Crazy Idea: The Market Crashed Because the Traders Bet on That

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Tuesday August 09, 2011 · 7:57 AM PDT

2011/08/09 · 07:57

My uncle is a day trader. Retired from the police force, he spends his mornings in his Florida dream home (something he bought after becoming a successful day trader) and bets on the market. He does very well for himself. Speaking with him several weeks ago, while the debt ceiling "negotiations" were in full tilt, he let me know that it didn't matter if the country defaulted because he was "shorting the whole thing." I'm sure many of you already realized this, but it dawned on me: the stock market HAD TO CRASH even if a debt agreement was reached. There were too many people betting on that to happen.

Poll

40 votes Show Results

Would it help to regulate the market to prevent shorting?

40 votes Vote Now!

Would it help to regulate the market to prevent shorting?

yes

24 votes

5 votes

don't know

1 vote

ask Barney Frank

6 votes

pie

2 votes

Poll: Do you support a massive government jobs program?

mateohussein

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Thursday July 21, 2011 · 7:24 AM PDT

2011/07/21 · 07:24

I have read dozens of polls recently regarding the current state of the economy and the "debt crisis." I know you have too. The questions are about what you think about Obama's handling of the "debt crisis," who is to blame for the current crisis, whether you support Obama's idea for a $4 trillion debt reduction plan or the smaller plan offered by Republicans, whether you support a "balanced approach" of both cuts and revenues or "all cuts," etc., etc. Of course, when asked, Obama and press secretary Carney insist Obama's top priority is "jobs creation."

Well, why am I not reading polls about job creation? Even on Daily Kos I don't see them.

Poll

154 votes Show Results

What do you think is the best way to create jobs in the US right now?

154 votes Vote Now!

What do you think is the best way to create jobs in the US right now?

Massive governmental jobs program and raise taxes on the rich

136 votes

Cut the deficit

2 votes

Lower taxes

2 votes

Ignore the debt ceiling and let the US default on its obligations

2 votes

Obama's "balanced" approach

4 votes

Republicans' "Cut, Cap & Balance"

5 votes

McConnell's plan to give authority on raising debt ceiling to Obama

0 votes

Call your Reps now!

mateohussein

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Monday July 18, 2011 · 3:24 PM PDT

2011/07/18 · 15:24

Look, there's no two ways about it, it's time to raise the debt ceiling. That Congress is still debating this thing at this late hour and do not appear to be coalescing around a plan is astonishing. Unfortunately, it appears that there are Republican reps that actually seem to believe that we do NOT have to raise the debt ceiling and all of our problems will magically go away--or the "alternative" of spending more is worse. They obviously believe that Obama will be blamed for causing another Great Depression. They need to hear from us. NOW.

Poll

17 votes Show Results

Do you support an up-or-down debt ceiling vote?

17 votes Vote Now!

Do you support an up-or-down debt ceiling vote?

Yes

13 votes

2 votes

Wisconsin demonstrators show resolve

mateohussein

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Monday February 21, 2011 · 9:06 AM PST

2011/02/21 · 09:06

I spent a good part of the past few days in and around the state capitol here in Madison. The energy, as many diaries have suggested, is strong. But it needs to continue. Thank you to everyone in and out of Wisconsin for many words and actions of support. The Democratic Senators of WI are still across the state border (the WI form of filibuster) and appear committed to staying that way until Gov. Walker will negotiate. At this time, Gov. Walker has not returned their phone calls. What happens in and around the state capitol is of crucial importance to show our support for the Democratic Senators, as they are and will be even more so, under attack. Thank you for your support!!

Poll

11 votes Show Results

Is Taxing the Rich "Redistribution of Wealth" or merely asking the rich to pay their fair share?

11 votes Vote Now!

Is Taxing the Rich "Redistribution of Wealth" or merely asking the rich to pay their fair share?

Yes

5 votes

4 votes

Tax cuts are only stimulus game in town

mateohussein

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Tuesday December 07, 2010 · 7:14 AM PST

2010/12/07 · 07:14

I agree with Schumer, Sanders, and all of the progressives who argue that extending the Bush tax cuts for the rich is a mistake. It is a mistake because the rich don't need it, their income and wealth has skyrocketed over the past ten years while everyone else's has tanked. It is a mistake because Republicans (and some Democrats) will insist on "savage" cuts in social spending, in the words of Paul Krugman, all in the name of cutting the deficit. It is a mistake because there are better ways to stimulate the economy--such as unemployment insurance, money for infrastructure, even direct government hiring. And it is a mistake because it is unpopular, according to recent polls. HOWEVER, Obama and many other Democrats who will be up for re-election in 2012 also realize a basic political fact: there will be NO OTHER ECONOMIC STIMULUS PASSED BY CONGRESS IN THE NEXT CONGRESS. This is it. The analysis is that the reason Republicans gained more than 60 seats in Congress this year is because the economy is in the tank.

Poll

36 votes Show Results

What's more important, Obama's reelection, or preventing tax cuts for the rich?

36 votes Vote Now!

What's more important, Obama's reelection, or preventing tax cuts for the rich?

