What happened to all of the doom and gloom economic threads?

[koalabear]

what is China doing? are they still pulling out of the Dollar?

Geithner vows U.S. will not devalue dollar - does this mean that Geithner is planning on devaluing the dollar?

http://www.reuters.com/article/2010/10/19/us-usa-dollar-geithner-idUSTRE69H4VO20101019

The US won't, but the Fed will.

 

[NeverEndingMe]

its like in the movie, "Dick and Jane" when Jim Carrey's character says "there is no problem" and we watch the stock ticker slip into the crapper.

when Geithner says, "We won't devalue the currency" is this the same thing?

how much money, or more money can team obama print before the world steps back and shuns the dollar?

The US won't, but the Fed will.

 

[Sean Renaud]

Short answer: A LOT. A whole fucking lot. In the short term it's not even on the list of things to be worried about.

 

[NeverEndingMe]

Short answer: A LOT. A whole fucking lot. In the short term it's not even on the list of things to be worried about.

you are the kind of person, where people upstream are yelling, "watch out the damn broke" and you are reluctant to leave your front pouch thinking those people upstream are nuts. thank god you have your obama juice keeping you sane

 

[busybody..]

what is China doing? are they still pulling out of the Dollar?

Geithner vows U.S. will not devalue dollar - does this mean that Geithner is planning on devaluing the dollar?

http://www.reuters.com/article/2010/10/19/us-usa-dollar-geithner-idUSTRE69H4VO20101019

btw, I suggest you look at what is happening in China

the whole thing is a scam/house of cards

 

[RobDownSouth]

you are the kind of person, where people upstream are yelling, "watch out the damn broke" and you are reluctant to leave your front pouch thinking those people upstream are nuts. thank god you have your obama juice keeping you sane

you are dam ignorant if you axe me!
see the winky-face, retards? That means I know my spelling errors are intentional...

 

[busybody..]

you are dam ignorant if you axe me!

Hello, NIGGER

 

[NeverEndingMe]

you are dam ignorant if you axe me!

thanks! but you get my point

 

[NeverEndingMe]

you are dam ignorant if you axe me!
see the winky-face, retards? That means I know my spelling errors are intentional...

why don't you chime in on how much money is in current currency? how much "money" team obama has printed?

how much more money can team obama print?

where did all the bad debts go from Freddy and Fannie?

 

[Sean Renaud]

why don't you chime in on how much money is in current currency? how much "money" team obama has printed?

how much more money can team obama print?

where did all the bad debts go from Freddy and Fannie?

He doesn't seem to have printed much, if he has it doesn't seem to be hurting anything.

He can print A LOT more. How much more depends on a lot of things most importantly how much less money is in circulation than should be? How much can we adjust for? Clearly more than we've done so far. That much is obvious.

Currently they've gone to the tax payer.

 

[NeverEndingMe]

He doesn't seem to have printed much, if he has it doesn't seem to be hurting anything.

He can print A LOT more. How much more depends on a lot of things most importantly how much less money is in circulation than should be? How much can we adjust for? Clearly more than we've done so far. That much is obvious.

Currently they've gone to the tax payer.

really? the value of the dollar is down 15% this year alone.....how much has gold shot up with the socialist obama in office?

 

[busybody..]

do you all know that China builds cites, malls and even a Disney land that are vacant?

do you all know that major corporations in China have DEFERRED interest and in some cases principal payments?

A HOUSE OF CARDS

 

[Sean Renaud]

It didn't fall by 15%. The worst you can claim is 10% vs the Euro and. . .yeah are you about to claim that Europe's economy is sound?

What gold does at this point really doesn't much matter. By any measure it has become unhinged from the economy as a whole.

 

[NeverEndingMe]

I love the China unauthorized Disney! have to say that it has become pretty farmland. China gives us many great things, like pollution! and children's toys made from lead

do you all know that China builds cites, malls and even a Disney land that are vacant?

do you all know that major corporations in China have DEFERRED interest and in some cases principal payments?

A HOUSE OF CARDS

 

[Sean Renaud]

I love the China unauthorized Disney! have to say that it has become pretty farmland. China gives us many great things, like pollution!

But you want to turn the US into China as far as polution goes.

 

[NeverEndingMe]

But you want to turn the US into China as far as polution goes.

just like an obama supporter, making stuff up. when have I said that? I do think we need to build 50-100 nuclear power plants (start building them yesterday)

 

[Sean Renaud]

just like an obama supporter, making stuff up. when have I said that? I do think we need to build 50-100 nuclear power plants (start building them yesterday)

Do you really want me to quote each and every time you've said government are fucktards, everytime government gets involved they fuck up, government should never do anything, govermnent is the 1%? That is the market working.

