JimofPennsylvan
Platinum Member
- Jun 6, 2007
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There is so much cut-throat competition amongst economic commentators in America it makes a decent person sick to their stomach. I am referring here to all the commentators that have said the Federal Reserve Board hurt its credibility in not deciding to scale back on its bond buying program at its September and Chairman Bernanke lost his nerve lacks courage, etc.. That assessment is a bunch of bunk. Mr. Bernanke with his leadership there showed again why he is a great Fed chairman. How could he with the showdowns in Washington over the next two months begin the draw down which would raise interest rates albeit only about a half to three-quarters of a percentage point, these interest rate moves will have a negative effect on the housing market, equity markets and consumer spending granted only minor but with potential economic shock waves that realistically could come out of Washington any destabilizing of the economy would be very unwise. Carrying this unbiased assessment forward good judgment dictates the Fed won't touch the bond buying program at its October meeting because although the Washington budget issue will be over the debt ceiling issue most likely won't be so the draw down will likely be started at the November Federal Open Market Committee.
The American people need to not be deluded by the hype over these Washington fiscal showdowns over the next year the only big battle left until 2014 elections is the debt ceiling issue this month. This month's budget issue is a red herring issue, the Senate will kick the continuing resolution back to the House and the Democrats will help moderate Republicans pass the CR Democrats are not going to shut down the government on a two month government financing bill and then come mid-December neither party is going to shut down the government long if at all because the media will cow tow members of Congress to pass a budget like its a comic book story and in 2014 an election year even U.S. politicians aren't stupid enough to shut down the federal government because of the ramifications at the polls. One reason why the debt ceiling issue is a big issue is that Republican party leadership has no big success story to give their rank and file to run on in the 2014 elections; in fact, the Republican party really looks like a failure the nation has incurred a $600 billion tax increase and were adding a half a trillion dollars a year to the national debt. This big fight over the national debt can't really be a big fight though the Republican party leadership can't cause a default on America paying its treasury debt it would cause an economic world-wide calamity. What the Republican party can do is put the onus on the Democrats and the President make them responsible for the default and so bring about them in order to avoid this catastrophe give the Republicans something that will help the country. The Republican House debt ceiling bill from the media reports seems like a good effort except for the initiative to postpone Obamacare for one year that is too aggressive it asks too much from the Democrats its President Obama's signature issue of his Presidency and the exchanges are opening October 1st the Americans that sign up will be relying on that insurance also America has employers cancelling health insurance for their workers and retirees relying on these people being able to go to the exchanges. The Republican party needs to scale back its goals on what it can achieve on Obamacare any knowledgeable person knows that Obamacare is suppressing employment and wages because of how it increased health insurance costs , my recollection is that family health insurance cost increased from $12,000 in 2010 to $16,000 today due to Obamacare. Obamacare has an abundance of insurance provision mandates and competent analyst will tell you each of these mandates has a cost the Republican party in this debt ceiling bill should roll back or eliminate some of these mandates moderate Democrats will be under a lot of pressure to work with Democrats there because how do they successfully defend their opposition to their constituents!
The American people need to not be deluded by the hype over these Washington fiscal showdowns over the next year the only big battle left until 2014 elections is the debt ceiling issue this month. This month's budget issue is a red herring issue, the Senate will kick the continuing resolution back to the House and the Democrats will help moderate Republicans pass the CR Democrats are not going to shut down the government on a two month government financing bill and then come mid-December neither party is going to shut down the government long if at all because the media will cow tow members of Congress to pass a budget like its a comic book story and in 2014 an election year even U.S. politicians aren't stupid enough to shut down the federal government because of the ramifications at the polls. One reason why the debt ceiling issue is a big issue is that Republican party leadership has no big success story to give their rank and file to run on in the 2014 elections; in fact, the Republican party really looks like a failure the nation has incurred a $600 billion tax increase and were adding a half a trillion dollars a year to the national debt. This big fight over the national debt can't really be a big fight though the Republican party leadership can't cause a default on America paying its treasury debt it would cause an economic world-wide calamity. What the Republican party can do is put the onus on the Democrats and the President make them responsible for the default and so bring about them in order to avoid this catastrophe give the Republicans something that will help the country. The Republican House debt ceiling bill from the media reports seems like a good effort except for the initiative to postpone Obamacare for one year that is too aggressive it asks too much from the Democrats its President Obama's signature issue of his Presidency and the exchanges are opening October 1st the Americans that sign up will be relying on that insurance also America has employers cancelling health insurance for their workers and retirees relying on these people being able to go to the exchanges. The Republican party needs to scale back its goals on what it can achieve on Obamacare any knowledgeable person knows that Obamacare is suppressing employment and wages because of how it increased health insurance costs , my recollection is that family health insurance cost increased from $12,000 in 2010 to $16,000 today due to Obamacare. Obamacare has an abundance of insurance provision mandates and competent analyst will tell you each of these mandates has a cost the Republican party in this debt ceiling bill should roll back or eliminate some of these mandates moderate Democrats will be under a lot of pressure to work with Democrats there because how do they successfully defend their opposition to their constituents!