Obama's reelection

9 votes

Preventing tax cuts for the rich

17 votes

Pie

6 votes

Rebrand Republicans the "Wet Blanket Party" [with poll]

mateohussein

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Friday January 29, 2010 · 5:49 AM PST

2010/01/29 · 05:49

I was energized by Obama's State of the Union.
-He successfully defended the TARP and Stimulus bills that were passed last year.
-He clearly articulated where the country was at the beginning of his term and why we are in the morass that we are in now. And he pointed fingers in the right direction.
-He said the Supreme Court's recent decision on "Citizens United" was a major mistake and action needs to be done to correct it.
-He chided the Republicans for not applauding his many tax cuts.
-And he called out the conservadems in the Senate for "running for the hills."

However, as the election approaches, Democratic candidates need to be even clearer and sharper than this about which people are the problem and who are the problem-solvers. Specifically, they need to say clearly what the Republican Party--their political opponents--have and have not done in the last decade. It is time to rename the party the "Wet Blanket Party" and repeat that refrain again and again for the rest of the year.

Poll

21 votes Show Results

When is the worst time to be carrying around a wet blanket?

21 votes Vote Now!

When is the worst time to be carrying around a wet blanket?

Now

6 votes

When the unemployment rate is ten percent

1 vote

When we are fighting two wars

0 votes

When millions of people don't have health insurance and those that do aren't covered

3 votes

When you're drowning

5 votes

I like wet blankets

3 votes

pie

1 vote

Obama is Dead Wrong on Education (with poll)

mateohussein

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Friday July 24, 2009 · 6:47 AM PDT

2009/07/24 · 06:47

The Washington Post today published a story entitled "Obama to Schools: Change or Miss Out on Cash"
http://www.msnbc.msn.com/...

In it, the authors explain that Obama will be dangling $4.35 billion in funding for states only if they "ease limits on charter schools, tie teacher pay to student achievement and move for the first time toward common academic standards."

As a former public school teacher, National Board Certified Teacher, union representative, and a current PhD student in Curriculum and Instruction, I can tell you that Obama is dead wrong on all three of these issues and these policies will lead to greater drop out rates, greater segregation, greater narrowing of the curriculum to test-prep, less money and attention given to the arts/physical education/computer literacy and time for imaginative play such as recess, will lead to a more watered-down non-critical curriculum devoid of passion, and to even higher rates of teacher attrition (currently 50% of teachers stay in teaching for less than 5 years).

Poll

106 votes Show Results

Do you think the federal government should be telling local communities what they should teach and tying huge sums of money to high stakes standardized testing?

106 votes Vote Now!

Do you think the federal government should be telling local communities what they should teach and tying huge sums of money to high stakes standardized testing?

Yes, teachers are lazy and they should be held accountable.

22 votes

Yes, otherwise teachers and schools would be teaching creationism (even though that's unconsitutional)

10 votes

No, one size fits few. One national curriculum tied to test scores would lead to increased rates of teacher turnover and students dropping-out

72 votes

It's Not Redistribution!

mateohussein

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Thursday October 23, 2008 · 6:19 AM PDT

2008/10/23 · 06:19

Obama promises a tax cut for anyone who makes less than $200,000, and will not raise the taxes of those who make under $250,000. For those making more than that, about 5% of the population, a tax raise. The McCain campaign has predictably called this "raising taxes," and in an economic downturn, they claim, this could lead to disaster! The criticisms of Obama on this issue have become one of the main tenets of the McCain campaign. In the debate, McCain threatened that this policy would encourage (rich) people to move abroad, or at least their assets abroad. On the campaign trail, he has called Obama a socialist, and has harped on Obama's words to "Joe the Plumber" about "redistributing" his "wealth." I believe Obama has not responded effectively to this attack. Follow me...

Poll

40 votes Show Results

Should Obama Clarify How the Rich Benefit from Taxes and Why the Possibility That The Rich Move Abroad to a Country With Lower Tax Rates is Not a Real Threat?

40 votes Vote Now!

Should Obama Clarify How the Rich Benefit from Taxes and Why the Possibility That The Rich Move Abroad to a Country With Lower Tax Rates is Not a Real Threat?

No, the American public is too stupid to understand such a complicated argument

10 votes

No, the McCain campaign would have a field day with Obama's attempt to say the rich benefit from paying taxes

3 votes

No, nobody cares about the richest 5% or their "wannabe" sympathizers. Let people be confused and misled, it's a small segment of the population who cares about this issue, so fuck 'em

3 votes

No, I disagree with your argument here. It is redistribution, and the poor and middle class actually are the only ones who benefit from higher tax rates for the rich

4 votes

Yes, this is an important issue and people need to understand it. Obama is good a "boiling it down" for people, without being too simplistic. He should make the argument.

16 votes

Have you received this email from a conservative?

mateohussein

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Thursday September 18, 2008 · 6:37 AM PDT

2008/09/18 · 06:37

Dear Kossaks,

This is my first diary entry, so please be kind. As you know, lies and misinformation are constantly spread on email chains, including lies about Obama being Muslim, or not being patriotic because he didn't wear a flag pin once, etc. I have conservative family members, so I receive a fair share of them. Most of them are clearly flat out lies, and are debunked elsewhere. However, I received one email last week from my brother, who actually loves Bill Clinton, but told me he'll be voting for McCain this election cycle. The issue at the top of his mind is taxes, and his feeling is that the rich should not be "soaked" to pay for Obama's various promises. This email seems to sum up his thoughts on the issue.

Follow me past the jump to read the email:

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