LGP Political Discussion Thread - Latest news at top

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Re: LGP Political Discussion Thread - Latest news at top

Postby columbia on Tue Jul 16, 2013 8:59 pm

Five years after the Wall Street meltdown, the agency that protects consumers finally has a confirmed chief.
http://money.cnn.com/2013/07/16/news/ec ... u-cordray/

So the agency will be up and running AND Elizabeth Warren probably has a semi-permanent Senate seat in MA.

Good job, GOP! :lol:
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Re: LGP Political Discussion Thread - Latest news at top

Postby Grunthy on Tue Jul 16, 2013 9:10 pm

Oh good another agency that adds no value and does absolutely nothing!
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Re: LGP Political Discussion Thread - Latest news at top

Postby columbia on Tue Jul 16, 2013 10:10 pm

You know that you're in bad shape, when Alex Jones can be used to expose you:

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Re: LGP Political Discussion Thread - Latest news at top

Postby Factorial on Tue Jul 16, 2013 11:01 pm

Grunthy wrote:Oh good another agency that adds no value and does absolutely nothing!



I'm all ears. Please explain.
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Re: LGP Political Discussion Thread - Latest news at top

Postby Grunthy on Tue Jul 16, 2013 11:29 pm

Factorial wrote:
Grunthy wrote:Oh good another agency that adds no value and does absolutely nothing!



I'm all ears. Please explain.



Really? You need an explanation why it is a bad idea for the government to get highly involved in anything... I mean I can cite basically everything the government has ruined by intervening, but I would be here for the rest of my life.
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Re: LGP Political Discussion Thread - Latest news at top

Postby Gaucho on Wed Jul 17, 2013 8:00 am

Teju Cole ‏@tejucole 51m
Mandela Day tomorrow. Sad to think the old man is perhaps being kept alive—and possibly suffering—just for this.
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Re: LGP Political Discussion Thread - Latest news at top

Postby shafnutz05 on Wed Jul 17, 2013 8:01 am

Gaucho wrote:Teju Cole ‏@tejucole 51m
Mandela Day tomorrow. Sad to think the old man is perhaps being kept alive—and possibly suffering—just for this.


Agreed. Let the man die for crying out loud.
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Re: LGP Political Discussion Thread - Latest news at top

Postby eddysnake on Wed Jul 17, 2013 9:10 am

Image
this can't go over well...
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Re: LGP Political Discussion Thread - Latest news at top

Postby columbia on Wed Jul 17, 2013 9:11 am

It's certainly sensational.
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Re: LGP Political Discussion Thread - Latest news at top

Postby columbia on Wed Jul 17, 2013 9:43 am

In what appears to have been a gesture of goodwill gone haywire, McDonald's recently teamed up with Visa to create a financial planning site for its low-pay workforce. Unfortunately, whoever wrote the thing seems to have been literally incapable of imagining of how a fast food employee could survive on a minimum wage income. As ThinkProgress and other outlets have reported, the site includes a sample budget that, among other laughable assumptions, presumes that workers will have a second job.

As Jim Cook at Irregular Times notes, the $1,105 figure up top is roughly what the average McDonald's cashier earning $7.72 an hour would take home each month after payroll taxes, if they worked 40 hours a week. So this budget applies to someone just about working two full-time jobs at normal fast-food pay. (The federal minimum wage is just $7.25 an hour, by the way).

A few of the other ridiculous conceits here: This hypothetical worker doesn't pay a heating bill. I guess some utilities are included in their $600 a month rent? (At the end of 2012, average rent in the U.S. was $1,048). Gas and groceries are bundled into $27 a day spending money. And this individual apparently has access to $20 a month healthcare. McDonald's, for its part, charges employees $12.58 a week for the company's most basic health plan. Well, that's if they've been with the company for a year. Otherwise, it's $14.


http://finance.yahoo.com/news/mcdonalds ... 00487.html
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Re: LGP Political Discussion Thread - Latest news at top

Postby Troy Loney on Wed Jul 17, 2013 9:46 am

You can't be self sufficient while being a cashier at mcdonalds? Imagine that.
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Re: LGP Political Discussion Thread - Latest news at top

Postby Factorial on Wed Jul 17, 2013 10:06 am

Liz Cheney running for the Senate in WY.

http://landing.cheneyforwyoming.com/?cd ... d50ea69417
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Re: LGP Political Discussion Thread - Latest news at top

Postby shafnutz05 on Wed Jul 17, 2013 10:08 am

A long, long time ago, Rolling Stone lost it's credibility and became a running caricature of itself.
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Re: LGP Political Discussion Thread - Latest news at top

Postby pensfan1989 on Wed Jul 17, 2013 10:21 am

I don't think the cover is a huge deal. I recall Saddam and Osama being on Newsweek and Time a few times.
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Re: LGP Political Discussion Thread - Latest news at top

Postby Factorial on Wed Jul 17, 2013 10:22 am

Troy Loney wrote:You can't be self sufficient while being a cashier at mcdonalds? Imagine that.



