Comments on: The Threat of Hyper-Depression http://dailyreckoning.com/the-threat-of-hyper-depression/ Covering the economy, global markets and world politics. Sun, 22 Nov 2009 01:29:43 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: KC http://dailyreckoning.com/the-threat-of-hyper-depression/#comment-3383 KC Thu, 26 Mar 2009 02:03:01 +0000 http://dailyreckoning.com/?p=13715#comment-3383 This was effectively done in the Carter administration with the Windfall Profits Tax on oil companies. Thereby creating a 90 percent tax level for industries that were not considered politically correct for the time. This was effectively done in the Carter administration with the Windfall Profits Tax on oil companies. Thereby creating a 90 percent tax level for industries that were not considered politically correct for the time.

]]> By: tony bonn http://dailyreckoning.com/the-threat-of-hyper-depression/#comment-3373 tony bonn Wed, 25 Mar 2009 22:45:58 +0000 http://dailyreckoning.com/?p=13715#comment-3373 yes things will deteriorate just as they did in all other statist centrally planned economies - ussr, china, eastern europe, cuba, uk, zimbabwe, and on and on....america has been a marxist state for over a century so the recent events are not in the least bit surprising nor will be the final outcome of rot, implosion, and 3d worldization.... aig's problems over bonuses are well deserved....it took taxpayer money to become a vassal and property of the government and the government is merely exercising its property rights by expressing dismay and threats over the bonuses....rewarding incompetent management is assinine....who cares if the derelict management leaves? some will argue that the current aig management is not to blame - rather that greenberg is the scoundrel and so he is....but the new management accepted the pact with the devil and it is all down hill from here....who is the fool who thought that the government would not exercise its prerogatives? aig management is the same kind of gutless spineless leadership which the auto executives were who caved into obnoxious and foolish demands year after year from the unions and wonder why they are extinct.... americans should have been rioting in the streets when the supreme court ruled that ex post facto tax legislation is legal....however, a nation more fascinated with dancing with the stars and what kind of underware the president wears than in freedom is past the point of retaining its freedoms...indeed they gave it up when fdr confiscated gold without so much as a wimper.... if folks are only now recognizing that there are no property rights in amerika then i would suggest that they are dumb bunnies....(sorry) as all of this dawns on the "lumpeninvestor" to coin a term :D the current foolish stock market rally will incinerate just as have aig and wall street.... yes things will deteriorate just as they did in all other statist centrally planned economies – ussr, china, eastern europe, cuba, uk, zimbabwe, and on and on….america has been a marxist state for over a century so the recent events are not in the least bit surprising nor will be the final outcome of rot, implosion, and 3d worldization….

aig’s problems over bonuses are well deserved….it took taxpayer money to become a vassal and property of the government and the government is merely exercising its property rights by expressing dismay and threats over the bonuses….rewarding incompetent management is assinine….who cares if the derelict management leaves?

some will argue that the current aig management is not to blame – rather that greenberg is the scoundrel and so he is….but the new management accepted the pact with the devil and it is all down hill from here….who is the fool who thought that the government would not exercise its prerogatives? aig management is the same kind of gutless spineless leadership which the auto executives were who caved into obnoxious and foolish demands year after year from the unions and wonder why they are extinct….

americans should have been rioting in the streets when the supreme court ruled that ex post facto tax legislation is legal….however, a nation more fascinated with dancing with the stars and what kind of underware the president wears than in freedom is past the point of retaining its freedoms…indeed they gave it up when fdr confiscated gold without so much as a wimper….

if folks are only now recognizing that there are no property rights in amerika then i would suggest that they are dumb bunnies….(sorry)

as all of this dawns on the “lumpeninvestor” to coin a term :D the current foolish stock market rally will incinerate just as have aig and wall street….

]]> By: r http://dailyreckoning.com/the-threat-of-hyper-depression/#comment-3366 r Wed, 25 Mar 2009 21:28:52 +0000 http://dailyreckoning.com/?p=13715#comment-3366 Good article Mr. Murphy. But FYI, the U.S. Supreme Ct. (unanimously) held in U.S. v. Carlton (1994) that retroactive tax laws did not violate the constitutional prohibition on ex post facto legislation, provided their retroactive application was "supported by a legitimate legislative purpose furthered by rational means." So, there you go. Good article Mr. Murphy. But FYI, the U.S. Supreme Ct. (unanimously) held in U.S. v. Carlton (1994) that retroactive tax laws did not violate the constitutional prohibition on ex post facto legislation, provided their retroactive application was “supported by a legitimate legislative purpose furthered by rational means.” So, there you go.

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