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  • http://www.youtube.com/watch?v=894X9_CU-QQ

    credit interview with ben bernanke on 60 minutes this past weekend
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    • I think they are looking for state/local to pick up the other 10%.

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      • Interesting
        Check Out the MUSCULAR DEVELOPMENT STORE - http://www.musculardevelopmentstore.com/

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        • yeah they are basically backpeddling. It's a great 'populism' tactic on the Government's behalf. Gives Americans someone to hate. Personally, they shouldn't have put themselves in the position to be asking, I mean begging, for money from the Government.

          I don't really have any compassion for AIG, or any of those mismanaged companies for that matter.

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          • Devaluing the dollar, inflation, dumping Treasuries, refusing to buy more = downward US Dollar:


            The Mother of All Bells
            March 20, 2009
            By Peter Schiff

            There is an old adage on Wall Street that no one rings a bell at major market tops or bottoms. That may be true in normal times, but as many have noticed, we are now completely through the looking glass. In this parallel reality, Ben Bernanke has just rung the loudest bell ever heard in the foreign exchange and government debt markets. Investors who ignore the clanging do so at their own peril.

            The bell’s reverberations will be felt by everyday Americans, whose lives are about to change in ways few can imagine. While nearly every facet of America’s economy has been devastated over the past six months, our national currency has thus far skipped through the carnage with nary a scratch. Ironically, the U.S dollar has been the beneficiary of the global economic crises which the United States set in motion. As a result, our economy has thus far been spared the full force of the storm.

            This week the Federal Reserve finally made clear what should have been obvious for some time – the only weapon that the Fed is willing to use to fight the economic downturn is a continuing torrent of pure, undiluted, inflation. The announcement should be seen as a game changer that redirects the fury of the financial storm directly onto our shores.

            In its statement, the Fed announced its intention to purchase an additional $1 trillion worth of U.S. treasury and agency debt. The purchases, of course, will be made with money created out of thin air through the Fed’s printing presses. Few can doubt that they will persist with these operations until the economy returns to its former health. Whether or not this can ever be accomplished with a printing press alone has never been seriously considered. Bernanke himself admits that we are in uncharted waters, with no map or compass, just simply a hope that more dollars are the answer.


            Rather than solving our problems, more inflation will only add to the crisis. Falling asset prices, the credit crunch, declining consumer spending, bankruptcies, foreclosures, and layoffs are all part of the necessary rebalancing of our economy. These wrenching movements, however painful, are the market’s attempts to resolve the serious problems at the root of our bubble economy. Attempts to literally paper-over these problems will lead to disaster.

            Now that the Fed has recklessly shown its hand, the mad dash to get out of Treasuries and dollars should not be far off. The more the Fed prints to buy bonds the less the dollar is worth. Holders of our debt (read China and Japan) understand this dynamic. We must expect that they will not only refuse to buy new bonds, but they will look to unload those bonds they already own.
            Link & Entire: http://www.europac.net/externalframe...61&type=schiff

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            • yeah. i hope they have plan B cuz devaluing the dollar isn't what i'd consider a 'long-term solution'.

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              • after awhile, i stop reading all this news even though i shouldn't. it's just one thing after another.

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                • The stuff with AIG is nuts. The Government is making an example out of them. Sucks for them unfortunately, but it is about time they start using some muscle here.

                  At the end of the day, whether you are right or wrong, you are wrong and the Government is right. I've seen my agency strong-arm many companies. All I gotta say is that sucks for them and I'm glad I'm not on that recieving end.

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                  • Gerald Celente on December, 2007. 1 1/2 years ago, interviews from 2006, and some later interviews in 2008.

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                    • Basics of supply and demand and Montarist economics. This channel/stattion tends to be a little histrionic, but it's short:

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                      • Gold has been going up lately. Same with copper. I should have bought both of those on hindsight, but opted not to. I went with oil instead though. Eventually gold and oil will be the only 2 things left that hold value.

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                        • You know what really is messed up is I have money right now locked in CDs with interest rates that I thought were 'good' (they actually are), but now will become a washout due to the increase in inflation essentially 'beating' my current interest rates. Mind you they still don't mature for another 2 more years. Nice.

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                          • Did anyone else see that video clip on MSNBC where that woman took out 5 mortages totaling 1.3 million dollars, yet her annual income was about $20,000 and how she said that her situation wasn't her fault. Wow.

                            No wonder China hates us.

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                            • Originally posted by ChromeHearts View Post
                              Did anyone else see that video clip on MSNBC where that woman took out 5 mortages totaling 1.3 million dollars, yet her annual income was about $20,000 and how she said that her situation wasn't her fault. Wow.

                              No wonder China hates us.
                              I think China is smiling. Looking at stupidity. As the USA slips China is rising, even with the global crisis, and yes China has many problems, but China produces, and China saves.

                              They cannot create nor invent. But the sad fact is, with the US where it is and where it is headed, it may not matter.

                              Devolution? Perhaps, intellectually. Economically? Sadly, not.

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                              • It is a double edge sword for China. China still has a lot of money invested in the US that they will not even begin to recoup for probably a minimum of 10-15 years.

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