Gyroscopic Investing

I thought the folks here might like this from Forbes:

http://www.forbes.com/sites/johntamny/2 ... e-to-lose/

Thanks for the link. I didn't watch the debate, and that article makes me glad I chose not to. I too often find myself yelling at the TV...this would have been no exception. 

I quite enjoyed the debate.

I thought that Romney won hands down. He has a great plan to revive the economy. Obama's plan has failed miserably.

Reub wrote: I thought that Romney won hands down. He has a great plan to revive the economy. Obama's plan has failed miserably.

I agree. He just needs to put a few more women in binders!

Any one who utters "balance the budget" and "economic recovery" in the same economic debate either has a very different definition of "economic recovery" than most people, or simply don't know what they're talking about.

Unfortunately I think they both did.

Fortunately, they probably both said it with their fingers crossed .

A difference is that one has already failed at it.

Reub wrote: A difference is that one has already failed at it.

With respect to balancing the budget, they all fail at it.

The budget is not designed to be balanced in the world we have created for ourselves.

Our entire tax & spending system is designed to "fail" to balance the budget in a severe recession.  The stimulus package hasn't really made up that much of the accumulated deficits since 2008.  Between tax-receipts falling and safety net spending increasing, along with a slowly-swelling SS & Medicare payout, this sucker was pre-designed to explode on us in the event of a harsh recession.

For one, I'm glad our government has at least SOME counter-cyclicality to its spending & tax code without having to even try.  I tend to think a much bigger payroll tax cut in 2009 would have been one single thing that would have seriously improved our position at this point.

I thought Obama won the debate this time as Romney screwed up big time, twice.  But Romney is still too much hat, too little cattle.  He needs to have specifics (or address why he doesn't) more than just attacking Obama's record, which clearly is a failure compared to what Romney claims is possible or what Obama promised.

If I were in a swing state, I would hold my nose and vote for Romney even though he is socially repressive and I think that he thinks that he is the second coming of Eisenhower in regards to foreign policy and will lead us into or in WWIII (or IV depending on your perspective).  We need a wholesale shakeup in government and Obama is clearly not delivering that.

If Romney can't deliver or turns the USA into a crony capitalist banana republic, I suspect it will be the end of the Republican party as we know it.

Simonjester wrote:

MachineGhost wrote: I suspect it will be the end of the Republican party as we know it.

and good riddance... if only they can take the democrats with them when they go...