Romney Donates More to Charity than Obama and Biden Combined

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KC_Hokie

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#101 KC_Hokie
Member since 2006 • 16099 Posts
[QUOTE="-Sun_Tzu-"][QUOTE="KC_Hokie"][QUOTE="-Sun_Tzu-"] Yes, facts don't lie, so you should probably stop spewing bullsh!t.

The facts show he didn't even work with his own party on budgets and spending.

That's just a complete falsehood. These budgets that congress votes down are not Obama's actual budgets, they're just republican amendments that they say are Obama's budget.

Obama never worked with his own party on budgets and spending. Hell he didn't even submit budgets and when he did ZERO democrats voted for it.
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-Sun_Tzu-

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#102 -Sun_Tzu-
Member since 2007 • 17384 Posts
[QUOTE="-Sun_Tzu-"][QUOTE="KC_Hokie"]The facts show he didn't even work with his own party on budgets and spending. KC_Hokie
That's just a complete falsehood. These budgets that congress votes down are not Obama's actual budgets, they're just republican amendments that they say are Obama's budget.

Obama never worked with his own party on budgets and spending. Hell he didn't even submit budgets and when he did ZERO democrats voted for it.

I'm sorry but repeating lies over and over again does not make them any less false.
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KC_Hokie

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#103 KC_Hokie
Member since 2006 • 16099 Posts

[QUOTE="KC_Hokie"][QUOTE="coolbeans90"]

I'll prob starting voting Dem when they've gotten to the point where they've become more Republican than the Republicans were themselves. It's getting close.

coolbeans90

You can always vote for Gary Johnson and libertarians.

There are things I like about them, but they're a wee too far in each direction. Also, dat Federal Reserve thing. Moreover, I would feel a little disoriented voting w/ the climate change deniers, 9/11 conspiracy theorists and the like.

The Federal Reserve is a disaster and at least needs huge revisions. And Obama didn't mention climate change in a single debate nor at the convention. It's because it's a non-issue. I don't know of any 9/11 conspiracy people.
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Abbeten

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#104 Abbeten
Member since 2012 • 3140 Posts

[QUOTE="Abbeten"][QUOTE="KC_Hokie"]We are borrowing at least 34 cents out of every dollar. The rest comes from taxes or printing.

Biden and Obama want to spend that taxpayer money to 'share the burden' or whatever and yet Biden doesn't donate his own.

KC_Hokie

You don't seem to be making a cogent point here. You want Biden to make charitable donations to the US Treasury?

It's simple....Biden wants to force people to pay more taxes to 'share the burden' and for income redistribution via taxation because 'it's the right thing to do'.

Then he donates a grand total of 1.5% of his own money. That's hypocrisy at it's finest.

Another person assuming a thematic connection between taxes and charitable donations. That's not what hypocrisy is. The bill that would allow the Bush tax cuts to expire would apply equally to him. He would be a hypocrite if he wanted an exemption for himself, but he doesn't. And he's not calling for closing the deficit or the wealth gap through charitable donations or anything.
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KC_Hokie

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#105 KC_Hokie
Member since 2006 • 16099 Posts
[QUOTE="-Sun_Tzu-"][QUOTE="KC_Hokie"][QUOTE="-Sun_Tzu-"] That's just a complete falsehood. These budgets that congress votes down are not Obama's actual budgets, they're just republican amendments that they say are Obama's budget.

Obama never worked with his own party on budgets and spending. Hell he didn't even submit budgets and when he did ZERO democrats voted for it.

I'm sorry but repeating lies over and over again does not make them any less false.

When did Obama submit a budget to the Senate where his own party supported it? I would love for you to inform me.
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chessmaster1989

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#106 chessmaster1989
Member since 2008 • 30203 Posts
[QUOTE="coolbeans90"]

[QUOTE="KC_Hokie"]You can always vote for Gary Johnson and libertarians.KC_Hokie

There are things I like about them, but they're a wee too far in each direction. Also, dat Federal Reserve thing. Moreover, I would feel a little disoriented voting w/ the climate change deniers, 9/11 conspiracy theorists and the like.

