the Kool-Aid. They will lead us all off the cliff, let alone have a trade war with China. You know the country that holds 4% of Americas debt.

Ones a tax cheat that does not even invest in his own country AMERICA. The other just started to shave.

Not blaming others...The kid voted FOR the stimulus program AND the auto bailout. He also voted for the unfunded Medicare program during the Bush administration and two unfunded wars.

A conservative, I think not! Their record speaks for itself. This is a bad joke.... your going to get Obama again. And you believe the BS, tastes like Jonestown Cola yum, drink some more...

These guys couldn't shine the great Ronald Reagan's shoes!

RayNetherwood writes:

Ryan can run rings around Obama and Biden with his eyes closed.

Five things O-dumdum doesn't want you to know about him. 1. He's a crook ... got away with the Chicago house deal (thanks Tony Rezko). 2. He's probably not eligible to be president ... place of birth aside, on what passport did he travel/live in Indonesia on? 3. He applied to college(s) as a non-US citizen. 4. He was a miserable student and constantly skipped courses and got "coverage" because of race. 5. He is our first Affirmative Action president proving his incompetence over and over, he's not worthy to fuel AF One, let alone ride in it.

ajm3s writes:

in response to 1Paradiselost:

Yea like trying to vote down Obama care 47 times, and not voting for a jobs bill. Do you think women should be beat up, have no rights? You guys are a joke killing America!

If you believe us "guys" are killing America, I guess the gender has been defined and now it is a war on women, oops that is the new Obama campaign focus.

Well, your focus is short sighted, because you actually believe I would agree to your rhetorical "women should be beat up, have no rights"

Classic hyperbole. Excuse me, if I look at your comments with a jaundiced eye. But then again, if I follow the logic from the Democratic leadership that woman have a right to contraceptives? Really, a right?

As a woman, I have no rights? If I do not have rights, then the transgendered are really screwed!

Which leads me back to the theme of protection, do I get a gun or free contraception.

WizeOlMarco writes:

The only paycheck Representative Paul Ryan ever received in his working career is from a government agency.

26yearsonmarco writes:

Hey Folks, I'm getting tired of waiting for the KLAUS explanation of how Obamee's net worth grew from $400K in 2002 to $11M today.

Can anybody help Klaus out???

1Paradiselost writes:

in response to 26yearsonmarco:

Hey Folks, I'm getting tired of waiting for the KLAUS explanation of how Obamee's net worth grew from $400K in 2002 to $11M today.

Can anybody help Klaus out???

And I'm waiting for you to tell us which president wasn't a millionaire after their first term?

1Paradiselost writes:

in response to GorchFock:

(This comment was removed by the site staff.)

Under 'The Ryan Plan" seniors will have to pay 68% of their Medicare costs..

No thank! you can keep him!

WhiskeyTangoFoxtrot writes:

in response to 1Paradiselost:

Saying one thing and doing another. Just keep drinking the Kool-Aid. They will lead us all off the cliff, let alone have a trade war with China. You know the country that holds 4% of Americas debt.

Ones a tax cheat that does not even invest in his own country AMERICA. The other just started to shave.

Not blaming others...The kid voted FOR the stimulus program AND the auto bailout. He also voted for the unfunded Medicare program during the Bush administration and two unfunded wars.

A conservative, I think not! Their record speaks for itself. This is a bad joke.... your going to get Obama again. And you believe the BS, tastes like Jonestown Cola yum, drink some more...

These guys couldn't shine the great Ronald Reagan's shoes!

1PL is the only one here that gets it. It's all just a show to continue the advancement of power in DC. The Ryan plan is really no better than the Obama plan regarding health care. Neither party will tackle the real core problems in the health care industry. Ryan is lying to everyone over 55. He says there will be no change to their benefits. That is mathematically impossible when health care costs are rising at 9.2% every year.

