Obama's Jobs Plan - More debt? Effect on Gold price?
OzzyAndy
Posts: 344
At a cost of $447 billion, who's paying for it? Thats well over $1000 per person.
Still thinking of what to put in my signature...
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Excellent (the review, not the plan) Jobs Plan review by Peter Schiff
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Hopefully, the majority of the electorate with the Electoral College in mind, aren't being fooled by these shenanigans.
As the Republican convention nears, and of course it's a ways off yet, and a candidate is chosen...and if it's the right candidate and not some "John McCain"...as well as a solid VP choice such as a Marco Rubio...in which having Rubio on the ticket I believe would result in a checkmate win...then in my opinion it would be a good time then to get out of gold. The upside I think would be very limited at that point compared to the downside possibilities.
Fred, Las Vegas, NV
Of the $477 billion, $240 billion is non-payment of social security (payroll) taxes. This only creates a 1/4 trillion dollar hole in the social security fund. If you were a business owner, would you hire someone just because you didnt pay to pay a 6.2% tax on his wages? Who actually comes up with this BS?
Another $53 billion is the extension of enemployment benefits. That does not create jobs, but does create dependency. Again, at best this $53 billion only helps to save a few jobs.
$105 billion is for infrastructure. We've heard this before. No jobs. Even it did create jobs the number would be miniscule and have no impact on unemployment rates.
$35 billion is too keep teachers from being fired. How about just cutting the salaries of bloated school districts supervisors? Im sure 3 teachers could be hired in every district thus creating 50,000 jobs while nost costing the taxpayer a penny.
What I found most comical was the rear-end kissing from the economists at the large banks who predicted that this plan would add 1.5% to GDP.
Politicans need to be fired--as in immediate termination as the rest of us are subject to. No more 2 or 4 year popularity contests. In Japan corporate leaders commit hari-kari when they screw up. Since we are trying to be like Japan, perhaps this is something our representatives should contemplate.
Knowledge is the enemy of fear
I don't disagree with any of the viewpoints that there has been a lot of possible irreparable damage...but I believe much of the price involved with gold is based on long term perceptions and realities. Yes there is always short term speculation in any commodity, but many out there I think are buying gold and increasing the price as a hedge against a possible "collapse" not only fiscally but in society in general.
If a solid Republican candidate wins and implements sound fiscal policy, that perception about a collape may no longer be there, and the possibility of a collapse may no longer be there. Notice I didn't say "definitely" wouldn't be there to these factors...but in any event we'll see what happens.
<< <i>If a solid Republican candidate wins and implements sound fiscal policy, that perception about a collape may no longer be there, and the possibility of a collapse may no longer be there. Notice I didn't say "definitely" wouldn't be there to these factors...but in any event we'll see what happens. >>
It's the job of congress to implement fiscal policy, everyone else proposes it and does what it takes to have it implemented. The speech you saw was not directed at congress it was directed at you in hopes that you would agree and contact your congressperson. If you don't agree you should make that known as well. The whole speech scheduling debacle was because they wanted you there.
Impact on PMs? All the bad stuff happening is already priced in. Only price drivers now are the usual unexpected "back swan" and increasing demand from the newcomers and the central banks. Dips will occur with passing moments of sunshine on the dollar and with the usual interference from unnatural forces. I'm begining to believe that these attacks on price are only to provide those in the know with a buying opportunity. Notice they don't ever destroy the price, they only weaken it temporarily. Silver was hammered until it got to the price "they" wanted it at. If they wanted $15 silver, we'd have $15 silver. Best to use your knowledge and be buying on the dips because I am convinced that they are.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>If a solid Republican candidate wins and implements sound fiscal policy, that perception about a collape may no longer be there, and the possibility of a collapse may no longer be there. Notice I didn't say "definitely" wouldn't be there to these factors...but in any event we'll see what happens. >>
It's the job of congress to implement fiscal policy, everyone else proposes it and does what it takes to have it implemented. The speech you saw was not directed at congress it was directed at you in hopes that you would agree and contact your congressperson. If you don't agree you should make that known as well.