The Federal Reserve is a disaster and at least needs huge revisions. And Obama didn't mention climate change in a single debate nor at the convention. It's because it's a non-issue. I don't know of any 9/11 conspiracy people.

No, Obama didn't mention climate change because it's not an issue that's going to win him votes.
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coolbeans90

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#107 coolbeans90
Member since 2009 • 21305 Posts

The Federal Reserve is a disaster and at least needs huge revisions. KC_Hokie
LOL

See, now you get why I can't vote for Johnson.

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KC_Hokie

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#108 KC_Hokie
Member since 2006 • 16099 Posts

[QUOTE="KC_Hokie"]

[QUOTE="Abbeten"] You don't seem to be making a cogent point here. You want Biden to make charitable donations to the US Treasury?Abbeten

It's simple....Biden wants to force people to pay more taxes to 'share the burden' and for income redistribution via taxation because 'it's the right thing to do'.

Then he donates a grand total of 1.5% of his own money. That's hypocrisy at it's finest.

Another person assuming a thematic connection between taxes and charitable donations. That's not what hypocrisy is. The bill that would allow the Bush tax cuts to expire would apply equally to him. He would be a hypocrite if he wanted an exemption for himself, but he doesn't. And he's not calling for closing the deficit or the wealth gap through charitable donations or anything.

But Obama/Biden's rationale for increasing taxes is that it's the right thing to do and the wealth needs to be spread around. It's social justice, etc., etc.

Then Biden only voluntarily donates 1.5% of his income. That's majority hypocrisy.

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chessmaster1989

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#109 chessmaster1989
Member since 2008 • 30203 Posts

[QUOTE="KC_Hokie"]The Federal Reserve is a disaster and at least needs huge revisions. coolbeans90

LOL

See, now you get why I can't vote for Johnson.

Let me guess Hokie you think that Congress should oversee the Fed?
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Abbeten

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#110 Abbeten
Member since 2012 • 3140 Posts
I'd be interested in hearing more about Hokie's problems with the Federal Reserve.
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dsrules13

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#111 dsrules13
Member since 2010 • 1624 Posts

[QUOTE="KC_Hokie"]

[QUOTE="Abbeten"] You don't seem to be making a cogent point here. You want Biden to make charitable donations to the US Treasury?Abbeten

It's simple....Biden wants to force people to pay more taxes to 'share the burden' and for income redistribution via taxation because 'it's the right thing to do'.

Then he donates a grand total of 1.5% of his own money. That's hypocrisy at it's finest.

Another person assuming a thematic connection between taxes and charitable donations. That's not what hypocrisy is. The bill that would allow the Bush tax cuts to expire would apply equally to him. He would be a hypocrite if he wanted an exemption for himself, but he doesn't. And he's not calling for closing the deficit or the wealth gap through charitable donations or anything.

But its the general principle of giving wealth. There is no honest way to defend the pitiful amount of money he donated. If he believes it's one's duty to give money then his charitable donations should reflect that moral. Not tying charity and taxes directly, its an overarching idea.

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Serraph105

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#112 Serraph105
Member since 2007 • 36038 Posts

he has more to give last I checked.

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KC_Hokie

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#113 KC_Hokie
Member since 2006 • 16099 Posts

[QUOTE="KC_Hokie"]The Federal Reserve is a disaster and at least needs huge revisions. coolbeans90

LOL

See, now you get why I can't vote for Johnson.

They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

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Abbeten

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#114 Abbeten
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[QUOTE="Abbeten"][QUOTE="KC_Hokie"]It's simple....Biden wants to force people to pay more taxes to 'share the burden' and for income redistribution via taxation because 'it's the right thing to do'.

Then he donates a grand total of 1.5% of his own money. That's hypocrisy at it's finest.

KC_Hokie

Another person assuming a thematic connection between taxes and charitable donations. That's not what hypocrisy is. The bill that would allow the Bush tax cuts to expire would apply equally to him. He would be a hypocrite if he wanted an exemption for himself, but he doesn't. And he's not calling for closing the deficit or the wealth gap through charitable donations or anything.

