Hope & Change With New Congress

[extanker]

Originally Posted by brp987

Problem is, the credit card we use for hut burning implements is in danger of being refused. Peter Schiffs theory on QE2 is that Fed would like to maintain the appearance of normalcy and avoid the panic that would result if the Treasury had an auction and no buyers showed up. It is widely acknowledged that QE can't lower interest rates much from where they are. So why do it? Because rates might spike dramatically if the Treasury's big auction party was greeted with crickets. Not to mention all the fun that would ensue given we have an adjustable rate mortgage on our national debt invested in short term bonds.

Zerohedge had a much more negative take on this QE stuff but I'm not familiar with them enough to know if they are credible. Schiff is the gold standard in my book, so to speak. GLD =

tell pete schiff the US issues the credit cards and uses them...no one can afford not to accept them...still dont believe...well then the president can make one phone call to the mint ....print mees sum of dat green stuf hommie

[Perfectlap]

well that was quick...The Republicans shot up jobs by 151,000!
Since December 2009 jobs have risen by 875,000.


check out the trend chart. that dotted line excludes all those temp census workers

[brp987]

Originally Posted by extanker

tell pete schiff the US issues the credit cards and uses them...no one can afford not to accept them...still dont believe...well then the president can make one phone call to the mint ....print mees sum of dat green stuf hommie

Printing the green stuff - easy. Printing value to go along with it? Haven't figured that one out yet. The dollar is down, and commodities are up, lately. More than enough to wipe out recent stock market gains. The "whiff of inflation" mentioned earlier is poised to be a gale wind in the coming months.

[extanker]

the new powers to be promised to get rid of the obama care asap....now the fng,s are claiming not until 2013......boy are they fast liars oooppps learners

[Brucelee]

Originally Posted by extanker

the new powers to be promised to get rid of the obama care asap....now the fng,s are claiming not until 2013......boy are they fast liars oooppps learners

They don't have the votes in the Senate. However, they can stop funding different pieces of it from the House side.

Lets see how they do this. I do believe they will bring it to a vote in the House, if only for symbolic reasons. It would be good to have a bill come out of the House that the Senate refuses to pass. Keep shoving it in the Dems face.

[extanker]

symbolic reasons....what a way to run a railroad.

[Brucelee]

Originally Posted by extanker

symbolic reasons....what a way to run a railroad.

I don;t think the House gets to rewrite the Constitution. The rules require two or three to tango.

That is the way it is!

[tonycarreon]

Originally Posted by Brucelee

I don;t think the House gets to rewrite the Constitution. The rules require two or three to tango.

That is the way it is!

Technically, the Constitution can not be re-written, only modified. To do so would require a vote in the affirmative by 2/3 of each house, then 3/4 of the States OR 2/3 of the State's Legislative bodies have to request a Constitutional Convention and 3/4 of the States then have to approve. Therefore, it always takes three to tango - the House, the Senate and the States.

Interestingly, especially given the constant "Obama is rewriting the Constitution" rhetoric, the President has no role in amending the Constitution.