By the time all you people stop arguing mule or elephant, it will be too late. As mathematics and reality will have taken a firm grip on the developed nations of the world. Reality and common sense are long gone. The people in charge are so arrogant they believe they can change the laws of mathematics. Giving a broke country emergency loans to make its interest payments while it increases taxes and regulatory fees on business while having to cut government jobs that should never have existed in the first place will somehow lead to growth and an increase in gdp so the broke nation will somehow be able to pay back all of the debt some day. Really? Let me know how that works out.

Austerity will become a household word in this country after this election no matter who wins. I can already hear Obama or Romney saying on tv, "all us Americans are going to have to accept tough choices". I'm still anxious to see how 50 million people on food stamps and 13 million (likely more) unemployed react to a reduction in their benefits! Maybe that's why DHS is buying up all the ammo? (Google is your friend)

World markets don't even care about the health of corporations they invest in. It's just momentum chasing and prayers of more liquidity injections from central banks that fix nothing in the core of the economy. This will work until it doesn't. That time is near.

26yearsonmarco writes:

To WhiskeyTangoFoxtrot:

I believe you are exactly right, and we are heading for the Cliff regardless of who becomes the next President, and no one seems to have an answer.

The reaction of the poor and unemployed will make the Sixties riots in cities like Newark NJ look like a picnic.

As far as the responses from my question regarding Obamees Net Worth by Klaus and 1Paradiselost:

What does Other Presidents worth, and Bush's Net worth, have to do with the fact that Obamees net worth grew to $11M. The question is: How did he EARN it.

1Paradiselost writes:

in response to 26yearsonmarco:

To WhiskeyTangoFoxtrot:

I believe you are exactly right, and we are heading for the Cliff regardless of who becomes the next President, and no one seems to have an answer.

The reaction of the poor and unemployed will make the Sixties riots in cities like Newark NJ look like a picnic.

As far as the responses from my question regarding Obamees Net Worth by Klaus and 1Paradiselost:

What does Other Presidents worth, and Bush's Net worth, have to do with the fact that Obamees net worth grew to $11M. The question is: How did he EARN it.

Your just to dumb to get the point. I should turn you in to the IRS!

26yearsonmarco writes:

in response to 1Paradiselost:

Your just to dumb to get the point. I should turn you in to the IRS!

Point???? What Point?????

All you seem to do is respond to other posts in a very negitive and insulting manner.

I have yet to read one original thought from you.

Do you have any???

1Paradiselost writes:

in response to 26yearsonmarco:

Point???? What Point?????

All you seem to do is respond to other posts in a very negitive and insulting manner.

I have yet to read one original thought from you.

Do you have any???

How many times have egged on Klaus and others here?

Your words could be interpreted by some as being a bully or even worst, a stalker.

BTW. The last president that was not a millionaire after their first term was Harry Truman.

And your not insulting? The following are your words not mine....
Dated 8/06/12.... "I understand Michelle is competing in the Tree Climbing Event.

Are you going to hang around and “Root” for her to get the Top Banana"??

Here's an original thought from me, With a comment like that your either a racist or a 6 year old!

WhiskeyTangoFoxtrot writes:

26yearsonmarco,
The answers are right in front of us. No one wants to accept it. Certainly not the people in DC that need to please everyone in order to keep the greatest job on the planet. I'm not sure even if acceptance became wide spread consensus that we haven't already stepped over the cliff.

1PL,
not sure why you quoted me there. Nor why you attacked 26years, but you have proved my point. Divide and conquer has worked well. Keep arguing ideology while facts and reality are knocking at the door.

RayNetherwood writes:

Ok, given the fact that the country is in deep doo doo .... who do we want to try to sort the mess out? The obviously clueless or two guys who might be able to prevent a total meltdown?

Obama and Biden are clueless (and always have been, it's just a little more obvious now).

WhiskeyTangoFoxtrot writes:

I should expand. The answer is free markets creating price discovery. NOT, central planning and credit creation controlling prices, inflation, or deflation. This is a recipe for disaster. Ask the Russians or the Chinese. The Chinese are always a misstep by central planners from revolution.