But Obama/Biden's rationale for increasing taxes is that it's the right thing to do and the wealth needs to be spread around. It's social justice, etc., etc.

Then Biden only voluntarily donates 1.5% of his income. That's majority hypocrisy.

You're still missing the point. Their rationale for increasing taxes is that we need to close the deficit with a balance of revenue increases and spending cuts. Biden's charitable donations have nothing to do with that.
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dsrules13

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#115 dsrules13
Member since 2010 • 1624 Posts

I have to be honest, I expected the discussion to be more about Romney than Biden.

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-Sun_Tzu-

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#116 -Sun_Tzu-
Member since 2007 • 17384 Posts
[QUOTE="-Sun_Tzu-"][QUOTE="KC_Hokie"]Obama never worked with his own party on budgets and spending. Hell he didn't even submit budgets and when he did ZERO democrats voted for it.KC_Hokie
I'm sorry but repeating lies over and over again does not make them any less false.

When did Obama submit a budget to the Senate where his own party supported it? I would love for you to inform me.

Just this year.
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#117 Abbeten
Member since 2012 • 3140 Posts

[QUOTE="Abbeten"][QUOTE="KC_Hokie"]It's simple....Biden wants to force people to pay more taxes to 'share the burden' and for income redistribution via taxation because 'it's the right thing to do'.

Then he donates a grand total of 1.5% of his own money. That's hypocrisy at it's finest.

dsrules13

Another person assuming a thematic connection between taxes and charitable donations. That's not what hypocrisy is. The bill that would allow the Bush tax cuts to expire would apply equally to him. He would be a hypocrite if he wanted an exemption for himself, but he doesn't. And he's not calling for closing the deficit or the wealth gap through charitable donations or anything.

But its the general principle of giving wealth. There is no honest way to defend the pitiful amount of money he donated. If he believes it's one's duty to give money then his charitable donations should reflect that moral. Not tying charity and taxes directly, its an overarching idea.

There is a fundamental difference between taxes and charitable donations. I'm not sure why that's so hard to understand. They are entirely separate issues.
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coolbeans90

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#118 coolbeans90
Member since 2009 • 21305 Posts

[QUOTE="coolbeans90"]

[QUOTE="KC_Hokie"]The Federal Reserve is a disaster and at least needs huge revisions. chessmaster1989

LOL

See, now you get why I can't vote for Johnson.

Let me guess Hokie you think that Congress should oversee the Fed?

Oh God, keep those bastards as far away from it as possible. Some things simply shouldn't be the subject of manchildren's games.

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KC_Hokie

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#119 KC_Hokie
Member since 2006 • 16099 Posts
[QUOTE="KC_Hokie"][QUOTE="coolbeans90"]

There are things I like about them, but they're a wee too far in each direction. Also, dat Federal Reserve thing. Moreover, I would feel a little disoriented voting w/ the climate change deniers, 9/11 conspiracy theorists and the like.

chessmaster1989
The Federal Reserve is a disaster and at least needs huge revisions. And Obama didn't mention climate change in a single debate nor at the convention. It's because it's a non-issue. I don't know of any 9/11 conspiracy people.

No, Obama didn't mention climate change because it's not an issue that's going to win him votes.

If it was so important he would have at least mentioned it more than once or twice on the campaign trail. He mentioned it every five minutes in 2008.
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#120 Abbeten
Member since 2012 • 3140 Posts

[QUOTE="coolbeans90"]

[QUOTE="KC_Hokie"]The Federal Reserve is a disaster and at least needs huge revisions. KC_Hokie

LOL

See, now you get why I can't vote for Johnson.

They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

Why is that scary?
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-Sun_Tzu-

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#121 -Sun_Tzu-
Member since 2007 • 17384 Posts
[QUOTE="chessmaster1989"][QUOTE="KC_Hokie"]The Federal Reserve is a disaster and at least needs huge revisions. And Obama didn't mention climate change in a single debate nor at the convention. It's because it's a non-issue. I don't know of any 9/11 conspiracy people.KC_Hokie
No, Obama didn't mention climate change because it's not an issue that's going to win him votes.

