History and Economies

[Annie]

where are we headed?

Here's Niall Ferguson's Complete And Definitive Guide To The Coming Sovereign Debt Crisis

 

[loosecannon]

Harvard’s Niall Ferguson’s Complete And Definitive Guide To The Coming Sovereign Debt Crisis|oolaah

 

[antagon]

this gets my vote for most retarded way to start a thread.

 

[Annie]

this gets my vote for most retarded way to start a thread.

No problem, I aim to be the best.

 

[loosecannon]

But the OP is actually pretty damned good.

 

[Truthmatters]

how sad

 

[Annie]

how sad

Indeed. The economy is very sad and quickly getting worse thanks in major part to the policies you applaud.

 

[antagon]

how sad

Indeed. The economy is very sad and quickly getting worse thanks in major part to the policies you applaud.

there's an 'original' opinion. could you explain how you've judged that the economy is getting worse? quickly, moreover? what's your take on how policy has caused this effect you claim?

 

[Annie]

how sad

Indeed. The economy is very sad and quickly getting worse thanks in major part to the policies you applaud.

there's an 'original' opinion. could you explain how you've judged that the economy is getting worse? quickly, moreover? what's your take on how policy has caused this effect you claim?

At each turn, the President and his advisors are choosing the worst possible path in our names and with our money.

Unemployment continues, inflation has begun to kick in and now the fed is embarking on another way to enrich Goldman Sachs, while causing ever increasing misery on the people.

 

[antagon]

Indeed. The economy is very sad and quickly getting worse thanks in major part to the policies you applaud.

there's an 'original' opinion. could you explain how you've judged that the economy is getting worse? quickly, moreover? what's your take on how policy has caused this effect you claim?

At each turn, the President and his advisors are choosing the worst possible path in our names and with our money.

Unemployment continues, inflation has begun to kick in and now the fed is embarking on another way to enrich Goldman Sachs, while causing ever increasing misery on the people.

i haven't seen that policy has been that gawdawful. i hasn't been hell-bent on recovery as it could have been, but there is little more than additional fiscal measures which could be of much help. that's not so popular. what do you suggest?

the fed's policy isn't bad for the economy. i don't buy the inflation theories which are popular nowadays. in the real world, the deflation is all i could see. homes and labor prices. since the latter aren't deflatable, bigger firms, especially, are doing the mass-layoff thing. even though me and some of the smaller firms i know of are hiring, and the national figures are showing bigger net job numbers, it's not budging the unemployment rate. i doesn't seem to be getting worse.

 

[American Horse]

how sad

Indeed. The economy is very sad and quickly getting worse thanks in major part to the policies you applaud.

there's an 'original' opinion. could you explain how you've judged that the economy is getting worse? quickly, moreover? what's your take on how policy has caused this effect you claim?

Both Robert Zoellick, president of the world bank, and Sarah Palin weighed in on the same day.

Both were responding to the value of the dollar and surging commodity prices since Bernanke announced what is cryptically referred (Cryptic in this case meaning only the "enlightened ones" understand him) to as QE-3 (quantitative easing),, and more obscurely, a few years back, known as "monetizing the debt,"

Palin was commenting in real time on " ... A "weak dollar—a direct result of the Fed's decision to dump more dollars onto the market"—and rising oil and food prices.

She also noted the rising world alarm about the Fed's actions, which by now Germany, Brazil, China among MANY OTHERS AT THE G-20 have bluntly commented on.

She went on to say "We don't want temporary, artificial economic growth brought at the expense of permanently higher inflation which will erode the value of our incomes and our savings, ... We want a stable dollar combined with real economic reform. It's the only way we can get our economy back on the right track."


ZOELLICK, mirrored Palin, with his "money quote:"
"The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today."

But Mr. Obama recently said:

"We can't continue situations where some countries maintain massive [trade] surpluses, other countries have massive deficits and never is there an adjustment with respect to currency that would lead to a more balanced growth pattern."
But Obama was calling for China to strengthen their currency against the dollar.

Who of the above three seems to best understand the current problems with US monetary policy, and who least understands it?


