Romney, Obama: Both Frauds
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-10-03 23:08
by Karl Denninger
in Politics
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Romney, Obama: Both Frauds
 

Medicare, Medicaid -- ha!  Both of these clowncar folks cannot tell the truth.

Here is truth.  The Federal Government spent $53 billion on health care in 1980.

Last year it spent $850 billion.

That's an approximately 9.3% annualized rate of increase.

That means government spending on health care (Medicare and Medicaid) doubles ever ~7.7 years.

If you are now 50, and not going to "lose anything" from current plans, you believe the Federal Government can spend close to $14 trillion 30 years from now when you're 80.

Note that the entire GDP of the country is $16 trillion.

Romney supports "no change" for current and near retirees.  This plan says that we will spend that $16 trillion annually. 

The moderator is braindead in that he has not asked Mittens how he's going to make that happen.

The simple fact of the matter is that the promise he's making cannot be kept. 

Period.

But.... Obama can't keep his promise either, as $700 billion (over 10 years) is a trivial amount of money compared to the fiscal hole this program represents.

Neither candidate has said one word about breaking the monopoly practices the medical industry uses, all of which exist only because of government protections and laws.

You can't "work with" people to set up concepts such as "exchanges"; you instead must get rid of laws that allow pharmaceutical firms to force you to pay 10x (or even 100x or more!) as much for a drug in the United States as you would in the country of its origin -- such as the story I recently covered on a woman who went through this with scorpion anti-venom and saw $200 worth of anti-venom turn into an $80,000 bill, including most of it for the anti-venom itself.

Neither of these clowns is talking sense when it comes to education either.  Obama wants to hire 100,000 more teachers.  Can we first have teachers who insure that each student understands the exponential function and why what these two clowns are claiming they're going to do are abject and outrageous frauds?

I'll listen to people talking about more teachers or spending more money on public schools when and if that happens and not one instant before.

Then we get into the 10th Amendment.  Education comes up.  What did Mittens say?  The federal government has a role.  This, after he says that the Constitution is the law of the land?  Where do you find any authorization for any federal involvement in education within the four corners of the Constitution?

Obama of course believes that the Government is education!  After all, it's most-important that our SEC employees know how to view porn on the job, our TSA employees must know how to steal electronics and our Secret Service employees must know how to get blasted while on assignment and then hire hookers.  Teaching those things is most-important.

Note carefully, however, that neither candidate has said word #1 about "too much money chasing college educations" through federal loan programs, which is why our kids are getting raped raw as prices go up 10% or more a year!  Obama's "answer" is to have the Federal Government do it (and drive it up even faster!) while Mittens has said exactly nothing about putting a stop to this crap.  There should be no secured student lending at all -- if you are not a good enough risk for a lender to let you have the money given the risk you will not pay them back then you shouldn't get it!

Am I impressed with this evening?  Not a bit.  I don't think either of these guys did a credible job this evening on the facts, in that they were both lying through their damned teeth.  Both candidates get an F- on facts and putting forward any sort of credible plan to solve anything.

And the moderator gets an F double minus for not calling either of these guys on the obvious failure of simple arithmetic they both displayed -- not that the candidates did any better in that they didn't call one another on it either!

But Mitt Romney wiped the floor in terms of presentation.  He lied through his damn teeth, but he lied convincingly.  Obama, on the other hand, looked like a deer in the headlights on multiple occasions and simply didn't have his act together.  As I tweeted during the debate toward the end "As for Obama?  Use a can opener on his head and insert a working brain."

It was that bad.

Mitt Romney came with his "A" game and Obama came with a cavity in his cranium.  The guy running campaign ads about Romney trying to eat Granny and screw little children was absent tonight, and as a result Obama got run over by a truck.  It is what it is, and as a result I expect the race to tighten significantly, at least for the next couple of days.

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User Info Romney, Obama: Both Frauds in forum [Market-Ticker]
Yazooflesh
Posts: 5051
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Both Frauds...No Doubt.

As far as picking a winner?...Obama.

Romney should have pounced on Obama. He didn't.

Romney still wants to be perceived as a nice Mormon guy...

Obama wants to be perceived as the savior of the world...
Mikek31
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Good Ticker, Karl, on an otherwise unTicker-worthy debate.

PS, did you check out Videopro's post concerning retirement age? Found that interesting...

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Intentional manipulation of markets is usually thought of as a crime, not a benefit, and should lead to indictments, not praise. -Karl
Poer
Posts: 1396
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Right on Karl!

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"The degree to which a man substitutes the judgment of others for his own, failing to look at reality directly, is the degree to which his mental processes are alienated from reality." Nathaniel Branden in Ayn Rands 'Capitalism The Unknown Ideal'
Fletchjr
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No, Gen is right. Romney was not great but Obama was pretty bad. A clear win for Romney who has successfully run to the middle. He didn't sound much like he did in trying to win the nomination. There's still a lot of time but him to screw things up again but he helped himself tonight.
Debtpie
Posts: 534
Incept: 2009-12-17

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Quote:
Mitt Romney came with his "A" game and Obama came with a cavity in his cranium.


"A" Game? All he did was rerun all his TV ads..."I'm gonna give everybody everything, no changes to anything and any changes that are made I'll let the states do it. And if you want details as to how I'm gonna do all that...elect me and I'll show you".

Obama looked tired and (In typical Obama fashion) didn't fight back. Romney handed Obama the gun multiple times and Obama shot it off into the sky...

Quote:
The moderator is braindead


Now there's something we agree on...what an old tired fool..Romney would not shut up...on and on with everything we've already heard...and when he finally did shut up there was no "How about some details" from the moderator or Obama.

Thanks God I was busy with more important tasks and just had this on in the background...or I'd feel really bad for the time wasted watching it.