If it was so important he would have at least mentioned it more than once or twice on the campaign trail. He mentioned it every five minutes in 2008.

John McCain talked about climate change in 2008 as well.
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KC_Hokie

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#122 KC_Hokie
Member since 2006 • 16099 Posts
[QUOTE="-Sun_Tzu-"][QUOTE="KC_Hokie"][QUOTE="-Sun_Tzu-"] I'm sorry but repeating lies over and over again does not make them any less false.

When did Obama submit a budget to the Senate where his own party supported it? I would love for you to inform me.

Just this year.

Ahhh...his party didn't even vote for it. Are you on the pot?
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KC_Hokie

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#123 KC_Hokie
Member since 2006 • 16099 Posts
[QUOTE="-Sun_Tzu-"][QUOTE="KC_Hokie"][QUOTE="chessmaster1989"] No, Obama didn't mention climate change because it's not an issue that's going to win him votes.

If it was so important he would have at least mentioned it more than once or twice on the campaign trail. He mentioned it every five minutes in 2008.

John McCain talked about climate change in 2008 as well.

Sure...it's a non-issue today.
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-Sun_Tzu-

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#124 -Sun_Tzu-
Member since 2007 • 17384 Posts
[QUOTE="-Sun_Tzu-"][QUOTE="KC_Hokie"]When did Obama submit a budget to the Senate where his own party supported it? I would love for you to inform me. KC_Hokie
Just this year.

Ahhh...his party didn't even vote for it. Are you on the pot?

Are you? You should probably reread the article.
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coolbeans90

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#125 coolbeans90
Member since 2009 • 21305 Posts

[QUOTE="coolbeans90"]

[QUOTE="KC_Hokie"]The Federal Reserve is a disaster and at least needs huge revisions. KC_Hokie

LOL

See, now you get why I can't vote for Johnson.

They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

Inflation is actually not a problem in the U.S. I hear it's going to be another cold winter on Bull Sh!t Mountain, though.

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dsrules13

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#126 dsrules13
Member since 2010 • 1624 Posts

[QUOTE="dsrules13"]

[QUOTE="Abbeten"] Another person assuming a thematic connection between taxes and charitable donations. That's not what hypocrisy is. The bill that would allow the Bush tax cuts to expire would apply equally to him. He would be a hypocrite if he wanted an exemption for himself, but he doesn't. And he's not calling for closing the deficit or the wealth gap through charitable donations or anything. Abbeten

But its the general principle of giving wealth. There is no honest way to defend the pitiful amount of money he donated. If he believes it's one's duty to give money then his charitable donations should reflect that moral. Not tying charity and taxes directly, its an overarching idea.

There is a fundamental difference between taxes and charitable donations. I'm not sure why that's so hard to understand. They are entirely separate issues.

You blatantly disregarded what I had to say in that message. I said its not a direct correlation, and did not say they are fundamentally the same. I said its an overarching theme of sharing wealth. I'm not sure why that's hard to understand.

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KC_Hokie

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#127 KC_Hokie
Member since 2006 • 16099 Posts
[QUOTE="KC_Hokie"]

[QUOTE="coolbeans90"]LOL

See, now you get why I can't vote for Johnson.

Abbeten

They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

Why is that scary?

You don't think a dozen people who claim they are 'experts' on the economy having the authority to print literally trillions out of thin air. Then they don't have to tell the American people. No one overseas their actions and yet their actions can easily outweight everything else going on in the country.
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dsrules13

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#128 dsrules13
Member since 2010 • 1624 Posts

he has more to give last I checked.

Serraph105

And Biden has more than me but doesn't give more.

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-Sun_Tzu-

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#129 -Sun_Tzu-
Member since 2007 • 17384 Posts
[QUOTE="Abbeten"][QUOTE="KC_Hokie"]They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

KC_Hokie
Why is that scary?