A look at the chart below reflects the opinion of the market on QE-3

Cotton up 100% year to date, and 80 points of that since Aug 27, the date Bernanke first broached "Quantitative easing"
And:
Gold up 29% year to date
Soybeans up 27% year to date
Copper up 21% year to date,
Crude Oil up 9% year to date

Chart 2010 - Raw Power/Commodities Fueled By The Fed

 

[Annie]

Yep, anyone saying that inflation isn't kicking in, just hasn't been doing the grocery shopping. Clothing prices too are rising, fast. Gasoline? Don't even talk about that.

Now I can do without clothes, but not food and gasoline.

 

[loosecannon]

the CPI, real estate, wages and even Chinese goods themselves all point to falling prices, not rising prices.

And Palin was wrong. In a globalization world we must have a weak dollar, period.

 

[Annie]

the CPI, real estate, wages and even Chinese goods themselves all point to falling prices, not rising prices.

And Palin was wrong. In a globalization world we must have a weak dollar, period.

food and gasoline are not figured into the CPI. Real estate is years from recovering, so the policies for 'this year' will have little or no impact.

To think other countries will not respond to this gambit is like the baby who drops their spoon, but doesn't realize it is still there, on the floor.

 

[loosecannon]

the CPI, real estate, wages and even Chinese goods themselves all point to falling prices, not rising prices.

And Palin was wrong. In a globalization world we must have a weak dollar, period.

food and gasoline are not figured into the CPI. Real estate is years from recovering, so the policies for 'this year' will have little or no impact.

To think other countries will not respond to this gambit is like the baby who drops their spoon, but doesn't realize it is still there, on the floor.

15 other nations including China were already trying to artificially weaken their own currencies.

We are hardly alone in this.

 

[Annie]

the CPI, real estate, wages and even Chinese goods themselves all point to falling prices, not rising prices.

And Palin was wrong. In a globalization world we must have a weak dollar, period.

food and gasoline are not figured into the CPI. Real estate is years from recovering, so the policies for 'this year' will have little or no impact.

To think other countries will not respond to this gambit is like the baby who drops their spoon, but doesn't realize it is still there, on the floor.

15 other nations including China were already trying to artificially weaken their own currencies.

We are hardly alone in this.

Which was my point, now that he's wrecked ours, he's intent on wrecking the global economy. Each path chosen, has been wrong.

 

[antagon]

horse, i read that journal article that quoted palin and zoelick together. i really dont think that palin's diagnosis reflects the situation on the street in the US, or that her ideas about a strong dollar serve our best interests either. on the other hand, i recognize the influence that all the market-money has had on bubbling commodities. there are other inputs responsible for the extremes in cotton and soybeans. shortages in those cases.

zoellick has some commical ideas taken from that same statement. i think his perspectives on the world aren't in our interest or even sane. the same thing can be said of china and germany.

 

[loosecannon]

This isn't about Obama. The GOP would do the exact same stuff if they were in charge right now. There is no real diff between the parties.

 

[American Horse]

horse, i read that journal article that quoted palin and zoelick together. i really dont think that palin's diagnosis reflects the situation on the street in the US, or that her ideas about a strong dollar serve our best interests either. on the other hand, i recognize the influence that all the market-money has had on bubbling commodities. there are other inputs responsible for the extremes in cotton and soybeans. shortages in those cases.

zoellick has some commical ideas taken from that same statement. i think his perspectives on the world aren't in our interest or even sane. the same thing can be said of china and germany.

I agree with your last paragraph. But this reflects on the state of monetary affairs in the world today. I would hope these two statements, made vis-a-vis the impending QE-3 monetization of the debt by Bernanke, would wake people up. I, as a more or less retired person with limited cash to stretch over 15 or twenty years, am very concerned.

 

[antagon]

food and gasoline are not figured into the CPI. Real estate is years from recovering, so the policies for 'this year' will have little or no impact.

To think other countries will not respond to this gambit is like the baby who drops their spoon, but doesn't realize it is still there, on the floor.

15 other nations including China were already trying to artificially weaken their own currencies.

We are hardly alone in this.

Which was my point, now that he's wrecked ours, he's intent on wrecking the global economy. Each path chosen, has been wrong.

i'm getting the impression that you're hellbent on taking a partisan rather than real view on everything, but you could probably see how the fed and the government work independently. you might be able to see how a weaker dollar could do us some good right now. could you explain how an economy like ours would benefit from a strong dollar via scarce money?