Impact on PMs? All the bad stuff happening is already priced in. Only price drivers now are the usual unexpected "back swan" and investment demand from the newcomers. Dips will occur with passing moments of sunshine on the dollar and with the usual interference from unnatural forces. >>
Yes, in theory you are right...but in practice it's the president who either leads or doesn't lead in this regard, and depending on the proposed legislation. And of course the president wields veto power, unless there is a strong possibility of a veto overide where it wouldn't matter. I mean if say Rick Perry gets elected and has a super majority in Congress, and asks them to do something, then the chances are very good they are going to do it and it will get done. For example - there is no way that Obamacare would have passed without Obama's insistence it get done...yes Pelosi and Reid did their share and it wouldn't have passed either without their effort, but it was Obama who was the major factor in getting this costly boondoggle piece of legislation made into law.
Yes, I agree about the "priced in" factor, that is of course until a new possibility or rumor starts to fly. The problem right now in the Middle East with Israel could very well affect gold, and my basic viewpoint is that there will be no war between Turkey or Egypt with Israel - it simply won't happen for a multitude of reasons...but the increased perception that it could happen may spike the price of gold.
There is an angst, a quiet hunger for the gold metal out there. Those that have some don't dare sell it because they may never be able to get back in at these prices...for those that have the precious metal, it is precious and they aren't letting go until either they have to or until it is for some great opportunity to exchange the metal for some other tangible asset like that little place in the country or maybe a paid for new car for just 12 oz., or taking a large chunk out of a 30 yr. mortgage and doing a refi at <4%, or not. I suspect that folks are mostly just buying whatmetal they can and holdin' what they got while they wait for their price. The long term metal holders don't scare with every reset, but you can be sure that anyone that is even playing on the periphery has their game face on every day.
Got GOLD?
Edited to keep on topic: My bigest take a way from the speech is that it was called a jobs plan but there really wasn't a plan, it might get released later...everyone was yelling in the afterwash of the media response that we have to "pass this jobs bill now" but there wasn't a bill, just a speech; the bill will likely be a good ways off so how can you pass a bill when you don't have a bill? If and when this BS ever quits then maybe we can make some progress but till then...I'm getting what metal I can and holding what I got...
<< <i>Most people have no concept about job creation. I spent my career in business, mostly manufacturing. Unless there is demand for a product, and it can be manufactured at a cost that allows profit, there will be NO JOBS. No matter the tax breaks (robbing from social security again, hiring people for a tax deduction that is less than ten percent of the cost of an employee) or flowery rhetoric from politicians that have no concept of business, jobs cannot be created without demand for product or service. And then, only then, if return on investment (ROI) can be shown, will jobs be created. Obama has zero understanding of business, and most of the politicians are equally ignorant. To help reduce the cost of manufacturing, get rid of useless, excessive, regulations and controls - imposed by governmental bureaucracies that have no understanding of fiscal impact. Reduce the power of unions who think the financial well is bottomless. These are the type of efforts that could create jobs. Cheers, RickO >>
You are so right...and the sad part is that this is not what the far left wants...they don't want good, strong, healthy private businesses, they want their minions dependent on them the government...and the more minions they can bring on board who vote, the more power the far left politicians have and the longer they can retain it.
Far left politicians have no interest in helping most private businesses. This is a bad situation we are in and this country unfortunately made a huge mistake electing a glib speaking, relatively unknown politician to serve as president...and I do mean a HUGE mistake...which in my viewpoint is a major reason gold has been going up in price.
<< <i>Most people have no concept about job creation. I spent my career in business, mostly manufacturing. Unless there is demand for a product, and it can be manufactured at a cost that allows profit, there will be NO JOBS. No matter the tax breaks (robbing from social security again, hiring people for a tax deduction that is less than ten percent of the cost of an employee) or flowery rhetoric from politicians that have no concept of business, jobs cannot be created without demand for product or service. And then, only then, if return on investment (ROI) can be shown, will jobs be created. Obama has zero understanding of business, and most of the politicians are equally ignorant. To help reduce the cost of manufacturing, get rid of useless, excessive, regulations and controls - imposed by governmental bureaucracies that have no understanding of fiscal impact. Reduce the power of unions who think the financial well is bottomless. These are the type of efforts that could create jobs. Cheers, RickO >>
Right on Ricko.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>We are going to lose this forum with thread titles like this. >>
Thread title changed to reflect what I was actually thinking, wanted others to make that connection.
What I was really wondering was if it would add to the debt burden and therefore increase devaluate the US currency and push up the price of gold.