You don't think a dozen people who claim they are 'experts' on the economy having the authority to print literally trillions out of thin air. Then they don't have to tell the American people. No one overseas their actions and yet their actions can easily outweight everything else going on in the country.

Except they do tell the American people what they're doing, which is why you are even able to b!tch about it in the first place.
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chessmaster1989

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#130 chessmaster1989
Member since 2008 • 30203 Posts

[QUOTE="KC_Hokie"]

[QUOTE="coolbeans90"]LOL

See, now you get why I can't vote for Johnson.

coolbeans90

They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

Inflation is actually not a problem in the U.S. I hear it's going to be another cold winter on Bull Sh!t Mountain, though.

Pretty sure that's strong evidence against global warming.
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KC_Hokie

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#131 KC_Hokie
Member since 2006 • 16099 Posts

[QUOTE="KC_Hokie"]

[QUOTE="coolbeans90"]LOL

See, now you get why I can't vote for Johnson.

coolbeans90

They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

Inflation is actually not a problem in the U.S. I hear it's going to be another cold winter on Bull Sh!t Mountain, though.

It's not right now because the worldwide economy sucks and the Euro is down.

But once that all corrects we could see rapid inflation. We're already seeing that on food and already commodities and that's just the tip.

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Abbeten

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#132 Abbeten
Member since 2012 • 3140 Posts

[QUOTE="Abbeten"][QUOTE="dsrules13"]

But its the general principle of giving wealth. There is no honest way to defend the pitiful amount of money he donated. If he believes it's one's duty to give money then his charitable donations should reflect that moral. Not tying charity and taxes directly, its an overarching idea.

dsrules13

There is a fundamental difference between taxes and charitable donations. I'm not sure why that's so hard to understand. They are entirely separate issues.

You blatantly disregarded what I had to say in that message. I said its not a direct correlation, and did not say they are fundamentally the same. I said its an overarching theme of sharing wealth. I'm not sure why that's hard to understand.

I'm not disregarding it, I'm rejecting it. Biden thinks we need to close the deficit in part with higher revenue generation. Why would you expect more charitable donations to reflect this idea?
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KC_Hokie

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#133 KC_Hokie
Member since 2006 • 16099 Posts
[QUOTE="coolbeans90"]

[QUOTE="KC_Hokie"]They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

chessmaster1989

Inflation is actually not a problem in the U.S. I hear it's going to be another cold winter on Bull Sh!t Mountain, though.

Pretty sure that's strong evidence against global warming.

The sun really does have 11 year cycles. We are near a peak now in terms of activity and therefore radiation. The next few years will be cooler.
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Abbeten

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#134 Abbeten
Member since 2012 • 3140 Posts

[QUOTE="coolbeans90"]

[QUOTE="KC_Hokie"]They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

KC_Hokie

Inflation is actually not a problem in the U.S. I hear it's going to be another cold winter on Bull Sh!t Mountain, though.

It's not right now because the worldwide economy sucks and the Euro is down.

But once that all corrects we could see rapid inflation. We're already seeing that on food and already commodities and that's just the tip.

Why yes, we could see rapid inflation if they continued expansionary monetary policy in an economic boom. But they won't do that. That's the whole point of basic monetary policy. Expansionary in a recession, contractionary in a boom. You seem to be utterly terrified that they're doing their job.
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coolbeans90

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#135 coolbeans90
Member since 2009 • 21305 Posts

[QUOTE="coolbeans90"]

[QUOTE="KC_Hokie"]They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

KC_Hokie

Inflation is actually not a problem in the U.S. I hear it's going to be another cold winter on Bull Sh!t Mountain, though.

It's not right now because the worldwide economy sucks and the Euro is down.

But once that all corrects we could see rapid inflation. We're already seeing that on food and already commodities and that's just the tip.

Total brojecture.

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coolbeans90

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#136 coolbeans90
Member since 2009 • 21305 Posts

[QUOTE="coolbeans90"]

[QUOTE="KC_Hokie"]They printed literally trillions out of thin air over the last few years. And they didn't tell anyone until 1.5 years later.

I call that scary and a system that needs revision. 12 people or whatever sitting in a room with the authority to print trillions out of thin air with the American people not even knowing it's happening is scary.

chessmaster1989

Inflation is actually not a problem in the U.S. I hear it's going to be another cold winter on Bull Sh!t Mountain, though.

Pretty sure that's strong evidence against global warming.

It's science!

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KC_Hokie

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#137 KC_Hokie
Member since 2006 • 16099 Posts

[QUOTE="KC_Hokie"][QUOTE="Abbeten"] Why is that scary?-Sun_Tzu-
You don't think a dozen people who claim they are 'experts' on the economy having the authority to print literally trillions out of thin air. Then they don't have to tell the American people. No one overseas their actions and yet their actions can easily outweight everything else going on in the country.

Except they do tell the American people what they're doing, which is why you are even able to b!tch about it in the first place.

Like I said they told us 1.5+ years later. I think that's some scary **** when a group of a dozen people say 'oh by the way we printed trillions of dollars the other year'.

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Easports48

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#138 Easports48
Member since 2005 • 1761 Posts

Romney Talks out of both sides of his mouth more than ANYONE running for President.

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dsrules13

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#139 dsrules13
Member since 2010 • 1624 Posts

So was anyone surprised to see these stats on Romney, did it change anyone's view of him at all?

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#140 KC_Hokie
Member since 2006 • 16099 Posts

[QUOTE="KC_Hokie"]

[QUOTE="coolbeans90"]

Inflation is actually not a problem in the U.S. I hear it's going to be another cold winter on Bull Sh!t Mountain, though.

Abbeten

It's not right now because the worldwide economy sucks and the Euro is down.

But once that all corrects we could see rapid inflation. We're already seeing that on food and already commodities and that's just the tip.

Why yes, we could see rapid inflation if they continued expansionary monetary policy in an economic boom. But they won't do that. That's the whole point of basic monetary policy. Expansionary in a recession, contractionary in a boom. You seem to be utterly terrified that they're doing their job.

It happened in the late 70s once the economy started recovering. It's going to happen again. You can't print trillions and trillions out thin air and not have substantial inflation at some point.

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-Sun_Tzu-

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#141 -Sun_Tzu-
Member since 2007 • 17384 Posts

[QUOTE="-Sun_Tzu-"][QUOTE="KC_Hokie"]You don't think a dozen people who claim they are 'experts' on the economy having the authority to print literally trillions out of thin air. Then they don't have to tell the American people. No one overseas their actions and yet their actions can easily outweight everything else going on in the country.KC_Hokie

Except they do tell the American people what they're doing, which is why you are even able to b!tch about it in the first place.

Like I said they told us 1.5+ years later. I think that's some scary **** when a group of a dozen people say 'oh by the way we printed trillions of dollars the other year'.

Ben Bernanke had a press conference the day he announced QE3. What are you talking about?
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KC_Hokie

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#142 KC_Hokie
Member since 2006 • 16099 Posts
[QUOTE="KC_Hokie"]

[QUOTE="-Sun_Tzu-"] Except they do tell the American people what they're doing, which is why you are even able to b!tch about it in the first place. -Sun_Tzu-

Like I said they told us 1.5+ years later. I think that's some scary **** when a group of a dozen people say 'oh by the way we printed trillions of dollars the other year'.

Ben Bernanke had a press conference the day he announced QE3. What are you talking about?

Not even talking about the quantitative easing. They printed trillions they never told anyone about and told us two years later.
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coolbeans90

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#143 coolbeans90
Member since 2009 • 21305 Posts

KC_Hokie has convinced me that the Fed has recently found its calling to go on a crusade to destroy itself.

BRB buying guns, food, ammo, beer and gold.

Or just beer.

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KC_Hokie

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#144 KC_Hokie
Member since 2006 • 16099 Posts

KC_Hokie has convinced me that the Fed has recently found its calling to go on a crusade to destroy itself.

BRB buying guns, food, ammo, beer and gold.