I love nuclear power (not sure what number we actually need) but you want the market, clearly the market isn't pushing very hard for nuclear power.

 

[NeverEndingMe]

I'm thinking the US dollar is taking, due to IMF calling for a global currency and away from the dollar.

think the report came out in 2010

 

[NeverEndingMe]

enjoy!

The head of the International Monetary Fund (IMF) Dominique Strauss-Kahn is a member of France’s Socialist Party. As one of the 187 member countries, U.S. taxpayers pay roughly 17 percent of the IMF’s total funding. Dominique Strauss-Kahn even unsuccessfully ran for president of France on the Socialist ticket in 2007. Rumors have been circulating that the socialist may be challenging current French President Nicholas Sarkozy in 2012.

Dominique Strauss-Kahn has made his political views clear. In April 2010, the IMF released a report called the “Reserve Accumulation and International Monetary Stability.” The report was full of extensive IMF jargon. However, it’s worth a read to discover what the IMF is scheming. The report reads:

A more ambitious reform option would be to build on the previous ideas and develop, over time, a global currency. Called, for example, bancor in honor of Keynes, such a currency could be used as a medium of exchange—an ’outside money’ in contrast to the SDR which remains an ‘inside money’.

The international bureaucracy has proposed a global currency to honor the father of Keynesian economics- John Maynard Keynes. As an influential economist of the 21st century, Keynes was the antithesis of free markets and limited government. He believed that massive government intervention in the marketplace would somehow lead to prosperity. In 1940, John Maynard Keynes first developed the idea of a supranational currency, called the bancor, to be the world's key currency. When asked about the long-term effects of his economic policies, Keynes famously replied “in the long run we are all dead.”

A global currency would grant even more power to the international bureaucracy while failing to stabilize the global financial system. The IMF fully intends to push for a dollar alternative. Just last week, the IMF released another report praising the idea. In a recent speech, Socialist Dominique Strauss-Kahn said there is “a sense that money sometimes flows around the globe in too-volatile a fashion and that countries need a more stable, more predictable external environment in order to prosper.”

How would the global currency work? In the IMF report it says:

One option is for bancor to be adopted by fiat as a common currency (like the euro was), an approach that would result immediately in widespread use and eliminate exchange rate volatility among adopters (comparable, for instance, to Cooper 1984, 2006 and the Economist, 1988). A somewhat less ambitious (and more realistic) option would be for bancor to circulate alongside national currencies, though it would need to be adopted by fiat by at least some (not necessarily systemic) countries in order for an exchange market to develop.

Who would print and administer the “bancor?” A global bank modeled after the Federal Reserve. The report continues:

A global currency, bancor, issued by a global central bank (see Supplement 1, section V) would be designed as a stable store of value that is not tied exclusively to the conditions of any particular economy. As trade and finance continue to grow rapidly and global integration increases, the importance of this broader perspective is expected to continue growing… The global central bank could serve as a lender of last resort, providing needed systemic liquidity in the event of adverse shocks and more automatically than at present. Such liquidity was provided in the most recent crisis mainly by the U.S. Federal Reserve, which however may not always provide such liquidity.

It sounds like a conspiracy theory. But I urge you to check out the report for yourself on the IMF's website. The International Monetary Fund (IMF) is a threat to America’s sovereignty. As Dominique Strauss-Kahn said about the European Union, “the centre must seize the initiative in all areas key to reaching the common destiny of the union, especially in financial, economic and social policy. Countries must be willing to cede more authority to the centre.” A global currency and bank would be a huge step towards a global government.

Do you really want me to quote each and every time you've said government are fucktards, everytime government gets involved they fuck up, government should never do anything, govermnent is the 1%? That is the market working.

I love nuclear power (not sure what number we actually need) but you want the market, clearly the market isn't pushing very hard for nuclear power.

 

[NeverEndingMe]

where are we at now today, how many American's living off Food Stamps? is that number going down, I think not.

maybe we need to look at the failed ideas and policies of the obama. after 3 years, and what does he have? excuses?

or is it obama's goal for 70% of American's to be living on Food Stamps?

 

[Sean Renaud]

where are we at now today, how many American's living off Food Stamps? is that number going down, I think not.

maybe we need to look at the failed ideas and policies of the obama. after 3 years, and what does he have? excuses?

or is it obama's goal for 70% of American's to be living on Food Stamps?