Quote:
A clear win for Romney who has successfully run to the middle.


The middle?

> $2.1 Trillion more in military spending?

> Voucher care for the "young".

> The answer to every problem is to dump it on the states?

> Cutting taxes will create jobs? (true only to a point; see Laffer Curve)

That's the middle? Wholly ****, that's pretty far right to me.

The bottom line is the people watching have already made up their mind; tonight didn't change anyone's mind either way.

Neither candidate offered up anything we haven't heard before; same vague promises, same accusations, same old same ole..



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A Leader, or an Opportunist? "A leader has the capacity of vision, the ability to see where things are headed before people in general see those things." Mitt Romney --- DebtPie's definition: a leader decides where "things" should head and "leads" us there.

Yazooflesh
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Romney needs to get down and dirty...literally.

Otherwise, he is history.

There is no way the Romney camp is not aware of this.

Frat
Posts: 1939
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I don't know how any of you stomached that **** - I refuse to watch that drivel (I know, it's how people "meet" the candidates - **** that!).

Meh, I'm still withdrawing consent and not voting. I'm purposely saying "**** NO, YOU DON'T HAVE MY CONSENT TO GOVERN" versus voting and legitimizing that abortion.

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We're ****ed. Where's Henry Bowman when you need him?
Genesis
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It's easy to kick a man in the balls that just stands there and doesn't defend himself.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Crzymorse
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Romney = Dog
Obama = Fire Hydrant

Redwolf
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Quote:
No, Gen is right. Romney was not great but Obama was pretty bad. A clear win for Romney who has successfully run to the middle. He didn't sound much like he did in trying to win the nomination. There's still a lot of time but him to screw things up again but he helped himself tonight.


Voxday has a theory that Obama really doesn't care about being president again, he's just going through the motions for his wife.
Mdm
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South Florida
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As a bright spot, the local news interviewed some people in a bar who watched the debate and they all saw through the BS and were disappointed by the lack of specifics in both candidates' plans. None were enthusiastic about either candidate. It appears that more and more people are starting to wake up. Time will tell if it is too little too late as this election is already a lost cause.
Otiswild
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Must moderators be Americans? I'm thinking the best choice would be Jeremy Paxman, if he could be convinced to do it..

Irishsamurai
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Obama's Jockstrap wrote..


Obama looked tired and (In typical Obama fashion) didn't fight back. Romney handed Obama the gun multiple times and Obama shot it off into the sky...




https://twitter.com/billmaher/statuses/2....


Bill Maher wrote..


i can't believe i'm saying this, but Obama looks like he DOES need a teleprompter



Keep chooming, sock.

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“Why is it the ship beats the waves when the waves are so many and the ship is one? The reason is that the ship has a purpose.” - Churchill
Genesis
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I'd do it but they'd NEVER have me. I would have ass****ed them both on stage.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Sean
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For the next few days ... So Karl, what about a week from now when the sheeple have totally forgotten about earlier this evening?

BTW, when is the next debate? O will be on the top of his game then - no doubt about that!

Go O! /sarc off


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* I think Ann Barnhardt is more and more right. God help us!
* Progressives / Marxists / Communists are many things, STUPID and IMPATIENT are not two of them.
* A hot civil war is coming.
* And people wonder why I prep!

Debtpie
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Quote:
Must moderators be Americans? I'm thinking the best choice would be Jeremy Paxman, if he could be convinced to do it..


Must we have Moderators?

How about the two sides sit down at a table and hash it out. No moderators, no dumb questions from Twitter, no softballs...just two people that want to be President hashing it out with each other.

An Intellectual Boxing match! That would be fun to watch and really show us who these candidates are and how full of **** or promise they be...

I'm tired of these dumbass moderators.

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A Leader, or an Opportunist? "A leader has the capacity of vision, the ability to see where things are headed before people in general see those things." Mitt Romney --- DebtPie's definition: a leader decides where "things" should head and "leads" us there.
Poer
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The meeting between them on stage at the end was more telling than debate itself...they both looked equally happy.... as they should be for guys who know they both work for same employer.... not the USA and its people but for bankkers who enslave the same

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"The degree to which a man substitutes the judgment of others for his own, failing to look at reality directly, is the degree to which his mental processes are alienated from reality." Nathaniel Branden in Ayn Rands 'Capitalism The Unknown Ideal'
Irishsamurai
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Quote:


It's easy to kick a man in the balls that just stands there and doesn't defend himself.



That's really the takeaway here ... both of these guys are liars and frauds, but one of the people on stage got his first "real" job as the POTUS and he doesn't like it ...

Romney likes to believe he can fix stuff ... but on the points at hand, he's just full of it. There is no way to fix Medicare, Medicaid, or SS without significant cuts in future benefits ... probably close to 50%.

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“Why is it the ship beats the waves when the waves are so many and the ship is one? The reason is that the ship has a purpose.” - Churchill
Crzymorse
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Did Obama check his watch.
Crzymorse
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OT- Would anybody here bang Rachel Maddow given the chance?
Irishsamurai
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Quote:


OT- Would anybody here bang Rachel Maddow given the chance?



Pre-box muncher look? Sure ...

inline

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“Why is it the ship beats the waves when the waves are so many and the ship is one? The reason is that the ship has a purpose.” - Churchill
Tsx500
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here's a little somethin' for ya to chew on for a sec .... what if the reason that Barry didn't perform well at all is because he KNOWS HE DOESN'T NEED TO CUZ THE FIX IS IN BABY - IT'S A DONE DEAL ALREADY
Mortgageguymn
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That's the worst metamorphosis since Chastity > Chas Bono.
Mortgageguymn
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Listened to the debate on radio. Most of it anyways. It sounded fairly even to me. Apparently one needed to have seen it to get the full effect of Obama getting bitch-slapped.
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