While I opine what 50 million Americans and 13 million more unemployed will do when their benefits are cut. The real question is, will their benefits be cut? If Russia offers any insight, it is the seniors who should worry. They were hardest hit when Russia went broke. Who better to screw than the old? What are they going to do? Break out there walkers and canes?

No matter. The a-- vs elephant will never end until the people wake the hell up. Then it will be too late.

Maybe that's the reason the Obama administration is still trying to pass NDAA? Maybe that's the reason Homeland security is buying up all the ammo in the country? (Google is your friend) Maybe "wake the hell up" is closer than I think. Maybe soon I could be arrested for thinking these thoughts and putting them into print? Maybe? Maybe not? If history is any indicator and the administration has it's way. I will be labeled a terrorist and jailed without due process. No, I don't think a Romney administration will be any different. Only the rhetoric will be different. Exactly what Thomas Jefferson had hoped for. <sarc

It will be said what I just wrote could never happen now, it's different now. That could never happen here. The real reason is those thoughts scare the f^c% out of 99% of the people. So there is always hope. History says your wrong. Didn't a majority vote based on hope a few years ago? I wonder if Nero ever spoke of hope? I bet he did.

26yearsonmarco writes:

in response to 1Paradiselost:

How many times have egged on Klaus and others here?

Your words could be interpreted by some as being a bully or even worst, a stalker.

BTW. The last president that was not a millionaire after their first term was Harry Truman.

And your not insulting? The following are your words not mine....
Dated 8/06/12.... "I understand Michelle is competing in the Tree Climbing Event.

Are you going to hang around and “Root” for her to get the Top Banana"??

Here's an original thought from me, With a comment like that your either a racist or a 6 year old!

I am not egging Klaus on, I just want his answer to my question regarding Obamees net worth, which neither of you seem to know.
Both Truman and Ragan were, in my opinion, the best Presidents we have ever had.
I extremely happy not to be 6 yrs. old again, but my Grandchildren are in that age bracket, and I worry about them every day.
I guess I became racially biased in the mid-sixties while taking gun shots from those tree climbers in the city I was born in, and watched them burn it down. It’s been a ghetto ever since.
You need to start paying more attention to where this Country is heading under Obamee, even though it may be too late for anyone to fix it.

WhiskeyTangoFoxtrot writes:

in response to RayNetherwood:

Ok, given the fact that the country is in deep doo doo .... who do we want to try to sort the mess out? The obviously clueless or two guys who might be able to prevent a total meltdown?

Obama and Biden are clueless (and always have been, it's just a little more obvious now).

Given the fact that the double R ticket will be little different than the OB ticket it is time we the people demand REAL change in DC. Term limits are the most important change I can think of. There are others but basically a return to a constitutional government. Career politicians aren't the way forward. I'm not sure how this is going to be done short of revolution and, 99% of the people don't care as long as the table has food and the TV is on, the i-phone, and i-pad are near by. Bread and circuses of the modern age.

I can't answer your question marcobiker. I'm not optimistic. 99% of people think the same way. Vote for the lesser of two evils, and hope. I hope I'm wrong.

David Stockman was Reagans budget director. He has something to say about the Ryan plan.
http://www.nytimes.com/2012/08/14/opi...

26yearsonmarco writes:

in response to WhiskeyTangoFoxtrot:

Given the fact that the double R ticket will be little different than the OB ticket it is time we the people demand REAL change in DC. Term limits are the most important change I can think of. There are others but basically a return to a constitutional government. Career politicians aren't the way forward. I'm not sure how this is going to be done short of revolution and, 99% of the people don't care as long as the table has food and the TV is on, the i-phone, and i-pad are near by. Bread and circuses of the modern age.

I can't answer your question marcobiker. I'm not optimistic. 99% of people think the same way. Vote for the lesser of two evils, and hope. I hope I'm wrong.

David Stockman was Reagans budget director. He has something to say about the Ryan plan.
http://www.nytimes.com/2012/08/14/opi...

