Posted on 11/26/2012 11:23:22 AM PST by whitedog57
The Republicans keep putting new tax revenue on the table (capping deductions), Warren Buffet suggests increasing tax rates on households earning $500k and above, but President Obama and Democrats replied “Nyet.” It is always a risky proposition to raise taxes when the economy is so fragile.
Speaking of a fragile economy, the Chicago Fed National Activity Index printed at -0.56 for October and a previous reading of 0.00 in September. A print of -0.56 indicates economic contraction.
Meanwhile, down in Texas, the Dallas Fed’s Manufacturing Outlook Level of General Business Activity was expected to print at +2.5, but printed at -2.8 for November. This came after a previous print of +1.8 in October.
Capacity utilization fell to -1.3 from a previous reading of +11.4.
The Case-Shiller home price indices are due out tomorrow. Here is a comparison of Case-Shiller with the FNC 30 Metro RPI and the FHFA Purchase-only Index.
(Excerpt) Read more at confoundedinterest.wordpress.com ...
I hate to say this, but maybe a dose of pain will wake up this country. Maybe not, I do not know.
I disagree with the root cause analysis.
0bama’s re-election has drowned any hope of improvement.
Everyone is hunkering down for the economic disaster of 0bama II.
Forget the “Fiscal Cliff”. It’s the taxes, regulation, 0bamaCare, attacks on business, and general communization of the country that are killing the economy.
Warren Buffet needs to pay the 6 million he owes or STFU.
Absolutely. No one has the stomach to keep buying more cheap made-in-China crap, or yet another useless kitchen gadget.
People are, however, buying guns and ammo and other basic supplies.
” It is always a risky proposition to raise taxes when the economy is so fragile.”
Our situation is unique in American history. Approaching the problems with traditional thinking is only going to make it worse.
I hate to say this, but maybe a dose of pain will wake up this country. Maybe not, I do not know.
Only thing that will work is cuttin’ off the freebies.
In the immortal words of Leonard (Bones) McCoy, “He’s dead Jim” and so is this country, there is no waking up.
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