Vegas Free-for-All - Dow Hit 14,000 Today

Number51

Feb 3, 2013
12:52pm

Quote

Originally posted by: hoops2
I don't recall anyone saying the first point.

Quote
Originally posted by: Roulette Man

You quite frankly aren't worth responding to

Got it. It was never said that Obama would ruin America, and if it was said, so what.

Zero accountability from the right.

Just sad.

jatki

Feb 3, 2013
1:16pm

Block User

Quote

Originally posted by: Number51

Quote
Originally posted by: hoops2
I don't recall anyone saying the first point.

Quote
Originally posted by: Roulette Man

You quite frankly aren't worth responding to

Got it. It was never said that Obama would ruin America, and if it was said, so what.

Zero accountability from the right.

Just sad.

Quibbling over what was said on an internet forum? How about answering my quiz?

BONJOUR!

J

arshaleign

Feb 3, 2013
3:40pm

Block User

Quote

Originally posted by: jatki99
QUIZ TIME: Who once said "we can't mortgage our children's future on a mountain of debt"?...

I don't know, and it would sort be cheating to google it, but here is my best guess: Barack Obama!

Here is the reasoning behind my guess.

President Obama has increased spending less than any president in modern history - according to the Wall Street Journal.

Obama opposed the two biggest components of our current debt, the war in Iraq and the Bush tax cuts for the wealthy.

Obamacare lowers the deficit - according to the Congressional Budget Office (CBO).

Did I get the answer to the quiz right? Even if I got the answer wrong, you must admit my reasoning was sound.

MoneyLA

Feb 3, 2013
4:37pm

Block User

Question: Many economic statistics are "adjusted for inflation." Is it appropriate to adjust the Dow Jones Industrial Average for inflation? And if so, what would the Dow be now if priced in 1990, 1980 or 1970 dollars?

hoops2

Feb 3, 2013
9:35pm

Block User

forky continues to supply misinformation

President Obama has increased spending less than any president in modern history - according to the Wall Street Journal. 2008 SPENDING $3 TRILLION; 2013 SPENDING $3.8 TRILLION

Obama opposed the two biggest components of our current debt, the war in Iraq and the Bush tax cuts for the wealthy. WAR IN IRAQ HAS BEEN DONE FOR A WHILE ; WHILE THE TAX INCREASE WAS USED TO PAY FOR THE EXTENSION OF UNEMPLOYMENT. DEBT IS STILL OVER $1 TRILLION PER YEAR.

Obamacare lowers the deficit - according to the Congressional Budget Office (CBO)." THE CBO TAKES THE ASSUMPTIONS SUPPLIED BY OBAMA AND ADDS THEM UP. THEY PROVIDE NO ANALYSIS OR VERFIFICATION THAT THE ASSUMPTIONS ARE CORRECT. FOR EXAMPLE GDP GROWTH IS ESTIMATED AT OVER 3%; IT IS CURRENTLY NEGATIVE

hoops2

Feb 3, 2013
9:37pm

Block User

Quote

Originally posted by: MoneyLA
Question: Many economic statistics are "adjusted for inflation." Is it appropriate to adjust the Dow Jones Industrial Average for inflation? And if so, what would the Dow be now if priced in 1990, 1980 or 1970 dollars?

The last time the Dow hit 14,000 the price/earnings ratio was I believe 12 (which was very high). The current p/e ratio is more in line with hsitorical averages & is much less than that

Don

Feb 3, 2013
11:45pm

Block User

Quote

DJIA close on 1 February 2013: 14009.79.

In 1990 dollars: 7,976
In 1980 dollars: 5,028
In 1970 dollars: 2,368
In The-Year-Of-DonDiego's-Birth dollars: 1,471
Ref: BLS Inflation Calculator

That there inflation do seem to take a bite outta things, don't it?

arshaleign

Feb 4, 2013
2:29am

Block User

Quote

Originally posted by: hoops2
forky continues to supply misinformation

President Obama has increased spending less than any president in modern history - according to the Wall Street Journal. 2008 SPENDING $3 TRILLION; 2013 SPENDING $3.8 TRILLION

Obama opposed the two biggest components of our current debt, the war in Iraq and the Bush tax cuts for the wealthy. WAR IN IRAQ HAS BEEN DONE FOR A WHILE ; WHILE THE TAX INCREASE WAS USED TO PAY FOR THE EXTENSION OF UNEMPLOYMENT. DEBT IS STILL OVER $1 TRILLION PER YEAR.

Obamacare lowers the deficit - according to the Congressional Budget Office (CBO)." THE CBO TAKES THE ASSUMPTIONS SUPPLIED BY OBAMA AND ADDS THEM UP. THEY PROVIDE NO ANALYSIS OR VERFIFICATION THAT THE ASSUMPTIONS ARE CORRECT. FOR EXAMPLE GDP GROWTH IS ESTIMATED AT OVER 3%; IT IS CURRENTLY NEGATIVE

Generally folks who type in all caps are not too reliable. On the other hand:

Wall Steet Journal - May 2012 - "Government outlays rising at slowest pace since 1950s"

Politifact - June 2012 - "The CBO said this about the health care law back in 2010: It lowers the deficit, by about $124 billion over 10 years. And in 2011, when Republicans offered a bill to repeal the health care law, the CBO said that increased the deficit, by about $210 billion over 10 years."

hoops2

Feb 4, 2013
2:47am

Block User

As usual forky deals in half truths.

The 2009 budget was passed in the fall of 2008. obama became president in 2009 & had within his power to trim the budget - he didn't.

As mentioned before the CBO takes the assumptions provided to it & adds it all up. It does not pass judegment on the accuracy of the assumptions. The obama assumptions include 3 to 4% GDP growth, which sadly isn't happening

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