posted on 12/25/2012 3:23:40 PM PST
One question here may be whether or not retailers resorted to last-minute discounts to get buyers to budge.
Don't they always?
posted on 12/25/2012 3:26:22 PM PST
by HiTech RedNeck
(How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
posted on 12/25/2012 3:28:41 PM PST
(kak-is-toc-ra-cy: Government by the least qualified or most unprincipled citizens. See: GOP-e)
And the thing is, 2013 could be pretty good as things had been looking a tad brighter, namely in China, up to this point. Since collapsing to a four-year low earlier this month, the Shanghai Composite is up 10%:
Overall online retail sales are up 16% since November 1, with a big boost coming just last week.
IOW, our increased spending has boosted China's economy.
posted on 12/25/2012 3:37:21 PM PST
(Ho, ho, hey, hey, I'm BUYcotting Chick-Fil-A)
I am beginning to think this is nothing but a hyped up media event. We have not had a national budget in how many years? So the goons in DC will just keep spending. And that money to us old folks and welfare and medicare and etc., etc., will just keep on pimping the economy as slow as it is. As to having more taxes, that will just help the ramen soup company so it is a zero loss game there.
Stop and think, the wealth of the middle and lower class has dropped drastically in the last four years. The same happened in the 30's. However nobody starved, there were no riots, some became more dependent upon the government but that is what the current idiots voted for. And besides the great Zero thinks he is as potent as FDR so he can fix it.
In simple terms, NO PROBLEMO. Let the cliff happen.
posted on 12/25/2012 3:48:42 PM PST
(" I never did give anyone hell. I just told the truth and they thought it was hell." Harry Truman)
My question is, on Jan 1 the budget resets to a lower number right? And going forward, next year’s baseline will be based on that lower number? Just wondering ...
posted on 12/25/2012 5:09:03 PM PST
(Keep your laws OFF my Big Gulp !)
To: Kaslin; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; Gilbo_3; NFHale; Impy; AuntB; ...
RE :’Surely, if this Fiscal Cliff doesn’t get sorted out it will be one of the worst failures of Congress and the President of all time. Nevertheless, both Boehner and Obama agree there’s still time. For me, if the few goons in Congress and the White House procrastinated all year only to hold all of America hostage until the last minute. They don’t deserve to go off for a holiday”
The 2010 lame duck Senate minority Rs created this time-bomb exactly two years ago by forcing an extension of all the Bush tax cuts for two more years. Remember that Obama got the Pelosi lame duck House to extend them for those two years.
If instead the upper income taxes had went up in early 2011 and the the economy slowed (for any reason) then Obama would have had less chance of this second term. Republicans would have had an issue. ‘Raising taxes hurt the economy’
That two year extension was the best luck O had(I think he may have planned it) , now it is trap for Republicans because they have the House now.
So if Republicans give in to partial extension now then Dems will be sure to repeat over and over on TV that Republicans gave gave in and raised taxes (the dog whistle), then the R party breaks out into civil war and self destructs and Pelosi picks up the House in 2014.
If they don't give in (which is unlikely) then Obama pins the bad economy on them for the raising taxes (in voters eyes), again to take back the house in the 2014 midterms. In fact he will do this even if they do give in after a certain period of time.
Those 2 year tax cut extensions were a huge trap. It is like Dems plan strategically long ahead, Republicans simply react to the crisis of the day.
posted on 12/25/2012 6:33:03 PM PST
(Dems know how to win. Rs know how to whine.)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson