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Guest yobob1

B4 the Bell, Freedomday, Aug. 13, 2004

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I/10 PPI

ex food and energy 1/10

Government stats

who cares

They mean nothing

More lies

BUTT(_)_) ...

 

The trade gap widened by a surprising 19.1 percent to a record $55.8 billion, marking the largest one-month percentage worsening of the trade gap since February 1999. In dollar terms, the widening of the trade deficit was a record.

 

Wall Street had forecast the deficit would widen slightly to $46.9 billion from the initial May estimate of $46.0 billion.

 

Now we see how Crude Earl is gobbling a hole in the nation's finances.

 

They can jigger the PPI, but they can't hide the need to borrow close to $2 billion a day.

 

This ship is going down ...

The balance of payments deficit is running at a $750 billion annual pace now. Wow! :o So far, Japan and the Chinas are picking up all the $s they obtain in their trade with the US - but will OPEC members and the rest of the world be so kind as to keep accumulating all the $s they receive? :blink:

 

On another subject, US domestic money supply measure are still stagnating after 10 weeks. Liquidity is being sucked away by various factors. The outlook for the market near term remains grim. :ph34r:

 

PS - Great rant yobob1. It's going to be a Freaky Friday the 13th.

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Perfect timing by King George to float the concept of a consumption tax to replace income taxes.

That's the pitch. But the income tax is written into the constitution now, and they'll keep the vestiges of it on the statute books.

 

Then the next "emergency" comes along (war, typically), and we repeat the 20th century 'progression':

 

1913 - income tax for the richest 1%; "working man will never pay"

 

1943 - withholding instituted to take income tax from workers' paychecks

 

1960s - even minimum wage teenagers in hamburger stands are taxed

 

Lie to me

I promise I'll believe

 

- Sheryl Crow

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Perfect timing by King George to float the concept of a consumption tax to replace income taxes.

That's the pitch. But the income tax is written into the constitution now, and they'll keep the vestiges of it on the statute books.

 

Then the next "emergency" comes along (war, typically), and we repeat the 20th century 'progression':

 

1913 - income tax for the richest 1%; "working man will never pay"

 

1943 - withholding instituted to take income tax from workers' paychecks

 

1960s - even minimum wage teenagers in hamburger stands are taxed

 

Lie to me

I promise I'll believe

 

- Sheryl Crow

machinehead,

Excellent point!

That's one of the reasons I'm very leery about a flat tax, a veritable "wolf in sheep's clothing"; once all deductions are eliminated, what is to prevent the politicians from jacking up the rates?

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Perfect timing by King George to float the concept of a consumption tax to replace income taxes.

That's the pitch. But the income tax is written into the constitution now, and they'll keep the vestiges of it on the statute books.

 

Then the next "emergency" comes along (war, typically), and we repeat the 20th century 'progression':

 

1913 - income tax for the richest 1%; "working man will never pay"

 

1943 - withholding instituted to take income tax from workers' paychecks

 

1960s - even minimum wage teenagers in hamburger stands are taxed

 

Lie to me

I promise I'll believe

 

- Sheryl Crow

machinehead,

Excellent point!

That's one of the reasons I'm very leery about a flat tax, a veritable "wolf in sheep's clothing"; once all deductions are eliminated, what is to prevent the politicians from jacking up the rates?

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Just over at the beach checking one the status of the weather. Hazy, humid and windy out of the southeast here in Lauderdale.

 

It seems to me that the majority of the devestation from Charley is actually going to come to the Carolinas up to Virgina...as the first storm headed their way will fully saturate the ground, and when Charley comes 36 hours later - the flooding will be epic.

 

They'd better be emptying reservoirs and evacuating the lowlands soon.

 

Got Ark?

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As for taxation...the biggest gift in the system available to most of us is the allowance for a tax-free windfall by flipping homes every two years. Any discussion of repealing that baby and the housing bubble explodes.

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once all deductions are eliminated, what is to prevent the politicians from jacking up the rates?

 

Absolutely ZERO, ZILCH.

 

It works similiar to the "diving board function" in THE CALCULUS.

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I feel like I'm in the Twilight Zone, Henry Blodget now on Crapvision discussing Google IPO! Where's Mary Meeker? :huh:

You are in the TwilightZone.

 

Check your bedroom...Mary is waiting in bed for you, and the Ape Woman is going to video tape the two of you from the closet.

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Don't say that,Plunger!!! We have reservations to spend the weekend on Folly Beach (off Charleston) this weekend. My brother leaves Tues for cancer surgery in NYC, and this is our big "relax and feel the love going away party." Who'd a thunk?????

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Good morning crew- well it's Friday the 13 th how fitting-Huh! Google is being priced today no matter wether they attract a lot of $ or a little, those $'s have to come out of some other stock to be placed in Google and that ain't Bullish. Window at the Bell for 30 minutes, Helmets on, Buckle up! ;)

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