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

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JenAltArmy said:
did you read this yet? this might be the best thing since candy :)


http://www.businessweek.com/magazine/content/11_19/b4227004622477.htm?chan=magazine+channel_opening+remarks


to void out any and all union contacts, and start over. talk about a cost savings! then to come back and say, "if you don't like it, find a new job"

is it a good day in your Neighborhood, don’t you want to be my neighbor?
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while I'm not 100% sure of this "new order", by doing this they can fix government mistakes, and correct all the shit obama has done. so maybe this is a good thing?
 
Stocks mixed after surprise spike in jobless claims
First-time unemployment filings climb unexpectedly.
 
http://noir.bloomberg.com/apps/news?pid=20601110&sid=a51dT_l1zjWI


China Paying ‘Close Attention’ to U.S. Debate on Debt Level
By Bloomberg News

May 6 (Bloomberg) -- China, the biggest foreign holder of Treasury notes, is closely watching the debate over raising the U.S. debt ceiling and wants the Obama administration to do more to curb the deficit, Vice Finance Minister Zhu Guangyao said.

“We are paying close attention to the domestic discussion in the U.S. on debt and deficits,” Zhu told reporters in Beijing today. “We hope the U.S. can take effective measures toward fiscal reorganization just as President Obama suggested.”

His comments came days before about 30 top Chinese officials travel to Washington for an annual meeting on economic and military cooperation. Treasury Secretary Timothy F. Geithner will meet his counterpart Vice Premier Wang Qishan for two days of talks beginning May 9 and press the U.S. case for allowing China’s currency to appreciate further.

Geithner has said the U.S. can borrow until Aug. 2 after reaching the $14.29 trillion debt limit this month. Matthew Zames, chairman of a Treasury advisory panel and a managing director at JPMorgan Chase & Co., said last week that failure to raise the ceiling could trigger “another catastrophic financial crisis.”

President Barack Obama has offered the outlines of a plan to reduce the growth of the debt by $4 trillion over 12 years through a combination of spending cuts and tax increases. House Budget Committee Chairman Paul Ryan, a Wisconsin Republican, has proposed cutting spending by $6 trillion over a decade in part by privatizing Medicare and capping Medicaid spending.

‘Fiscal Foundation’
The U.S. has to take deficit-reduction measures “in order to improve the U.S. fiscal condition and to build a solid fiscal foundation for the long term sustainable growth of the U.S. economy,” Zhu said. China held $1.15 trillion in Treasuries as of the end of February, more than any other country.

“The U.S. certainly knows that the Chinese are probably the most important customer” for Treasuries, said Cliff Tan, head of emerging-markets research at Societe Generale SA in Hong Kong. “In the event of the unthinkable happening in Congress failing to raise the debt ceiling, you’re going to have a major, major earthquake in global fixed-income markets.”

Zhu said China “will push forward” on improving its currency system and that its focus was on improving the quality of its exchange-rate mechanism while U.S. officials push for faster yuan appreciation.

‘Intensify Communication’
“China is ready to intensify communication with the United States” on the yuan, Zhu said. “We have some differences on some specific issues and differences will be addressed through communication.”

The yuan has appreciated 5.1 percent against the dollar since the last annual meeting between the U.S. and China took place last May in Beijing. Still, the U.S. had a record $273.1 billion trade deficit with China last year as economic growth in both countries accelerated.

Zhu also said that currency policy is the “sovereign right” of every country. Vice Foreign Minister Cui Tiankai said at the same briefing that China’s relations with the U.S. “enjoy a strong momentum of growth.”

Geithner said May 4 in Washington that the U.S. wants China to let the yuan “move in response to market forces more rapidly.” That message will be conveyed next week, David Loevinger, the Treasury’s senior coordinator for China, told reporters in Washington yesterday.

‘Press China’
“We are going to press China to let its exchange rate adjust at a faster pace to correct its still-substantial undervaluation,” Loevinger said. “China continues to intervene massively in foreign-exchange markets to constrain the appreciation of its currency.”

