The Political Fray - Political Forum
Go Back   Political Fray > The Political Fray > Economics

Economics For discussion about economics, financial markets, investing, stock markets, finance, and economic theory


Reply
 
LinkBack Thread Tools Display Modes
Old December 31st, 2012, 01:38 PM   #1
Secretary of State
 
chris7375's Avatar
 
Joined: Jun 2012
From: Stuart
Posts: 740

Ron Paul says we past the point of no return on the Fiscal Cliff.

This is one time I truly hope Ron Paul is wrong.

http://www.infowars.com/ron-paul-on-...-of-no-return/
chris7375 is offline  
Old December 31st, 2012, 02:10 PM   #2
Secretary of State
 
tecoyah's Avatar
 
Joined: Oct 2012
From: Louisville, Ky
Posts: 3,457

Sadly....he has valid points.
tecoyah is online now  
Old December 31st, 2012, 03:36 PM   #3
Secretary of State
 
chris7375's Avatar
 
Joined: Jun 2012
From: Stuart
Posts: 740

Quote:
Originally Posted by tecoyah View Post
Sadly....he has valid points.
Yeah I agree but I hope he is wrong. Though what my gut tells me is he is not.
chris7375 is offline  
Old December 31st, 2012, 03:56 PM   #4
Intern
 
Joined: Dec 2012
Posts: 10

Ron Paul is a very wise man. I would take what he says seriously however it's nothing new to be honest. so what about this fiscal cliff? It's all over 800 billion dollars, has everyone forgot about our 15 trillion dollar debt?
somenights is offline  
Old December 31st, 2012, 03:59 PM   #5
Secretary of State
 
tecoyah's Avatar
 
Joined: Oct 2012
From: Louisville, Ky
Posts: 3,457

The $$$ seems less an issue than political BS and Lobbies.
tecoyah is online now  
Old December 31st, 2012, 04:01 PM   #6
Secretary of State
 
chris7375's Avatar
 
Joined: Jun 2012
From: Stuart
Posts: 740

Quote:
Originally Posted by tecoyah View Post
The $$$ seems less an issue than political BS and Lobbies.
Unfortunately that is how politics has changed.
chris7375 is offline  
Old December 31st, 2012, 04:02 PM   #7
Secretary of State
 
tecoyah's Avatar
 
Joined: Oct 2012
From: Louisville, Ky
Posts: 3,457

Quote:
Originally Posted by chris7375 View Post
Unfortunately that is how politics has changed.
Agreed.................
tecoyah is online now  
Old December 31st, 2012, 04:21 PM   #8
Vice President
 
David's Avatar
 
Joined: Jul 2009
From: Opa Locka
Posts: 5,487

Quote:
Originally Posted by somenights View Post
Ron Paul is a very wise man. I would take what he says seriously however it's nothing new to be honest. so what about this fiscal cliff? It's all over 800 billion dollars, has everyone forgot about our 15 trillion dollar debt?
Not sure wise is the word I'd use. I'm not saying he's stupid or a fool, he's probably 1 of the sharper knives in Congress but I wouldn't call him wise.
David is offline  
Old December 31st, 2012, 04:30 PM   #9
Secretary of State
 
chris7375's Avatar
 
Joined: Jun 2012
From: Stuart
Posts: 740

Quote:
Originally Posted by David View Post
Not sure wise is the word I'd use. I'm not saying he's stupid or a fool, he's probably 1 of the sharper knives in Congress but I wouldn't call him wise.
I would say he was the best Congressman in the House. I don't agree with everything he say but he speaks the truth which is something a lot of the other politicians don't seem to grasp.
chris7375 is offline  
Old December 31st, 2012, 04:39 PM   #10
Secretary of State
 
tecoyah's Avatar
 
Joined: Oct 2012
From: Louisville, Ky
Posts: 3,457

Quote:
Originally Posted by David View Post
Not sure wise is the word I'd use. I'm not saying he's stupid or a fool, he's probably 1 of the sharper knives in Congress but I wouldn't call him wise.
...Unique?.......
tecoyah is online now  
Old December 31st, 2012, 04:46 PM   #11
Vice President
 
David's Avatar
 
Joined: Jul 2009
From: Opa Locka
Posts: 5,487

Quote:
Originally Posted by tecoyah View Post
...Unique?.......
Na, Sen. Sanders is cut from the same mold (the only difference being he's a socialist), he's certainly strange though.

In all seriousness, I think principled is a better word.
David is offline  
Old December 31st, 2012, 05:06 PM   #12
myp
Founding Father
 
myp's Avatar
 
Joined: Jan 2009
From: us
Posts: 5,841

Sad day when the principled Congressman is considered unique. But that is politics for you...
myp is offline  
Old January 6th, 2013, 05:51 PM   #13
Intern
 
Joined: Jan 2013
Posts: 11

Ron Paul is CRAZY.... but he has valid points. In my opinion that just means that the world has gone crazy

Ron Paul was correct when he predicted the crash, and his firm believe in austrian economics makes me believe every word he says. Always.
youngconservatives is offline  
Old January 6th, 2013, 07:08 PM   #14
Vice President
 