Lst I checked about 47% are on food stamps. I doubt the number is going down.

After three years he has an expanding economy, lower unemployment, a higher stock market and record profits for corporations. It's not great but it's a start.

Not hearing where you'r saying the government should keep regulations up so we don't become China. Is it written in invisible print somewhere?

 

[NeverEndingMe]

go take a look at Intel report and what the CEO said why they prefer to build chip plants in other countries. the CEO said, it costs intel $1,000,000,000 more to build a plant in America than other counties.

okay, some of us might say, well labor in America is a lot higher....but....


the reason why Intel is building outside of America is due to regulations and other obama crap. we need to wake up. why does it cost 1 billion dollars more to build in America and why is that acceptable? we need to get governet *1 in line before obama destroys what's left of AMERICA.



*1, my famous friend likes to call government fucktards like obama, govnet

Do you really want me to quote each and every time you've said government are fucktards, everytime government gets involved they fuck up, government should never do anything, govermnent is the 1%? That is the market working.

I love nuclear power (not sure what number we actually need) but you want the market, clearly the market isn't pushing very hard for nuclear power.

 

[NeverEndingMe]

Lst I checked about 47% are on food stamps. I doubt the number is going down.

After three years he has an expanding economy, lower unemployment, a higher stock market and record profits for corporations. It's not great but it's a start.

Not hearing where you'r saying the government should keep regulations up so we don't become China. Is it written in invisible print somewhere?

mommie, the reason why I punched billie is cuz billie punched me yesterday.

sorry, that doesn't hold up. obama sucks horse poo. its just that simple.

 

[patrick1]

It's odd how these cut-and-pastes operate. This from NeverEnding Me, a few posts up, is a blog from February 2011, before Strauss-Kahn was somewhat disgraced by a sexual incident and left the IMF. The blog is by a woman called Julie Borowski on 'Freedom Works'. (http://www.freedomworks.org/blog/jborowski/socialist-imf-head-calls-for-global-currency) She's what Americans call a libertarian.

I think she's alarmist about 'bancor'. Nobody is suggesting it replaces national currencies at all. Some people are floating the idea of its being an international currency, which has its merits. She has a rather unusual way of describing Keynes and the proposal:

<< The international bureaucracy has proposed a global currency to honor the father of Keynesian economics- John Maynard Keynes. As an influential economist of the 21st century, Keynes was the antithesis of free markets and limited government. He believed that massive government intervention in the marketplace would somehow lead to prosperity. In 1940, John Maynard Keynes first developed the idea of a supranational currency, called the bancor, to be the world's key currency. When asked about the long-term effects of his economic policies, Keynes famously replied “in the long run we are all dead.”

A global currency would grant even more power to the international bureaucracy while failing to stabilize the global financial system. >>

This is a terrible distortion by conflation of completely separate Keynesian ideas. His proposal for 'bancor' would have required countries over a certain level of deficit *and* over a certain level of surplus in international trade to pay interest on their bancor holdings. That's how it would have attempted to stabilise international trade, by providing inducements to remain within a certain degree of balance. At the moment there is no concrete proposal to solve the problem of countries like China and Germany running vast export surpluses while, in China's case, deliberately distorting the international value of their currency, and such countries holding large quantities of deficit countries' debts in the form of bonds and other investments.

Far from being 'the antithesis of free markets', Keynes was an active loser and gainer on the stock exchange. He believed in specific government intervention in times of recession, not because that 'would somehow lead to prosperity' but because he believed it would have a multiplier effect on the economy, particularly if spent on infrastructure projects that in turn employed the private sector.

His remark 'In the long run we are all dead' is intended to apply to all economics. The point is, Economics as a discipline, whether Hayek's, or Keynes's, fails to take account of the long run, and so in our economic dealings do we.

Patrick

 

[Sean Renaud]

go take a look at Intel report and what the CEO said why they prefer to build chip plants in other countries. the CEO said, it costs intel $1,000,000,000 more to build a plant in America than other counties.

okay, some of us might say, well labor in America is a lot higher....but....


the reason why Intel is building outside of America is due to regulations and other obama crap. we need to wake up. why does it cost 1 billion dollars more to build in America and why is that acceptable? we need to get governet *1 in line before obama destroys what's left of AMERICA.



*1, my famous friend likes to call government fucktards like obama, govnet

Those are the regulations keeping the polution out. While I'm sure you pulled that number from your ass still that is the price. Either it's worth it or you want to be China. Pick and STFU.