Twelve-month non-deliverable yuan forwards dropped 0.6 percent this week to 6.3455 per dollar as of 11:04 a.m. in Hong Kong. The contracts reflected bets the yuan will strengthen 2.4 percent from the spot rate of 6.4959, according to data compiled by Bloomberg.

A rising yuan and falling dollar reduces the value of China’s holdings of Treasury and other debt. Smaller U.S. deficits may strengthen the dollar and boost the value of China’s holdings.

“Reduced U.S. fiscal spending may lead to a higher possibility of the U.S. dollar appreciation, therefore it helps China to maintain the value of the U.S. debt it holds,” said Li Jun, a Shanghai-based strategist at Central China Securities Holdings...
Click to expand...
 
vetteman said:
The new housing crash is all part of the UD envisioned recovery.
Click to expand...

This is the problem with UD and those like him, they just have no clue.

Basically, government workers/managers have no idea what a credit is verses a debit. now do most government people realize that when it comes to budget crunch that “they” can reduce expenses with out having to raise taxes.

How close are we getting to the edge, where we just don’t have other people’s money to spend?

Then will the left wing ‘tards get it?
 


The goddamn government continues to steal from savers. It is sheer hypocrisy for the bastards to tell people to be prudent and save, then turn around and keep interest rates at nothing while inflation eats away the value of savings.


If you have savings, the last year has seen the value eroded by inflation of 3.2% ( not to mention any taxes which have to be paid on interest earnings ).


Today's CPI announcement reads:

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in April on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.2 percent before seasonal adjustment.


The energy index posted another increase in April as the gasoline index continued to rise, the latter accounting for almost half of the seasonally adjusted all items increase. The household energy index also rose, with all of its major components posting increases. The food index increased as well in April, though the 0.5 percent rise in the food at home index was the smallest increase this year. Within the food at home component, the indexes for meats, poultry, fish, and eggs, for dairy and related products, and for nonalcoholic beverages all posted notable increases, though the fresh vegetables index did decline following recent advances.


The index for all items less food and energy rose 0.2 percent in April...
( what a bunch of crap; why do they try to deceive people with this nonsense? Do they think people don't eat or use energy? )

http://www.bls.gov/news.release/pdf/cpi.pdf
Click to expand...


 
I see threads and blogs like this everywhere. As does everyone else. Someone from the conservative side saying we spend too much and need to cut back. Liberals saying we need to take care of every lazy prick that won't help themselves.

When the economy crashed. I lost my job, my 401k went down the toilet, yet I have yet to ask for unemployment or anything from my fellow taxpayers. I'm trying to do it on my own. This is what America is supposed to be about. Personal responsibility, and rising above a crisis on your own or with a little help from family and friends. Not just sit back and beg from the government to save you.

As far as the original question starting the thread. The CPI is jury-rigged just like everything else the government does. Take from here, and give to there, and so on, and so on. What all you people need to truly understand is that all those crooks in D.C. are all the same. Not one of them is telling you the truth. The conservatives say they want lower taxes and to help the private sector, but they never do. The liberals and democrats say there for the people, yet they never actually help anyone. They are all the same. They are all each others best friends at the end of the day.

What's worse? Conservatives that accept money from oil companies that pay 40% of their profits to the government or Liberals that accept money from equally huge companies like GE that only pays 7% of their profits to the government. They are all crooks. You think they all are not on the same side, and that they don't like each other. Well think about this. Rush Limbaugh got married again last year, and one of the special invitees was James Carvill.

The one thing that both sides are happy about. Most Americans can't think for themselves. If the majority of America could then all the politicians would be lucky to find a job a walmart.
 
onemadvagabond said:
I see threads and blogs like this everywhere. As does everyone else. Someone from the conservative side saying we spend too much and need to cut back. Liberals saying we need to take care of every lazy prick that won't help themselves.

