Author Topic: Go go gadget economy! (Read 7650 times)

Bocsius · « **on:** October 30, 2008, 09:45:20 AM »

Economy Shrinks in 3Q, Signaling Recession

While the economy has been in shambles for a while, this is the first quarter that actually showed a GDP decline. Meanwhile, in the land of big oil...

Exxon Mobil posts biggest US quarterly profit ever

Beardo · « **Reply #1 on:** October 30, 2008, 10:53:26 AM »

With the price of oil falling fast this will not go on very long.

chronovore · « **Reply #2 on:** October 30, 2008, 10:58:47 AM »

Didn't Obama have a plan to tax oil companies for profiting under some kind of war profiteering scheme?

Beardo · « **Reply #3 on:** October 30, 2008, 10:59:34 AM »

Quote from: chronovore on October 30, 2008, 10:58:47 AM

Didn't Obama have a plan to tax oil companies for profiting under some kind of war profiteering scheme?

Yeah he wants to (force them to) share the wealth.

John Dunbar · « **Reply #4 on:** October 30, 2008, 11:03:23 AM »

Quote from: Beardo on October 30, 2008, 10:59:34 AM

Quote from: chronovore on October 30, 2008, 10:58:47 AM
Didn't Obama have a plan to tax oil companies for profiting under some kind of war profiteering scheme?

Yeah he wants to (force them to) share the wealth.

Serves the fucks right.

Don Flamenco · « **Reply #5 on:** October 30, 2008, 11:08:23 AM »

Quote from: Beardo on October 30, 2008, 10:59:34 AM

Quote from: chronovore on October 30, 2008, 10:58:47 AM
Didn't Obama have a plan to tax oil companies for profiting under some kind of war profiteering scheme?

Yeah he wants to (force them to) share the wealth.

they've had 8 years of special best friend privileges, so why not go the other way for a little bit.

tiesto · « **Reply #6 on:** October 30, 2008, 11:09:51 AM »

Quote from: Beardo on October 30, 2008, 10:59:34 AM

Quote from: chronovore on October 30, 2008, 10:58:47 AM
Didn't Obama have a plan to tax oil companies for profiting under some kind of war profiteering scheme?

Yeah he wants to (force them to) share the wealth.

Those poor oil companies...

Beardo · « **Reply #7 on:** October 30, 2008, 11:17:10 AM »

Populism

TakingBackSunday · « **Reply #8 on:** October 30, 2008, 11:30:59 AM »

They deserve it, Beardo. These are OIL COMPANIES

I think you're a joke character

Beardo · « **Reply #9 on:** October 30, 2008, 11:31:59 AM »

Quote from: Senator Government on October 30, 2008, 11:30:59 AM

They deserve it, Beardo. These are OIL COMPANIES

I think you're a joke character

I bet they eat babies and rape veterans at the same time!!

TakingBackSunday · « **Reply #10 on:** October 30, 2008, 11:32:56 AM »

Then they're forgiven

Olivia Wilde Homo · « **Reply #11 on:** October 30, 2008, 01:41:01 PM »

Quote from: Green Shinobi on October 30, 2008, 11:46:30 AM

I don't have a problem with insane profits being made on manufactured products, technology, services, food products, etc.

I have a really big fucking problem with insane profits being made on absolute essentials like medicine, health care services and energy.

Agreed.

Mandark · « **Reply #12 on:** October 30, 2008, 01:59:08 PM »

What's the official line on this one?

1) The economy's fine, unless you're a whining liberal pessimist.

2) This is being caused by the minimum wage hike! Boo Pelosi!

3) This is being caused by the Community Reinvestment Act! Boo Jimmy Carter and black people!

4) All the other indicators are down, ~~but GDP growth is still positive~~. Oops!

Van Cruncheon · « **Reply #13 on:** October 30, 2008, 02:02:49 PM »

one of the following

a) the economy is up, because the dow spiked up on monday! crisis over, vote mccain!

-or-

b) america is doomed because we didn't trust the free market; we should be riding out this bust, and if the lazy poors want jobs during it, they should get jobs! *hands waving, nervous chuckles*

Mandark · « **Reply #14 on:** October 30, 2008, 02:05:13 PM »

That's right! The only people hit hard by a deep downward spiral in the economy will be those who deserved it.

America! Even our depressions are meritocracies!

Eric P · « **Reply #15 on:** October 30, 2008, 02:13:28 PM »

my last company just laid off a large portion of its staff today including the people who fired me.

Mandark · « **Reply #16 on:** October 30, 2008, 02:29:21 PM »

Yeah, the stock market gets trumped up as being more of a catch-all measure than it really is.