Or just beer.

coolbeans90
It do believe it needs to be reformed. I actually agree with Bernie Sanders on one thing (other than the time of day).
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Abbeten

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#145 Abbeten
Member since 2012 • 3140 Posts

[QUOTE="Abbeten"][QUOTE="KC_Hokie"]It's not right now because the worldwide economy sucks and the Euro is down.

But once that all corrects we could see rapid inflation. We're already seeing that on food and already commodities and that's just the tip.

KC_Hokie

Why yes, we could see rapid inflation if they continued expansionary monetary policy in an economic boom. But they won't do that. That's the whole point of basic monetary policy. Expansionary in a recession, contractionary in a boom. You seem to be utterly terrified that they're doing their job.

It happened in the late 70s once the economy started recovering. It's going to happen again. You can't print trillions and trillions out thin air and not have substantial inflation at some point.

mmm yes, the situations have so many parallels, including our wage and price controls and the oil shocks and the equivalent liquidity traps and oh wait no that comparison totally falls apart
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coolbeans90

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#146 coolbeans90
Member since 2009 • 21305 Posts

[QUOTE="coolbeans90"]

KC_Hokie has convinced me that the Fed has recently found its calling to go on a crusade to destroy itself.

BRB buying guns, food, ammo, beer and gold.

Or just beer.

KC_Hokie

It do believe it needs to be reformed. I actually agree with Bernie Sanders on one thing (other than the time of day).

I think Bernie Sanders should look into voluntary euthanasia.

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#147 KC_Hokie
Member since 2006 • 16099 Posts

[QUOTE="KC_Hokie"]

[QUOTE="Abbeten"] Why yes, we could see rapid inflation if they continued expansionary monetary policy in an economic boom. But they won't do that. That's the whole point of basic monetary policy. Expansionary in a recession, contractionary in a boom. You seem to be utterly terrified that they're doing their job.Abbeten

It happened in the late 70s once the economy started recovering. It's going to happen again. You can't print trillions and trillions out thin air and not have substantial inflation at some point.

mmm yes, the situations have so many parallels, including our wage and price controls and the oil shocks and the equivalent liquidity traps and oh wait no that comparison totally falls apart

The only real difference today is the fact the world economy is struggling. Plus, the Euro is a disaster which really helps the dollar.

But it's not going to last. Inflation has to hit. You don't print $16 trillion out of thin air in a single year without that hitting eventually.

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-Sun_Tzu-

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#148 -Sun_Tzu-
Member since 2007 • 17384 Posts

[QUOTE="KC_Hokie"][QUOTE="coolbeans90"]

KC_Hokie has convinced me that the Fed has recently found its calling to go on a crusade to destroy itself.

BRB buying guns, food, ammo, beer and gold.

Or just beer.

coolbeans90

It do believe it needs to be reformed. I actually agree with Bernie Sanders on one thing (other than the time of day).

I think Bernie Sanders should look into voluntary euthanasia.

Probably legal in Vermont. But Bernie Sanders is good people.
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WSGRandomPerson

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#149 WSGRandomPerson
Member since 2007 • 13697 Posts
Nothing of importance when it comes to presidential candidates.
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#150 Abbeten
Member since 2012 • 3140 Posts

[QUOTE="Abbeten"][QUOTE="KC_Hokie"]It happened in the late 70s once the economy started recovering. It's going to happen again. You can't print trillions and trillions out thin air and not have substantial inflation at some point.

KC_Hokie

mmm yes, the situations have so many parallels, including our wage and price controls and the oil shocks and the equivalent liquidity traps and oh wait no that comparison totally falls apart

The only real difference today is the fact the world economy is struggling. Plus, the Euro is a disaster which really helps the dollar.

But it's not going to last. Inflation has to hit. You don't print $16 trillion out of thin air in a single year without that hitting eventually.

That's actually a huge difference, given the fact that the high demand for liquidity right now is preventing any inflation spikes. And your apocalyptic scenario here is built on the assumption that the Fed won't implement contraction policies when the economy booms. Which is a huge and stupid assumption to make.