Political discussion thread

A friend of my lent me his copy of 'Blowback'. Anybody read it?

JJLehto wrote: Indeed dtguitarfan, Obama hasn't done much at all, and has re-hired alot of the same people. Also remember the original bailouts and all happened under Wubya, as well as that stimulus. Maybe we aren't so different you and I!

Ok, I'm kind of giving away the point of the movie and why people might say it's "Pro Obama Propaganda", but what about Dodd/Frank?

dtguitarfan wrote: JJLehto wrote: Indeed dtguitarfan, Obama hasn't done much at all, and has re-hired alot of the same people. Also remember the original bailouts and all happened under Wubya, as well as that stimulus. Maybe we aren't so different you and I! Ok, I'm kind of giving away the point of the movie and why people might say it's "Pro Obama Propaganda", but what about Dodd/Frank?

JJLehto wrote: dtguitarfan wrote: JJLehto wrote: Indeed dtguitarfan, Obama hasn't done much at all, and has re-hired alot of the same people. Also remember the original bailouts and all happened under Wubya, as well as that stimulus. Maybe we aren't so different you and I! Ok, I'm kind of giving away the point of the movie and why people might say it's "Pro Obama Propaganda", but what about Dodd/Frank? That's fine, I already know Obama has been Wubya #2 so its cool What about it? I'll admit I don't know much (since it's an epic sprawling law) aside that it's supposed to be more regulatory of Wall Street. What is the point they make about Dodd Frank? I havn't Dusty, but may have to check it out. By the name...is it about how US foreign policy always ended up being a failure and blowing up in our face?

Alitare wrote: Well, the subtitle is "The Costs and Consequences of American Empire"

Ah

Oh I see. Yeah same here man, like I said it's more regulation on Wall Street but I have no clue what it says or what it's real impact will be. And I found a great site that unspun the real nitty gritty of Obamacare, but not any on Dodd Frank. Maybe no on knows what it really says

Here's a blurb from Wikipedia: To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.
Well, that sounds great. Doubt it can manage that but sounds nice.


I'm torn on it, we see what happens when Wall Street/Finance is allowed to run a muck, but also government did help cause the problem, and I do find it odd these hugely successful businesses (sometimes for hundreds of years) did "lose their mind" and started acting so recklessly. Perhaps the book "bailout nation" sheds some light.
If you can't guess...basically bailouts have historically just given companies/sectors a feeling of "awww I can do whatever I want and uncle Sam will always save me". So you had de-regulation AND the idea you'd be bailed out.


Edited by JJLehto - December 22 2012 at 18:28

Yes, do check it out. The guy writes it very down to Earth and seems pretty ideological free. Levels criticism where deserved, but also points out where other criticism is unfair, and doesn't bash all government. Very informative and non partisan!


Nah I'm good, and don't worry I'm no Republican, was a Dem now registered Independent

So...any guesses as to what's going to happen about the fiscal cliff?  How the economy will respond to us going over (since it doesn't look likely that we're going to miss it at this point)?

Slartibartfast wrote: If you are subject to your taxes going up,when you file in 2014 it won't mean a damn thing until then.  If you are dependent on EUC, you get shoved off the cliff and won't be able to even scrape by.

Erm...income tax?  It gets taken right out of your paycheck.  Sales tax?

Some think that going  off the fiscal cliff will actually be good, in the long run, for the economy.  Unfortunately, in my opinion, any long term benefit of the fiscal cliff will be negated because the government will just try to reverse the damage and kick the can down the road again instead of really making the structural changes the the fiscal cliff is supposed to demand.

Anyway...it's going to screw up the economy.  But we'll survive.  It's not like we've never had a recession before.  I'm still thankful to live in the most affluent nation in the world, where poor people live like rich ones even during recessions, compared to the millions of suffering people in other nations around the world.  When you think about it from that perspective, the fiscal cliff doesn't seem so frightening.


Edited by Ambient Hurricanes - December 28 2012 at 20:05

http://www.npr.org/blogs/money/2012/12/27/168147765/understanding-the-milk-cliff