So does GDP for that matter.

Wage and income growth, purchasing power, average debt, underemployment, inequality, immobility and the cost of certain things (college and healthcare) should get more attention than they do. Discussing the health of the economy in narrow terms like the Dow or GDP misses the point badly.

Beardo · « **Reply #17 on:** October 30, 2008, 02:29:33 PM »

Gas is less than $2 here!!!! Happy days are here again. Suck it Hippies.

Bocsius · « **Reply #18 on:** October 30, 2008, 02:37:29 PM »

Gas prices went up, Americans took it on the chin, oil companies experienced record profits.
Gas prices went up more, Americans are bruised and battered, oil companies experienced record profits again.
Gas prices went up to the moon, Americans in sad heap, economy cratered, oil companies shattered the new records.

Let's give them a tax cut.

Olivia Wilde Homo · « **Reply #19 on:** October 30, 2008, 02:38:44 PM »

Quote

There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning.

- Warren Buffett

TakingBackSunday · « **Reply #20 on:** October 30, 2008, 02:40:47 PM »

I've never fully understood that statement. Is he being a pretentious asshole or is admitting the faults of the "winning" class?

Mandark · « **Reply #21 on:** October 30, 2008, 02:43:02 PM »

Quote from: Senator Government on October 30, 2008, 02:40:47 PM

I've never fully understood that statement. Is he being a pretentious asshole or is admitting the faults of the "winning" class?

The second. Or rather, he's saying that the distribution of wealth has become warped.

Obama tells an anecdote about meeting him where Buffet points out that he pays a lower rate on his taxes than his secretary does, thanks to the capital gains and payroll taxes.

Beardo · « **Reply #22 on:** October 30, 2008, 02:54:19 PM »

Warren Buffet is more than welcome to pay more taxes nothing stopping him. Why doesnt he?

Loki · « **Reply #23 on:** October 30, 2008, 02:56:17 PM »

Quote from: Mandark on October 30, 2008, 02:05:13 PM

America! Even our depressions are meritocracies!

This literally made me lol.

Beardo · « **Reply #24 on:** October 30, 2008, 02:57:43 PM »

Quote from: Green Shinobi on October 30, 2008, 02:51:27 PM

However, this doesn't always reflect the actual performance of the company, right? Theoretically, your stock value could drop, but if the company is profiting, you'd still be getting dividends paid to you and still be making money in that way?

Yes, the main reason the stock market has dropped so much (and gas) is because everything was inflated. Just like properties the prices of most companies was way to much. Now the market is fixing itself.

Mandark · « **Reply #25 on:** October 30, 2008, 02:58:10 PM »

Quote from: Beardo on October 30, 2008, 02:54:19 PM

Warren Buffet is more than welcome to pay more taxes nothing stopping him. Why doesnt he?

Awwww.

It's adorable when conservatives pretend to not understand collective action dilemmas.

Beardo · « **Reply #26 on:** October 30, 2008, 03:00:12 PM »

Awww its adorable when liberals dont understand personal actions.

Buffet can pay 100% taxes if he wants to, but he shouldn't force it on other people. Forcing other people to do things is wrong. But I guess to socialists like him and you guys here forcing other people to do your way is just they way of life.

SMH

Mandark · « **Reply #27 on:** October 30, 2008, 03:01:39 PM »

Forcing people to pay taxes is wrong?

Well, you're always free to move to... what's that place that doesn't have taxes again?

Beardo · « **Reply #28 on:** October 30, 2008, 03:03:31 PM »

Quote from: Mandark on October 30, 2008, 03:01:39 PM

Forcing people to pay taxes is wrong?

Well, you're always free to move to... what's that place that doesn't have taxes again?

Of course taxes are a reality but he wants to force other people to pay more taxes. If anything he should set an example and pay more than he thinks is fair. But he wont because like most liberals he has all these great ideas on what other people should do, but never actually does it himself.

Mandark · « **Reply #29 on:** October 30, 2008, 03:08:26 PM »

Beardo: But you just said forcing people to do something is wrong, and that's what taxes are. So it's okay to force people to pay the same rate they paid last year, but unfair to force them to pay a higher rate than last year, even if it's the same rate as ten years ago?

I'm not sure I follow.

Beardo · « **Reply #30 on:** October 30, 2008, 03:08:53 PM »

Quote from: Forgotten Ancient on October 30, 2008, 03:06:32 PM

Quote from: Beardo on October 30, 2008, 03:00:12 PM
Awww its adorable when liberals dont understand personal actions.