I plan to hold my nose and vote for Romney the same way I voted for McCain.

Unfortunately, it's our only choice.

Here is another analysis of the Ryan Budget, but at least it's a Budget, and not just a spending spree like we have been on for the last 4 years.

http://finance.yahoo.com/news/poor-po...

If "We the People" have become so weak and dependent that we cannot take care of ourselves, than it’s our own fault.

WhiskeyTangoFoxtrot writes:

in response to 26yearsonmarco:

I plan to hold my nose and vote for Romney the same way I voted for McCain.

Unfortunately, it's our only choice.

Here is another analysis of the Ryan Budget, but at least it's a Budget, and not just a spending spree like we have been on for the last 4 years.

http://finance.yahoo.com/news/poor-po...

If "We the People" have become so weak and dependent that we cannot take care of ourselves, than it’s our own fault.

I too put the stick between my teeth for McCain. Not this time. Here's why.
Lets stick with health care. Why is Government involved at all in health care. Why do we let drug companies lobby for laws that lock out competition? What is wrong with competition? Take away medicare and medicaid for all but the truly needy. That happens and health care costs will collapse. That leaves insurance for the people that want it to be used for what it was designed. Catastrophic events. Basic care will be affordable to almost all. Open insurance across state lines. Competition again.

I can't say this enough. Competition Competition Competition Competition Competition Competition, Free markets Free markets Free markets Free markets Free markets Free markets, this brings another dead trait of capitalism, Price discovery Price discovery Price discovery Price discovery Price discovery Price discovery. All this is brought about by... Smaller Government Smaller Government Smaller Government Smaller Government Smaller Government Smaller Government Smaller Government.

I don't think Romney or Ryan agree with any of the above. I know Obama doesn't. So I will sit this one out. Maybe vote for the libertarian candidate. Not because I like him, just to exercise my right to vote. I absolutely believe 100% that this will be the last traditional 2 party election in this country. I'm not alone. Things are going to get ugly in the next 4 years. Mathematics, reality, and markets are all going to come home to roost in the next 4 years. No matter who wins.

1Paradiselost writes:

"Paul Ryan’s Fairy-Tale Budget Plan". By David A. Stockman, who was the director of the Office of Management and Budget from 1981 to 1985 Under Ronald Reagan.

http://www.nytimes.com/2012/08/14/opi...

Is this the best we can do?

WhiskeyTangoFoxtrot writes:

in response to 1Paradiselost:

"Paul Ryan’s Fairy-Tale Budget Plan". By David A. Stockman, who was the director of the Office of Management and Budget from 1981 to 1985 Under Ronald Reagan.

http://www.nytimes.com/2012/08/14/opi...

Is this the best we can do?

Thanks for reposting that link. Pretty much sums it up. Read some of Stockmans other stuff. He shares my optimism.

26yearsonmarco writes:

To: WhiskeyTangoFoxtrot:

This news is a prime example of why we are in the situation where the Good Ole Boys rule the roost:

http://www.marconews.com/news/2012/au...

We the People had an opportunity to upgrade government services and reduce cost, but We the People Blew It.

"On an On it Goes, Where it Stops nobody knows".

WhiskeyTangoFoxtrot writes:

in response to GorchFock:

(This comment was removed by the site staff.)

Europe first! Or maybe Japan. Time will tell.

26yearsonmarco writes:

If you are looking for a good time clock, keep an eye on this chart.

http://www.kitco.com/charts/livegold....

26yearsonmarco writes:

Klaus,

I'm still waiting for an answer to the $11M question!!!!

1Paradiselost writes:

in response to 26yearsonmarco:

Klaus,

I'm still waiting for an answer to the $11M question!!!!

26.... You asked me the same question as Klaus.. Here is the ans.

http://www.howtosavemoney.com/how-muc...#.UCwgq6Dtq9s

This should put the question of how much is Obama worth to bed. BTW as per his tax returns......

I have a question for you.. How much is Romney worth? Maybe you have the inside track on this TAX RETURNS!

