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Obama And Romney Avoided During The Debate

http://theeconomiccollapseblog.com/w...ly-250x149.jpgDid you watch the presidential debate on Wednesday night? It is absolutely amazing how they can have an hour and a half debate about the economy and say so little. It seemed like both candidates were falling all over each other wanting to talk about how much they value education, but will more education really solve our problems? After all, 53 percent of all Americans with a bachelor's degree under the age of 25 were either unemployed or underemployed in 2011. So perhaps they should just both agree that education is a good thing and start talking about how to create more jobs for all of us. If you want to grade the debate from a technical standpoint, clearly Romney was the winner of the debate. Romney was full of energy and was generally sharp with his answers. Obama looked like he had just popped a couple of antidepressants and was ready for nap time. As a result, this might have been the worst blowout in the history of presidential debates. A CNN/ORC International poll that was taken right after the debate found that 67 percent of all Americans that had watched the debate thought that Romney was the winner. Never before had any presidential candidate crossed the 60 percent mark in the history of their post-debate polling. So Romney definitely had a big night. But the reality is that both candidates were telling the American people what they want to hear. If either Obama or Romney told the truth about what we are facing they would lose votes, and in a race this tight both of them really want to avoid doing that. Obama and Romney both desperately want to win this election, and the words that are coming out of their mouths have been carefully crafted to appeal to the "undecided voters" in the swing states. If you actually believe that they can deliver on everything that they are promising, then you must not have been paying much attention to U.S. politics over the past several decades.

Perhaps the biggest failure on Wednesday night was debate moderator Jim Lehrer of PBS. His questions were about as far from "hard hitting" as you could get.

The hour and a half debate was almost entirely about the economy, and yet almost all of the critical economic issues were ignored.

Yes, Obama and Romney have slight differences when it comes to tax rates and regulations, but those small differences are not going to do much to change the direction of this country one way or another.

Meanwhile, there were some really huge issues about the economy that were not addressed at all last night....

1 - In an hour and a half debate about the economy, the Federal Reserve was not mentioned a single time.

2 - In an hour and a half debate about the economy, Ben Bernanke was not mentioned a single time.

3 - In an hour and a half debate about the economy, quantitative easing was not mentioned a single time.

4 - In an hour and a half debate about the economy, the term "derivatives" was not used a single time. Considering the fact that derivatives could bring down our financial system at any moment, this is an issue that should be talked about.

5 - In an hour and a half debate about the economy, there was no mention of the millions of jobs that have been shipped out of the country. Considering the fact that both Obama and Romney have played a role in this, it is probably a topic they both want to avoid. Overall, the United States has lost more than 56,000 manufacturing facilities since 2001.

6 - In an hour and a half debate about the economy, neither candidate mentioned that the velocity of money has plunged to a post-World War II low.

7 - In an hour and a half debate about the economy, the fact that the rest of the world is beginning to reject the U.S. dollar as a reserve currency was not mentioned a single time, but this has enormous implications for our economy in the years ahead.

8 - The fact that the Social Security system is headed for massive trouble was only briefly touched on during the debate. At the moment, there are approximately 56 million Americans that are collecting Social Security benefits. By 2035, that number is projected to grow to an astounding 91 million. Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years. When are our politicians going to honestly address this massive problem?

9 - In an hour and a half debate about the economy, the nightmarish drought the country is experiencing right now was not mentioned a single time.

10 - In an hour and a half debate about the economy, the financial meltdown in Europe was basically totally ignored. But considering the fact that Europe has a larger economy and a much larger banking system than we do, perhaps someone should have asked Obama and Romney what they plan to do when the financial system of Europe implodes.

11 - In an hour and a half debate about the economy, the student loan debt bubble was only briefly mentioned.

12 - In an hour and a half debate about the economy, there was not a single word about the fact that the gap between the wealthy and the poor is now larger than it has been at any point since the Great Depression.

13 - In an hour and a half debate about the economy, there was no mention of TARP (which they both supported at the time). Would they both bail out the big banks if another financial crisis erupted?