Buffet can pay 100% taxes if he wants to, but he shouldn't force it on other people. Forcing other people to do things is wrong. But I guess to socialists like him and you guys here forcing other people to do your way is just they way of life.

SMH

When you live in a country, you are forced to live by that country's laws. If you have a problem with taxes, I suggest you go find yourself a nice island where you can pay 0% taxes on your $0 income, zero roads, zero policies, zero education, and your zero society.

This whole idea of a progressive tax being socialist needs to GTFO. If you don't like it, nobody's forcing you to stay.

And so it begins. For all you liberal hippies who didnt like the Iraq war you can just get out. I mean that's how it is right FA? Love it or leave it.

Beardo · « **Reply #31 on:** October 30, 2008, 03:11:06 PM »

Quote from: Mandark on October 30, 2008, 03:08:26 PM

Beardo: But you just said forcing people to do something is wrong, and that's what taxes are. So it's okay to force people to pay the same rate they paid last year, but unfair to force them to pay a higher rate than last year, even if it's the same rate as ten years ago?

I'm not sure I follow.

Forcing people to do stuff is wrong.

The majority of taxes are ok, and most people can stomach some income tax, but it's very hypocritical for Buffet to say we need to do more when he is in a position to do exactly what he is saying, pay more taxes.

Basically he sums up liberal philosophy perfectly, make other people feel guilty for not sacrificing, even though he doesnt either.

Beardo · « **Reply #32 on:** October 30, 2008, 03:11:48 PM »

Quote from: Forgotten Ancient on October 30, 2008, 03:10:41 PM

When it comes to government policy, the government itself should set the example. For starters - the folks making $250,000+ in congress and oval office pushing a plan that will increase their own taxes. Thankfully, it looks like that's going to happen.

Dont even get me started on congress being a bunch of shit lickers. All of them too.

Mandark · « **Reply #33 on:** October 30, 2008, 03:12:20 PM »

Wait, so the proposed increase in the capital gains rate would have a Warren Buffet exception?

I thought he was in favor of a tax system that would affect him as well.

Mandark · « **Reply #34 on:** October 30, 2008, 03:14:12 PM »

Cohen: Shhhhhhhhh you're stealing my next post!

Beardo · « **Reply #35 on:** October 30, 2008, 03:14:17 PM »

Quote from: Genghis Cohen on October 30, 2008, 03:13:43 PM

Can we apply Beardo's logic to all those in favor of the Iraq war who didn't go fight

Please do

Beardo · « **Reply #36 on:** October 30, 2008, 03:15:06 PM »

Quote from: Forgotten Ancient on October 30, 2008, 03:12:55 PM

If I believed in the Love it or Leave it, i would've bailed out awhile ago. You're the one implying that if one wants something to change they should do it themselves. If you don't want to be "forced" to do something, the only way for that to happen is to go someplace that doesn't have a government.

Or I could argue my point. But i guess a video game forum isnt the best place to do that.

Mandark · « **Reply #37 on:** October 30, 2008, 03:16:10 PM »

Quote from: Beardo on October 30, 2008, 03:14:17 PM

Quote from: Genghis Cohen on October 30, 2008, 03:13:43 PM
Can we apply Beardo's logic to all those in favor of the Iraq war who didn't go fight

Please do

If you really want Saddam out of power, what's stopping you from buying a gun and traveling to Iraq?

Brehvolution · « **Reply #38 on:** October 30, 2008, 03:16:47 PM »

$1B profit for each chin.

TakingBackSunday · « **Reply #39 on:** October 30, 2008, 03:17:55 PM »

Beardo, I'm gonna force you to suck mah cock.

Is that wrong?

Mandark · « **Reply #40 on:** October 30, 2008, 03:20:04 PM »

Quote from: Genghis Cohen on October 30, 2008, 03:17:46 PM

Next time someone flies a plane into a building i'm going to stop the debate of military action with a "oh yeah are you going to fight in the war?" if the answer is no, then no war.

Even that isn't as far as Beardo's going. He's talking about people taking individual actions, rather than waiting until enough people have signed on to then take a collective action.

In the case of war, why wait until there's a whole army to have your back? If you want to fight the bad guys, nothing's stopping you from bootstrapping yourself into an Army Of One.

Brehvolution · « **Reply #41 on:** October 30, 2008, 03:25:31 PM »

Quote from: Forgotten Ancient on October 30, 2008, 03:18:19 PM

Quote from: Zero Hero on October 30, 2008, 03:16:47 PM
(Image removed from quote.)

$1B profit for each chin.

I see several hundred in that picture. Now now, Profit != revenue.

I think there is more under his tie. They are tucked in.

