Friday, July 29, 2011

Am I living a bad dream?


Waking up this morning,  I flipped on the business news.  DAMN.  It wasn't a dream.  I'm actually living a real nightmare.

Boehner failed.  A stream of Republicans,  mainly tea partiers,  came to camera blaming Obama for everything wrong in the world.  To the tea, not a single one was willing to raise ANY taxes,  although we know that over 32% of the 400 wealthiest Americans paid less than 15% federal taxes in 2008,  which is less than most middle class Americans pay.  Figures.  Tea Party America was spawned by Trailer Park America.  And now the wealthiest Americans are laughing all the way to the bank.  Trailer Park America works its tail off to the benefit of the Wealthy.  But now, the world markets are plunging,  taking our IRAs, Roths, 401Ks, 529s, Coverdales,  and savings right down the drain.  While I am heavily short,  I still have enough long positions on to know today would really hurt. 

I buried my head in a pillow and went back to sleep.

When I woke up,  the Smurfs were ringing the bell to open the New York Stock Exchange.  I kid you not.  Our country is going to hell and the Smurfs are on center stage at the New York Stock exchange.  I asked myself again,  is this a bad dream?  Nope.  The Dow and S&P plunged right after the Smurfs rang the bell.  My accounts were down high 5 figures.

I buried my head in a pillow and went back to sleep.

I'm wide awake now,  significantly poorer,  and asking myself again,  is this simply a bad dream?  Unfortunately,  no.  We live in a fucked up country,  fucked up by the Republican Party.   And now these same morons are working hard to blame anyone but themselves.   And they are out to destroy America.

General Sherman was a Republican too. Right? He burned down everything in his path in his march through Atlanta,  and on to the sea.  His ghosts now roam the halls of Washington DC.  The fires can't be far behind.

I am now going to bury my head in a pillow again,  and go back to sleep.  When I wake,  I just pray that what's happening is just one, big, terrible,  nightmare ... that goes away.

4 comments:

  1. You have got to be kidding me.

    While I do sympathize with your personal financial destruction as I'm also in the same boat, I can't believe that you don't understand the true cause.

    Increasing the debt limit is akin to raising the limit on the credit card of an irresponsible child. It will not raise the child's credit score or make them any more solvent, it simply allows them to dig a bigger hole until the debt is finally called.

    I agree, let's do everything in our power to eliminate the egregious tax loopholes and clean up the income side of this equation, but do not pretend that it will bring in the over 50% more tax income that is required to start paying off this toxic debt.

    40% of every dollar spent by the government is borrowed, and 60% is paid for by collected taxes. To be able to pay for our spending with income only, not borrowing, we would need to cover that 40%. 40/60=~67%. You really think that the government should be increasing it's tax collection by 67%? I cannot believe that, no-matter whose pocket it comes from...

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  2. I agree with Anonymous, for someone who apparently thinks they know something about investment, you must have missed the day on "Deadweight Loss" in Econ 101...

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  3. I do understand the cause. The responsible path is to get there by both raising revenue and deep cuts to expenses. Do you not understand the need to raise revenues?

    We live in a country where the 25 highest paid hedge fund managers make over $1 Billion in annual pay ... and it's OK for them to pay taxes at a rate lower than middle class Americans that make .000000055% their income?

    Why can you not see the importance of raising taxes on the wealthiest of the wealthy? Why would you be willing to wreck our country over this single issue? IT IS THE ONLY issue that keeps a compromise from happening.

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  4. Malooooone - Guilty as charged. I slept through all my Econ courses. And I still Aced them.

    I did take a number of Accounting courses too. And applying knowledge from those courses, I know you can't balance a budget when you tax the richest Americans less than the Average Americans. And you can't balance a budget when 51% of Americans pay no federal income taxes.

    Let's take the TEA Party route and cut the hell out of expenses. But let's ALSO tax the wealthiest more, and make everyone contribute. Everyone needs to pay something.

    What did you learn from your math courses Malooooone?

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