When the economy crashed. I lost my job, my 401k went down the toilet, yet I have yet to ask for unemployment or anything from my fellow taxpayers. I'm trying to do it on my own. This is what America is supposed to be about. Personal responsibility, and rising above a crisis on your own or with a little help from family and friends. Not just sit back and beg from the government to save you.

As far as the original question starting the thread. The CPI is jury-rigged just like everything else the government does. Take from here, and give to there, and so on, and so on. What all you people need to truly understand is that all those crooks in D.C. are all the same. Not one of them is telling you the truth. The conservatives say they want lower taxes and to help the private sector, but they never do. The liberals and democrats say there for the people, yet they never actually help anyone. They are all the same. They are all each others best friends at the end of the day.

What's worse? Conservatives that accept money from oil companies that pay 40% of their profits to the government or Liberals that accept money from equally huge companies like GE that only pays 7% of their profits to the government. They are all crooks. You think they all are not on the same side, and that they don't like each other. Well think about this. Rush Limbaugh got married again last year, and one of the special invitees was James Carvill.

The one thing that both sides are happy about. Most Americans can't think for themselves. If the majority of America could then all the politicians would be lucky to find a job a walmart.
Click to expand...

Right on, m'man! I say we kill 'em ALL.

http://www.gifnation.com/albums/funny/nuke.gif

Then we gather the survivors, clean up the mess and rebuild society in my...err....I mean, our better way!

hyuk!

:D
 
Charlie Chan and the Case of the Incredible Shrinking Dollar

As the value of the dollar continues to decline, that legendary Honolulu police detective of yesteryear, Charlie Chan, is summoned to question several persons-of-interest.

With his Number Three Son, Tommy, Chan enters the plush, mahogany paneled meeting room at the Department of the Treasury where several likely suspects await.

In the center of a conference table, inside a tamper-proof glass box, is a single dollar bill that appears to be smaller than normal. We listen in on the conversation:

Vice President Joe Biden: Welcome to America, Charlie. I've heard so much about your restaurant in Honolulu. I love cashew chicken, myself. Sure glad you could join this Spring into Recovery celebration. You know, Charlie, I'm on record as saying that we have to spend money so we don't go bankrupt. Now, by that I mean we...

Chan: Honorable Vice President, excuse please. Humbly request you get everyone take-out lunch from Chinese Restaurant down block. (Biden agrees and leaves on his mission.)

Tommy: Pop, you just sent the Vice President of the United States out to get lunch!

Chan: Ancient honorable ancestor say serious matter best discussed by serious people. He not shrink dollar, Tommy. But he may get lost seeking restaurant.

Jay Carney, White House Press Secretary: Mr. Chan, the President, as you well know, is very concerned about the shrinking dollar and spends several hours each day in meetings with his Council of Economic Advisors, working hard to make sure that...

Chan: Mr. Carney, no questions now. Thank you. Please tend to important matters at White House. (Turning next to Timothy Geithner, Secretary of the Treasury) Honorable Secretary, in June 2009, you told group of Chinese students in the land of my ancestors that America will not monetize its debt.

Geithner: That's right, Charlie. In fact, as I said after that meeting with those Chinese students, "I'm actually hearing quite a lot of confidence in not just the long term strength, resilience, dynamism of the U.S. economy-- as you would expect. I think that confidence is justified."

Chan: Why then, Honorable Secretary, did students laugh at you? (Chan holds up one hand before Geithner can answer.) No need answer, Honorable Secretary. Perhaps your meaning lost in translation. (Turning to Federal Reserve Chairman Ben Bernanke) Honorable Chairman, also in June 2009, you say to members of Congress same thing, that "The Federal Reserve will not monetize the debt." But you print many dollars since.

Bernanke: Well, as I told Congress, "Either cuts in spending or increases in taxes will be necessary to stabilize the fiscal situation. Furthermore it's important...bla...bla...bla"

Tommy: (Pulls Charlie aside) Pop, he didn't answer your question. And what was all that talk about QE2? Is he going on a cruise?