Mandark · « **Reply #42 on:** October 30, 2008, 03:27:08 PM »

Surrounded by filth and disease? Why aren't you out there building an aqueduct?

Mandark · « **Reply #43 on:** October 30, 2008, 03:31:25 PM »

I don't see what the big deal is about controlling immigration. How hard is it to build a wall your damn self?

Brehvolution · « **Reply #44 on:** October 30, 2008, 03:33:17 PM »

Who's gonna do all the shit jobs if we force the mexicans out?

Bocsius · « **Reply #45 on:** October 30, 2008, 03:51:07 PM »

If you really want clean air and environment you can get your own hazmat suit with an oxygen tank. Otherwise, step off.

Mandark · « **Reply #46 on:** October 30, 2008, 03:52:02 PM »

Quote from: Bocsius on October 30, 2008, 03:51:07 PM

If you really want clean air and environment you can get your own hazmat suit with an oxygen tank. Otherwise, step off.

If Pauly f'n Shore could make his own Bio-Dome, how hard could it possibly be?

TVC15 · « **Reply #47 on:** October 30, 2008, 03:59:14 PM »

Quote from: Mandark on October 30, 2008, 03:52:02 PM

Quote from: Bocsius on October 30, 2008, 03:51:07 PM
If you really want clean air and environment you can get your own hazmat suit with an oxygen tank. Otherwise, step off.

If Pauly f'n Shore could make his own Bio-Dome, how hard could it possibly be?

What a shock! A liberal distorting the truth to fit his own twisted agenda. Pauly Shore did not make his own Bio-Dome. Pauly Shore is tricked into going into the Bio-Dome because his pissed girlfriend tells him there's a kegger going on inside. IIRC, she is pissed because Pauly faked being sick or something to get out of some hippy bullshit she wanted to do.

This message is approved by John McCain.

Mandark · « **Reply #48 on:** October 30, 2008, 04:23:11 PM »

I will not stand by and let you denigrate the contributions made by our brave troops in the field! Why do you hate America?

Fresh Prince · « **Reply #49 on:** October 30, 2008, 04:24:44 PM »

Quote from: Zero Hero on October 30, 2008, 03:33:17 PM

Who's gonna do all the shit jobs if we force the mexicans out?

Poor black people.

Kestastrophe · « **Reply #50 on:** October 30, 2008, 04:30:46 PM »

Quote from: Mandark on October 30, 2008, 02:29:21 PM

Yeah, the stock market gets trumped up as being more of a catch-all measure than it really is.

So does GDP for that matter.

Wage and income growth, purchasing power, average debt, underemployment, inequality, immobility and the cost of certain things (college and healthcare) should get more attention than they do. Discussing the health of the economy in narrow terms like the Dow or GDP misses the point badly.

Those factors are all very much related (e.g. the aggregate supply dynamic captures employment, income, and inflation). The stock market gets catches alot of headlines because it is a leading indicator of how the economy is doing.

Bildi · « **Reply #51 on:** October 31, 2008, 12:33:50 AM »

I hear you guys have a 1% interest rate now.

I'm so jealous.

Bildi · « **Reply #52 on:** October 31, 2008, 12:40:07 AM »

Yeah, it's not too hard to tell I have a home loan.

Loki · « **Reply #53 on:** October 31, 2008, 12:51:35 AM »

Quote from: Forgotten Ancient on October 31, 2008, 12:31:18 AM

Thought this was interesting:

(Image removed from quote.)

LOL @ the divergence starting in the 80's (gee, what happened around that time?), and the extent of the disparity right now.

Mandark · « **Reply #54 on:** October 31, 2008, 12:55:55 AM »

Reagan certainly let that Gini out of the bottle.

Oh how I crack myself up.

Fresh Prince · « **Reply #55 on:** October 31, 2008, 01:18:58 AM »

Quote from: Bildi on October 31, 2008, 12:40:07 AM

Yeah, it's not too hard to tell I have a home loan.

3 more years!

tiesto · « **Reply #56 on:** October 31, 2008, 01:38:39 AM »

Alright, the latest slanders I'm getting from all my Republican FB buddies against Obama is that there is no way he can afford everything he proposes just by taxing the rich, so eventually the middle class will get taxed heavily. And I love how none of them even attempt to counter when I bring up Palin and her fundie nutjob beliefs... they just passively ignore it.

Olivia Wilde Homo · « **Reply #57 on:** October 31, 2008, 04:22:20 PM »

The true middle class is a dying breed.

If you're "middle class" and finding that your checkbook balance is getting smaller and smaller every bill time, congrats, you're on the losing side!

News:

Author Topic: Go go gadget economy! (Read 7650 times)