WhiskeyTangoFoxtrot writes:

in response to GorchFock:

(This comment was removed by the site staff.)

Klaus,
I do not hope for this. It is just the way it is. It's not just America. I fully understand this is a global problem. The small thinkers and ones with no imaginations are the central banks and the politicians of the world. They have only one goal. Power!

I guess it is a flaw of the human race. We do not learn from history and are doomed to repeat it. Over and over again. Maybe we are improving? Wars and monetary crisis seem to be less frequent today.

WhiskeyTangoFoxtrot writes:

in response to 26yearsonmarco:

If you are looking for a good time clock, keep an eye on this chart.

http://www.kitco.com/charts/livegold....

26,
I do pay attention to that chart. I am sure the line on that chart will head skyward when nations go broke and bond yields skyrocket as the central banks go for broke with massive bond purchases and liquidity injections. But what happens to that chart when that fails and the deflationary spiral turns into a black hole? Helicopter Ben has a plan but it won't do any good at that point.

26yearsonmarco writes:

in response to WhiskeyTangoFoxtrot:

26,
I do pay attention to that chart. I am sure the line on that chart will head skyward when nations go broke and bond yields skyrocket as the central banks go for broke with massive bond purchases and liquidity injections. But what happens to that chart when that fails and the deflationary spiral turns into a black hole? Helicopter Ben has a plan but it won't do any good at that point.

I did very well with gold during Obamees first 3 years, because I knew he would drive up inflation, until it flattened out at the end of last year. The best things out there now are the high yields REIT's and will remain so until Uncle Benny B decides to raise interest rates, which I doubt he is able to do.

By the way, did you notice 1Paradise lost answered my question for Klaus?? Obama earned all his $$$ by writing books, which I'm sure he hired an author to do. The story also says Obama has not reported his 2011 tax returns, but he is all over Romney for not reporting his.

The BS just goes on and on, while Rome burns.

WhiskeyTangoFoxtrot writes:

in response to 26yearsonmarco:

I did very well with gold during Obamees first 3 years, because I knew he would drive up inflation, until it flattened out at the end of last year. The best things out there now are the high yields REIT's and will remain so until Uncle Benny B decides to raise interest rates, which I doubt he is able to do.

By the way, did you notice 1Paradise lost answered my question for Klaus?? Obama earned all his $$$ by writing books, which I'm sure he hired an author to do. The story also says Obama has not reported his 2011 tax returns, but he is all over Romney for not reporting his.

The BS just goes on and on, while Rome burns.

On the bright side Corzine won't be prosecuted for anything and is now about to start a hedge fund. It's all becoming a sick joke. I don't see myself going to the polls in November. It no longer matters.

Helicopter Ben can't drive rates up. Not now, not ever. The rise in interest payments on the debt would destroy the federal budget, health care will do that by itself soon. The market can demand higher rates, and it will. Ben will buy treasuries hand over fist to keep yields down but, that can't go on forever. It will destroy the Dollar and cause commodities (gold) to skyrocket. I'm anxious to get this election over. The American people are going to be told bits and pieces of reality once we get into 2013. They're not going to like it.

August8 writes:

See what Klaus and his Crat pal's think about this Obama Plan.
After 2014, the sale of your primary residence will be taxed 3.7% to pay for someone elses health care.You had to pass the bill to find out what is in it, well Klaus better make plans to move back to Germany or Keya you only have about 18 months.
How do ya like those apples?

Mayor_McCheese writes:

in response to 26yearsonmarco:

Hey Folks, I'm getting tired of waiting for the KLAUS explanation of how Obamee's net worth grew from $400K in 2002 to $11M today.

Can anybody help Klaus out???

He wrote some books and he earns royalties - just like most national office holders. Sorry, no conspiracy here for you the feast on.

1Paradiselost writes:

in response to August8:

See what Klaus and his Crat pal's think about this Obama Plan.
After 2014, the sale of your primary residence will be taxed 3.7% to pay for someone elses health care.You had to pass the bill to find out what is in it, well Klaus better make plans to move back to Germany or Keya you only have about 18 months.
How do ya like those apples?