Chan: QE means quantitative easing, Tommy. Ancient honorable ancestor say that when important man desires to avoid question, his answer is like Chinese puzzle box - only able to be opened by complicated series of manipulations. Economists use convoluted language to convey complexity in order to mask questionable content.

Tommy: You mean he was blowing smoke up your skirt?

Chan: NO! I mean economists use important sounding...oh, never mind. Explain later. And I never wear skirts.

Tommy: Look, Pop! The dollar under the glass shrunk while Bernanke was talking!

Chan: (Nods yes.)

Austan Goolsbee: Mr. Chan, as Chairman of the Council of Economic Advisors, I'm missing an important meeting with the President. Look, I'm not responsible for the incredible shrinking dollar, but I did bring along the YouTube video of an internet presentation where I professorially...because I was, you know, a professor at the University of Chicago... where I present a white board lesson explaining why we need to increase taxes on the rich. I can show it to you here on my laptop. First, I start off...

Chan: Honorable Chairman, thank you. Not now. Maybe later. Now interested only in what you know about incredible shrinking dollar.

Goolsbee: Detective Chan, like I said back last year when the economy slowed down in the first quarter of 2010, ""The biggest driver was a reduction in government spending at the federal level, a big negative from defense spending." That's still true. The government must spend more money, until we collect more revenue from increased taxes on the richest Americans. Until then, it's print and borrow, print and borrow, print and borrow, till we spend our way out of this recession. That's why it's so important we raise taxes on the rich because they're not...

Chan: Thank you, honorable Chairman. No additional questions.

Tommy: Gee, Pop, he sounds like the Vice President. Are they related?

Chan: Ancient honorable ancestor say that bad economic theory like virus that spreads sickness.

Tommy: Well, he's a one trick pony. It's like he's pedaling a unicycle in a NASCAR race. He's so focused on increasing taxes on the rich that if he was a cell phone his only app would be making calls.

Chan: Speak English, Tommy! And remember - stand-up comedy is Goolsbee's hobby, not yours.

Geithner: Charlie, can I leave now. I have to go work on my taxes.

Chan: One more question, Honorable Secretary. In February 2009, London newspaper reported that, although you said you "had not read the plans by China's central bank governor for a ‘super-sovereign reserve currency' run by the International Monetary Fund" you were "open" to the idea. When dollar value declined next day, you told different story. You want weak dollar, Honorable Secretary. So you have motive to shrink it.

Geithner: My tax accountant just paged me. I do have to go.

(Chan and Tommy remain in the conference room.)

Tommy: Look, Pop! The dollar got smaller, even though no one in the room touched it! So who's guilty of shrinking it?

Chan: Ancient honorable ancestor say that, although big crime may have one desire, it often requires many to accomplish.

Tommy: You mean they're all complicit, along with others, in shrinking the dollar, to some extent?

Chan: We must leave now, Tommy. Before Joe returns with curry chicken from an Indian Restaurant.


*****
Lee Cary
 
Oh goodie, the Titanic's Band is striking up a Viennese Waltz...

Da dumb dumb dumb dumb, dumb dumb, dumb dumb...

The situation in the United States has deteriorated and will continue to do so unless drastic action on our federal, state and local government deficits is taken. We need to trace what happens during an economic collapse. In preparation for a collapse here is what you can do personally to avoid being swept away by the tidal wave of fear, anxiety and trepidation.

During the early stages of a nation collapsing economically, the debt of the nation swells almost uncontrollably. We, in the United States are already there.

From the burgeoning debt loads come the setting for collapse.

While the disaster can unfold in many ways, the course for the United States is already set in motion.

Inflation will increase. When inflation hits, citizens with limited financial resources become economic casualties first. These citizens are part of the beginnings of the downward spiral which ultimately leads to a depression.