David's Avatar
 
Joined: Jul 2009
From: Opa Locka
Posts: 5,487

Quote:
Originally Posted by youngconservatives View Post
Ron Paul is CRAZY.... but he has valid points. In my opinion that just means that the world has gone crazy

Ron Paul was correct when he predicted the crash, and his firm believe in austrian economics makes me believe every word he says. Always.
Austrian economics is crap... It's utterly illogical if you don't assume a Utopian society, no better then Marxism.
David is offline  
Old January 6th, 2013, 07:13 PM   #15
myp
Founding Father
 
myp's Avatar
 
Joined: Jan 2009
From: us
Posts: 5,841

Quote:
Originally Posted by David View Post
Austrian economics is crap... It's utterly illogical if you don't assume a Utopian society, no better then Marxism.
I wouldn't call it crap, but certainly not as scientific as it should be. More of a political philosophy really, but it does have its share of interesting intellectual thought. Also important to note that not all Austrian economists rejected more rigorous methods.

Crazy how my response to this is compared to maybe 3 years ago. Guess I have evolved
myp is offline  
Old January 6th, 2013, 07:18 PM   #16
Vice President
 
David's Avatar
 
Joined: Jul 2009
From: Opa Locka
Posts: 5,487

Quote:
Originally Posted by myp View Post
I wouldn't call it crap, but certainly not as scientific as it should be. More of a political philosophy really, but it does have its share of interesting intellectual thought. Also important to note that not all Austrian economists rejected more rigorous methods.

Crazy how my response to this is compared to maybe 3 years ago. Guess I have evolved
Evolved and realized that I'm right (even if you're more forgiving).
David is offline  
Old January 6th, 2013, 07:19 PM   #17
myp
Founding Father
 
myp's Avatar
 
Joined: Jan 2009
From: us
Posts: 5,841

Quote:
Originally Posted by David View Post
Evolved and realized that I'm right (even if you're more forgiving).
Right on this, wrong on a lot of other things
myp is offline  
Old January 6th, 2013, 07:27 PM   #18
Vice President
 
David's Avatar
 
Joined: Jul 2009
From: Opa Locka
Posts: 5,487

Quote:
Originally Posted by myp View Post
Right on this, wrong on a lot of other things
If we always agreed that we were both right on everything, there'd be no debate and this place wouldn't exist...
David is offline  
Old January 6th, 2013, 07:28 PM   #19
myp
Founding Father
 
myp's Avatar
 
Joined: Jan 2009
From: us
Posts: 5,841

Quote:
Originally Posted by David View Post
If we always agreed that we were both right on everything, there'd be no debate and this place wouldn't exist...
Very true.
myp is offline  
Old January 7th, 2013, 12:25 AM   #20
Intern
 
Joined: Jan 2013
Posts: 29

Quote:
Originally Posted by tecoyah View Post
Sadly....he has valid points.
Paul is adept at oversimplification....but if you follow what he's been for..it's warmed over Feudalism. Virtually EVERY reform of the past 100 yr....gone. The rich and powerful pretty much do as they please and the rest of us have to just shut up and swallow it.

The so called "Cliff" is a case of the REALITIES of a Demand-Side economy conflicting with the myths of Supply side...which have a big grip on our politics. Too much austerity dries up the economy. You can't get GROWTH when nobody spends and the private sector won't act unless they see DEMAND. However...any "austerity/spending cut" scheme...IS a case of a lot of layoffs.

Having both public sector layoffs (aka Spending cuts) along with contracts cancelled or delayed...AND dropping 1 million off Unemployment AND having taxes rise a few % (income tax) + some more (FICA)...takes a LOT out of the loop and can especially hit some areas hard. That leads to a chain reaction.

My Toyota was made in a plant in the middle of Kentucky, is by far the areas biggest employer. If demand dives and they lay off half the workers...what happens to other businesses in the area?

Meanwhile..after all the fuss over the debt...now it's gone to "Oh,nevermind" and so taxes rise a little on folks making just under a half million a year...but there's still a ton of loopholes, so you can bet Mitt won't be paying more. Judging from a lot of the nonsense we recently heard from certain politicians...they figure hardly anyone ever had a class in accounting or Econ. The folks actually making $450,000 a year in salary...will easily find ways to make a chunk of that non taxable. IRA's, Municipal bonds,various investments Likely a person could be making as much as $800,000 per and juggle it to get under the line, so...you get a REAL tax hike on less than 0.5% of Americans and they are MOST able to duck and dodge that. After all that noise and drama...the real effect on the debt is...at best..small.
redwood is offline  
Reply

  Political Fray > The Political Fray > Economics

Tags
cliff , fiscal , past , paul , point , return , ron



Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
What the fiscal cliff means for the FDA myp Government and Politics 0 January 1st, 2013 11:30 AM
Fiscal cliff deal myp Current Events 3 January 1st, 2013 11:16 AM
The four hour poll (fiscal cliff) tecoyah Economics 4 December 31st, 2012 04:42 PM
Predictions for the fiscal cliff tecoyah Government and Politics 3 November 13th, 2012 01:14 PM
What do you make of the coming fiscal cliff? myp Economics 19 November 1st, 2012 07:45 AM


Facebook Twitter RSS Feed



Copyright © 2009-2013 Political Fray. All rights reserved.