14 - In an hour and a half debate about the economy, there was no mention of the economic stimulus packages (which they both supported at the time). Would they both want more "economic stimulus" if we entered another recession?

15 - In an hour and a half debate about the economy, neither candidate talked about the fact that most of the jobs our economy is producing now are low income jobs. In fact, since the end of the last recession, 58 percent of the jobs that have been created are low paying jobs.

16 - In an hour and a half debate about the economy, neither candidate mentioned that more than 100 million Americans are enrolled in at least one welfare program run by the federal government or that more than half of all Americans are now at least partially financially dependent on the government. I can't blame Romney for avoiding this point though - he probably wanted to avoid the phrase "47 percent" at all costs.

Is this really the best that America can do?

Tens of millions of Americans tuned in hoping to become more informed about the candidates, and instead what they got was an hour and a half of tap dancing as Obama and Romney constantly tossed out buzzwords such as "education", "energy independent" and "middle class".

I honestly don't know how you can possibly have a debate about the economy without talking about the Federal Reserve, quantitative easing, the trade deficit, Europe or the decline of the U.S. dollar.

But it just happened right in front of our eyes.

I don't think that I can ever remember another presidential debate that lacked substance as much as this one did.

So what did you all think about the debate? Please feel free to post a comment with your thoughts below....

http://theeconomiccollapseblog.com/a...ing-the-debate

CurrencyMan:

I want everyone to understand the IMPORTANCE of what you just read. The fact that it is not in my own words is good since I am not qualified to write with such skills. I have no formal education. I never finished High School.

With that as background here are my own words for those that want to see things as they really are.

Most of us on this excellent thread understand many issues better than most people out there. In fact if you conclude that we understand it better or as well as Obama and Romney then you will conclude wrong.

That is the PROBLEM itself.

The SYSTEM is so broken and corrupted that all 16 points were not even discussed.

HAS THAT SUNK IN AS YET ?

How is that possible ?

Think Outside The Box and you will see reality and change your mindset and perhaps prosper.

This is just History repeating itself starting with the Roman Empire.

I hope this post was useful to some that have an open mind.

I will be ready to change my views if someone can show me why I should.

Gold is the KEY !!!

History is my proof.

Are you a sheep or a wolf ?

I am a WOLF and I NEVER NEVER NEVER let go...

Love and Peace and when I reach Heaven there will be one hundred virgins waiting for me.

What ? Virgins !!! What does that have to do with trading forex ? Ask some of those that are told to kill in the name of GOD so that MIGHT will TRUMP RIGHT !!!

I accept G-D however I do not accept Religion which is used to control the masses.

Now to tie it all together in case my point is not clear.

Live as a Free Man or Free Woman and until you understand the TRUTH about Government you cannot LIVE FREE !!!

Power Corrupts and Absolute Power corrupts Absoulutely.

Think outside of the box and think for yourself.

That's the way that I see it in my own words...

EurAnalysis NFP guessing game
5th October 2012

Entries:

CurrencyMan: +75K
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Sorry PT, I jumped the gun on this one. Thanks for relieving me of this duty, I need to get at least one hour of sleep before news comes out!

Be back in a little over an hour or so...

By the way, I'm not liking those numbers for my shorts!

Ok.. Sleep well buddy.

Vtmn: +157K

wish you guys all the best and green pips!

Good afternoon all

HombreAlto +85k

EurAnalysis NFP guessing game
5th October 2012

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Deadline for entries is 10 minutes before release @ 12:20 GMT (13:20 London, 8:20 New York)

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LC_Invest +95k

I have to step away for about 20 minutes. Please continue submitting your entries paying close attention to make sure you pick a unique number. No duplicates allowed...



EurAnalysis NFP guessing game
5th October 2012

Entries:

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Deadline for entries is 10 minutes before release @ 12:20 GMT (13:20 London, 8:20 New York)

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Fxcode +96k

I only focus on one or two pairs. I never trade against the trend. I determine the trend. I trade only with Risk of 5% per Trade Plan. I use 100 to 1 leverage. I win 75% of all my trades.