In a misguided attempt to kick start the economy, our government will attempt another stimulus program which will fail. The parameters under which Fiscal Policy might work if you are so inclined to believe that it does have long been broken. Consequences of government actions are becoming unpredictable and are having unintended consequences.

The United States began the first phase of the stimulus program with the American Recovery and Reinvestment Act as well as the significant expansion of the unemployment compensation to pull us out of the recession. Both actions were the wrong actions at the wrong time.

When stimulus programs fail, our government will try to increase taxes or fees, often in deceptive ways such as fuel taxes, oil drilling taxes, user fees or increased regulatory burdens. This demand to increase taxes is to help support the citizens who were the first economic casualties of the recession as well as to pay for the deficit.

Next the bond rating agencies will downgrade our debt. At that point, our interest rates will increase and further prolong the recession. It is this downgrading of the debt and potential inability to sell our debt on the open markets that will be our undoing.

Our deficits will skyrocket because of the increased interest costs and creditor-forced reductions in spending will be enforced against us. The U. S. Congress will no longer establish our budget priorities. Our creditors will, as is done is Greece today.

The depression follows.
Click to expand...
Frank Ryan
The American Thinker

Da dumb dumb dumb dumb, dumb dumb, dumb dumb...
 
Recreating Spain's Green Economy and why it will work...

Consider: The U.S. uses nearly 4 terawatts of energy per year (a terawatt is 1 trillion watts). According to Reason magazine's science editor, Ronald Bailey, relying on the work of MIT's Daniel Nocera, putting a windmill on every available spot on the globe that has class 3 winds or higher—i.e., winds in excess of 11.5 mph—would produce 2.1 terawatts at best. And we're not going to be piping in wind energy from the Mongolian steppes. Biomass could produce 10 terawatts—if every person on the planet stopped eating, and we converted all of the world's crops into fuel for machines instead of people.

Even if the current grid did supply enough electricity to power our transportation needs, the U.S. still would have to rely on gasoline for a great deal of its movement. Take the Chevy Volt, America's best-selling electric vehicle. It averages a mere 30-40 miles on battery power alone. Then it needs to recharge for 10 hours. The Volt is a four-door compact. Imagine how long it would take to recharge a school bus. And if you leave the Volt unplugged in cold weather, then the engine must burn gasoline until the battery warms up to its minimum functioning temperature—somewhere between 32 and 50 degrees Fahrenheit.

Foes of measures to expand drilling—such as the bill passed by the House last week that would open up Virginia's shores for exploration—point out that America consumes 22 percent of the world's energy but contains only 1.5 percent of proven petroleum reserves. Note the word "proven": It refers to the amount of commercially recoverable petroleum available under current government regulations.

In other words, no matter how much petroleum someplace such as the Arctic National Wildlife Refuge contains, if drilling is forbidden there by federal policy then it doesn't count as part of the U.S. reserve. Critics who say we shouldn't permit drilling off Virginia's coast because the U.S. has only a small share of the world's proven reserves are making a circular argument. If drilling were permitted, then we would have much bigger reserves.
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A. Barton Hinkle
Reason.com

... NOT!
 
Such varied sources of information you have there Cap'n.

I'd wager if you read anything that presented an idea that challenged what you already believe your brain would pour out of your ears.

At least, that's how it appears.
:rolleyes:
 
Ulaven_Demorte said:
Such varied sources of information you have there Cap'n.

I'd wager if you read anything that presented an idea that challenged what you already believe your brain would pour out of your ears.

At least, that's how it appears.
:rolleyes:
Click to expand...

I read most everything that counters. That's how I got to where I am today instead of remaining totally devoted to the Democrat Party and Socialist control of the economy...
 
Ulaven_Demorte said:
Such varied sources of information you have there Cap'n.

I'd wager if you read anything that presented an idea that challenged what you already believe your brain would pour out of your ears.

At least, that's how it appears.
:rolleyes:
Click to expand...

how does one get to your fantasy land UD? is it drugs? booze? or are you just insane?
 
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