I CAN"T FIND ANYTHING ON THE INTERNET BACKING UP YOUR STATEMENT...

"After 2014, the sale of your primary residence will be taxed 3.7% to pay for someone elses health care"

1Paradiselost writes:

WHERE"S THE TAX RETURNS!!

1Paradiselost writes:

Typical uneducated Florida cracker who believes anything their told!

This is who would vote for Romney. That's why Republicans are against education.

This state (Florida) is a prime example...keep them dumb and they will vote the way we tell them. Reminds me of the mob.

dcrain writes:

Klaus;

Your rediculous statement,"Why is America managed by just 18 Presidents from the Republican side since George Washington? Just for your personnell information. He was the first President of AMERICA"

There was no Replublican Party until Abraham Lincoln. Beginning with Lincoln, there have been a total of 19 Republican Presidents and only 9 Democrats.

ajm3s writes:

in response to 1Paradiselost:

Typical uneducated Florida cracker who believes anything their told!

This is who would vote for Romney. That's why Republicans are against education.

This state (Florida) is a prime example...keep them dumb and they will vote the way we tell them. Reminds me of the mob.

A very small percentage will pay this tax under the provision of high income earners (over 200K, single or $250K married) with net investment income.... It is sinewy but it applies in certain conditions to home sale.

If you care to read through the document explanation, have fun:

https://www.jct.gov/publications.html...

but I like the abridged review as offered by:

http://www.factcheck.org/2010/04/a-38...

Can we agree, that this could impact quite a few properties on Marco Island? And who would have thought this tax reform would be part of a healthcare act.

FYI, I do appreciate the recent discussion with WTF and the cited references. I had forgotten about Stockman's analysis.

26yearsonmarco writes:

in response to WhiskeyTangoFoxtrot:

On the bright side Corzine won't be prosecuted for anything and is now about to start a hedge fund. It's all becoming a sick joke. I don't see myself going to the polls in November. It no longer matters.

Helicopter Ben can't drive rates up. Not now, not ever. The rise in interest payments on the debt would destroy the federal budget, health care will do that by itself soon. The market can demand higher rates, and it will. Ben will buy treasuries hand over fist to keep yields down but, that can't go on forever. It will destroy the Dollar and cause commodities (gold) to skyrocket. I'm anxious to get this election over. The American people are going to be told bits and pieces of reality once we get into 2013. They're not going to like it.

Are you kidding?? I did not hear Corzine is getting away with his Ponzi scheme.

You are right about Ben's inability to do anything but continue to destroy the $$$.

Gold as of a few minutes ago is up to $1618.50 which is the only true indicator of what is happening.

Maybe I'll stay home as well on Election Day, and buy more gold as a bet Obamee will win.

As some once said: "When rape is inevitable, lay back and enjoy it."

26yearsonmarco writes:

in response to GorchFock:

(This comment was removed by the site staff.)

Klaus,

While you are in Spell Check Mode you might want to read this article and explain why your Idol Obamee is such cheap skate toward his own family after earning $11M selling books. I'm sure he could have tripled sales except for the fact that only about ten percent of his "Followers" can read.

http://www.foxnews.com/opinion/2012/0...

August8 writes:

Paradiselost---It's in there if you can't find it go on line and ask, it's there

Mayor_McCheese writes:

Now we learn that Ryan, while dismissing the bailout as a complete waste, actually asked for and secured $20 million for one of his constituents. He claims it was handled by his "constituent services" people. Fir a guy who is suopposed to be fiscally conservative and trustworth with our money, I find it odd that he "forgot" about the $20 million he got for his constituent while claiming he never requested or supported it.

More Etch-a-Sketch I guess.

1Paradiselost writes:

in response to August8:

Paradiselost---It's in there if you can't find it go on line and ask, it's there

What? 10 years of Romneys complete tax returns including his 1040x's

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