Image
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Re: LGP Political Discussion Thread - Latest news at top

Postby eddysnake on Wed Jul 17, 2013 10:36 am

pensfan1989 wrote:I don't think the cover is a huge deal. I recall Saddam and Osama being on Newsweek and Time a few times.


I'd say a bit of a difference between the "rock" magazine and newseek and time. A lot of people will say, well they had Charles Manson on RS, but that wasn't the same as this.
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Re: LGP Political Discussion Thread - Latest news at top

Postby PensFanInDC on Wed Jul 17, 2013 10:46 am

They're glamorizing a murderer. They glamorized a murdered when they put Manson on the cover. It may not be new, but it's still wrong IMO.
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Re: LGP Political Discussion Thread - Latest news at top

Postby shafnutz05 on Wed Jul 17, 2013 11:26 am

PIMCO ‏@PIMCO
Gross: #Bernanke from Mars: “Wall Street hasn’t benefited more than Main Street.”
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Re: LGP Political Discussion Thread - Latest news at top

Postby columbia on Wed Jul 17, 2013 11:52 am

Ok.

Some more coverage:
http://www.marketwatch.com/story/bernan ... 2013-07-17

The Fed intends to keep short-term rates close to zero “at least as long” as the unemployment rate remains above 6.5%. And this was a threshold and not a trigger, he said.

“For example, if a substantial part of the reductions in measures of unemployment were judged to reflect cyclical declines in labor force participation rather than gains in employment, the Fed would be unlikely to view a decline in unemployment to 6.5% as a sufficient reason to raise its target for the federal funds rate,” Bernanke said.

He said that as long as the economy remains short of “maximum employment” and inflation remains tame, increases in the federal funds rate, once they begin, “are likely to be gradual.”
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Re: LGP Political Discussion Thread - Latest news at top

Postby tifosi77 on Wed Jul 17, 2013 12:55 pm

shafnutz05 wrote:
PIMCO ‏@PIMCO
Gross: #Bernanke from Mars: “Wall Street hasn’t benefited more than Main Street.”

I don't think 'Main Street' means what he thinks it means.
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Re: LGP Political Discussion Thread - Latest news at top

Postby Pucks_and_Pols on Wed Jul 17, 2013 12:58 pm

Lindsey Graham calling for boycott of Sochi winter olympics over Russia not turning over Snowden back to the US.
Last edited by Pucks_and_Pols on Wed Jul 17, 2013 1:03 pm, edited 1 time in total.
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Re: LGP Political Discussion Thread - Latest news at top

Postby columbia on Wed Jul 17, 2013 12:59 pm

:face:
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Re: LGP Political Discussion Thread - Latest news at top

Postby columbia on Wed Jul 17, 2013 1:02 pm

It was interesting to watch Rep. Denny Heck engage in a pretty high level conversation with Bernanke.....while most of his colleagues had apparently decided that they had better things to do.
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Re: LGP Political Discussion Thread - Latest news at top

Postby GaryRissling on Wed Jul 17, 2013 7:50 pm

As a general defense of RS' credibility, I'd point Michael Hastings' piece on McCrystal as an all too rare example of what the media should actually be doing.
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Re: LGP Political Discussion Thread - Latest news at top

Postby GaryRissling on Wed Jul 17, 2013 8:11 pm

Factorial wrote:
Grunthy wrote:Oh good another agency that adds no value and does absolutely nothing!



I'm all ears. Please explain.


You are right, of course. The FDA works hard to protect the market share of Monsanto and Big Agriculture. The SEC works hard to protect the market share of Goldman Sachs and Big Banks, the EPA works hard to protect the market share of Big Energy and Big Agriculture, etc, etc. If you look at the the heads of nearly all regulatory bodies, they are typically former employees of a company they are now regulating; and many go back to become executives at those companies (or lobbyists for the benefit of those companies) after their public sector time is up.
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