Stock futures waver after mixed jobs data

I think this should be said again----Best years for Federal income tax receipts for business and individuals combined.  In order

2007

2008

2006

2011 all the above Bush Tax cuts

2000

 

"The U.S. fiscal gap, calculated (by us) using the Congressional Budget Office’s realistic long-term budget forecast -- the Alternative Fiscal Scenario -- is now $222 trillion. Last year, it was $211 trillion. The $11 trillion difference -- this year’s true federal deficit -- is 10 times larger than the official deficit and roughly as large as the entire stock of official debt in public hands."

 

"When fully retired, 78 million baby boomers will collect, on average, more than 85 percent of per-capita gross domestic product ($40,000 in today’s dollars) in Social Security, Medicare and Medicaid benefits. Each passing year brings these outlays one year closer, which raises their present value."

 

Why would we want 4 more years of this?

LOM......

I know you will likely disagree, but here is my Plan:

1. Federal govt gives tax credits to "Green Retrofitting of Homes, esp older ones"
2. Contractors, inspectors, architects, engineers et al, Return to work, make money, pay taxes.
3. Country is reoriented to buying homes and / or rehabilitation of them.
4. Tax revenues will soar, replacing the initial deficit left by the tax credits.
5. Within a few years, we could be back on the path to debt paydown, depends on CONgress.

As I keep trying to point out to you guys, please give more respect to the AMERICAN CONSUMER.  He's tapped out.  Up against his limits, no room for "coupon spending" on non essential items.  Home improvements are great!  Just people are not willing to invest in something they either stopped paying on monrhs ago, owe more on than the house is worth, or feel so worried about their current job that they need to be nimble and ready to move at a moments notice.  The lack of stability and blurred vision of the future that this administration has continued to support since the financial meltdown continues to leave record numbers unwilling or incapable of these types of housing investments.

So,although I love your effort..... it's not possible to get past #1 make the other points fall into place.  What we need is to free up the consumer.  We have plenty of evidence that the coddled financial industry that we saved from extinction just a few years ago is more than culpable and should be the one's to pay the bill.  Since we are almost guaranteed more government money games in our immediate future, I'd front the money and assign each of the big financial institutions their portion of the payback over a 10 or 20 year period.  This will also help as we go forward and find out the cost of certain things have changed, or initial estimates were off, or whatever.  A small portion of their quarterly "winnings" will go "back to the house" for sponsoring the games in the first place.  Makes perfect sense to me!!!

Tog:  What do you think on Best Buy?  I think they're going private because they're going to get rolled into a holding company and repay some of those private equity companies, or come out only being owned by one once the assets are sawed apart.  At this point I feel like their assets and lease agreements are more valuable than the business itself.

Stores in some prime spots that are really doing nothing but being a showroom for Amazon.

I wonder why the article was never updated.  I was looking for the inventory change.. not important enough to actually go the commerce site.. but enough for me to keep tapping F5 every now and again.

Gooch, topic for tomorrow....?

Good morning and what a lovely day to be Alive and Living in America (w/ royalties to Salt Guy)...

Earlier today, Gooch and his various aliases said:

"Take a look at what's going on today.  And this is global, too.  Manufacturers need demand, but it's gone.  Not gone entirely, but certainly declining with no tangible reasons for "growth" in sight.  If you guys are really interested in restarting the economy, it's the consumers that need attention.  This is why I say at some point you have to go back and figure out the root cause so you can rechart a safe path." He also commented on the "root cause" theory, which makes sense, in re; Housing and its concomitant issues.  Right on!

To which Brutus responded:

"It's almost become hilarious how some attribute economic growth or contraction to a single action, as if a single, clearly identifiable cause is responsible for a massive economic turnaround, good or bad.  "Oh, we ended that depression by dropping interest rates."  "The Great Depression continued because of austerity." "Fiscal stimulus ended that recession." Etc...."

He sought to refute the idea that single causes are actually significant when deflating or inflating economies.

However, VF said,"  You mean like "The housing bubble caused the current recession?" or "The dot com bubble caused the recession in 2001."  How about "9-11 extended the recession."

Complicates things can easily have simple root causes if they're big and far reaching.

For instance, monetary policy, when not in a liquidity trap, impacts every transaction in some way.  Fiscal policy can at one time add demand for millions of items and just as easily take it away.  These aren't small changes, they change the landscape of the economy."

Gentlemen. All three of you have very valid and interlocking points.

Yes, One very far reaching source can be the origin of a plethora of pecuniary problems.
Yes, One very strong policy (like mortgage interest and property tax deductions from Fed forms) can lead to consumer reorientation, such as buying instead of renting.
Yes,  Gooch, we need to repair the void left by the crunch down of the housing industry and all those related jobs lost.

I know you will likely disagree, but here is my Plan:

1. Federal govt gives tax credits
2. Contractors, inspectors, architects, engineers et al, Return to work, make money, pay taxes.
3. Country is reoriented to buying homes and / or rehabilitation of them.
4. Tax revenues will soar, replacing the initial deficit left by the tax credits.
5. Within a few years, we could be back on the path to debt paydown, depends on CONgress.

Basically, we have been left with this idea that 'bubbles' are Trouble.  They are not! If properly instituted and managed, especially with an eye towards toning down inflationary aspects with gradual money-tightening measures,  any bubble can be mitigated, which is what the FED failed to do this last time.  Some say, this was due to W having a gun at Greenspan's back, I dont know.

Nevertheless, We need a new Bubble.  This may be the only way to revive the lackluster pace of the "new Normal". 

Thoughts?

PS, and dont just say "it wont work" like Brutus.

Could it be? Did all the Republican posters get banned? LOL That would be asking for too much on my part. Maybe all the morons found a new CONservative site to congregate, talk non-stop BS, shake their heads up and down in agreement and live happily ever after?

 

THE FOX & FRIENDS TOTAL BS SHOW,.... HOSTED BY RUSH LIMBAUGH. Free drugs provided for everyone participating and attending! LMAO