I take profits each day. I scale in my purchases or sales.

I never trade with less than $50,000 US Dollars.

I am not afraid to take a loss. I am not afraid to not trade unless I see an opportunity. I think for myself.

My target is always 10% a month and I do not trade from 5:00 PM EST to 2:00 AM EST and on Sundays at all.

I use fundamentals and money flow with technicals for entry and exit.

My goal is to manage One Million Dollars for One Year with Barclays reporting on my trades.

My Goal is to trade until I reach the age of 80 and then get married to a Twenty Five Year Old.

I guess that about covers it as I wait to see NFP in just over one hour.

Dreams and hopes and aspirations are all good. Life is meant to be lived.

As Frank sung, "I Did It My Way" and hopefully the Final Curtain is still years away.

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Profitsonly +92 k

NFP +115 K

have a nice wknd all....

Yep - we are witnessing on of the biggest farce in recent history. I'm stunned how mass media in US is controled and how muted the whole concept of sistemic manimulation is..
I just hope that one day (rather sooner then later) everything will blow up and new brighter future will come

The Daily Forex Brief is written by FxPro's team in the City of London.


Visit fxpro.co.uk for more news, FX commentaries, FxPro TV, real-time feeds, calculators and tools.

Daily Forex Brief

London: Friday 5th October 2012

FlatlinedInto the European close yesterday there was something of a battle going on between those wanting the euro to move above the 1.30 level vs. the USD and those who did not. The euro bulls won, but only just, and with EUR/USD flatlining during the Asia session just this adds to the air of nervousness ahead of the US employment report later today. As always, this release brings the potential for volatility around the 12:30 GMT release time. Five of the past six releases (of the headline numbers) have come in softer than expected, which has generally pushed the dollar lower. After a 96k increase in August payrolls, expectations are for a 115k gain in September, with the unemployment rate edging higher, from 8.1% to 8.2%. The partial indicators available suggest that disappointment is likely once again this month.
http://webr.emv2.com/fxpro/fxpro-newDB.gifhttp://webr.emv2.com/fxpro/daily-briefDB.gifhttp://webr.emv2.com/fxpro/marketnewsDB.gifhttp://www.fxpro.com/sites/default/f...perf%2024h.png

EurAnalysis NFP guessing game
5th October 2012

Entries:

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Deadline for entries is 10 minutes before release @ 12:20 GMT (13:20 London, 8:20 New York)

>

http://www.ritholtz.com/blog/2012/10...Big+Picture%29

Its that time again kiddies, as we look at the monthly payroll data this morning.

From an investing standpoint, any one single monthly NFP is more or less irrelevant. As we are so fond of saying, its the overall trend — are jobs being created at a pace that increases potential revenue or profits? — that is significant, not any one month’s number.

However, this NFP IS much more significant from a political standpoint. Following the trouncing of the President at the debates by Mitt Romney, there could be consequences for an outlier report to each candidate. Note that while the ADP report was an upside surprise, it hardly correlates with the initial BLS Employment Situation report.

Bloomberg’s survey of economists –I know, that is a failing statement right there — expects unemployment to increase to 8.2% (from 8.1%) while Payrolls are estimated to have climbed by 115,000 workers. The average for 2012 has been 139,000 per month, barely keeping up with population growth.

As we have seen, for the better part of 2 years, the fundamentals have not been exactly the primary driver of equities or bonds. The possibility of a recession sometime before 2014 has increased; Europe is slowing; Asia is soft, the US is cruising along just above stall speed. With earnings at a peak (and potentially contracting), every data point seems to have an increased significance. Whether its the Recency Effect or something else, that seems to be the general gestalt surrounding this report.

I am not suggesting that NFP is wholly irrelevant — its just that we place way too much emphasis on each one, rather than the overall trend of employment. At least CNBC’s countdown to NFP is only measured in seconds, and not 100ths of a second.

~~~
Employment situation report released at 8:30am

gugun555: perhaps -117 ???