US vs. European Economy

I have a degree in economics and I'm starting a masters this year.

I'm pretty sure no one on the Internet gives a shit.

Obviously Edward does if he thinks taking Econ 101 is a prerequisite for any discussion on an internet forum. :cuckoo:

That's just rhetoric he uses to get under your skin. If this were a place where people actually discussed economics in a serious way we would all give our real names and bios right up front and we would cite primary sources (not Wikipedia) when we give our opinions. Doesn't make anybody "right" or "wrong' and I have nothing to do with writing, interpreting, or enforcing the rules of this message board. It's just obvious that this isn't an academic discussion area when you find hundreds of posts arguing over whether the economy is or is not "pure shit".
 
I'm pretty sure no one on the Internet gives a shit.

Obviously Edward does if he thinks taking Econ 101 is a prerequisite for any discussion on an internet forum. :cuckoo:

That's just rhetoric he uses to get under your skin.

And you have a problem with the way I responded to that rhetoric? I don't understand why you're having a go at me. You expect that when he patronises me I just say "Thank you for that great advice, Edward."? What do you want from me? :eusa_eh:
 
Obviously Edward does if he thinks taking Econ 101 is a prerequisite for any discussion on an internet forum. :cuckoo:

That's just rhetoric he uses to get under your skin.

And you have a problem with the way I responded to that rhetoric? I don't understand why you're having a go at me. You expect that when he patronises me I just say "Thank you for that great advice, Edward."? What do you want from me? :eusa_eh:

Just recognition.... that's all. Ed is always talking about how people are "afraid" of things and they should "take econ101". It's his rhetoric. If you are, in fact, an expert in economics then you don't hang out here.... cuz about 2/3rds the people here are Ron Paul whackjobs.
 
That's just rhetoric he uses to get under your skin.

And you have a problem with the way I responded to that rhetoric? I don't understand why you're having a go at me. You expect that when he patronises me I just say "Thank you for that great advice, Edward."? What do you want from me? :eusa_eh:

Just recognition.... that's all. Ed is always talking about how people are "afraid" of things and they should "take econ101". It's his rhetoric. If you are, in fact, an expert in economics then you don't hang out here.... cuz about 2/3rds the people here are Ron Paul whackjobs.

Who said expert? An undergrad degree is far from an expert. There are some pretty cluey people on here. It's really just Edward that spoils the fun with his infuriating idiocy.
 
An ECON 101 course is more likely to confuse you than clarify what is happening in our economy.

ECON 101 is a childish caracture of real economics.
 
An ECON 101 course is more likely to confuse you than clarify what is happening in our economy.

ECON 101 is a childish caracture of real economics.

Yeah that's pretty accurate.
 
cuz about 2/3rds the people here are Ron Paul whackjobs.

of course if true rather than merely alluding to it you would not be afraid to point out your best example of being a "whackjob"?? What does your fear tell you?

One has to a whack job to waste everyone's time calling names like a small child
 
with his infuriating idiocy.

why be so afraid to give your best example of "idiocy" for the whole world to see!!! What better way is there to drive your point home so everyone believes you? When you get to college you'll learn that, I presume, and not need to be reminded over and over.
 
cuz about 2/3rds the people here are Ron Paul whackjobs.

of course if true rather than merely alluding to it you would not be afraid to point out your best example of being a "whackjob"?? What does your fear tell you?

My fear tells me that I can hardly imagine where to begin. The Ron Paul Whackjobs have developed a Tolkienesque world of good vs evil where Barack Obama is the giant disembodied eye and they are n'er more than a band of humble hobbits following Ron Paul to retrieve the gold standard ring from the pits of Mordor (or however the eff it went, I don't know)....

They infest every thread with an out-of-touch otherwoldliness that puts me very much on the side of those I might otherwise be opposed to. We're all bound together by this thing called reality and the Ron Paul Whackjobs want none of that.

I tell you, Ron Paul Whackjobs. You will never, ever, ever, ever get anything you want, ever. You're just too far out in left field. Your own Republican party pays no attention to you.
 
cuz about 2/3rds the people here are Ron Paul whackjobs.

of course if true rather than merely alluding to it you would not be afraid to point out your best example of being a "whackjob"?? What does your fear tell you?

My fear tells me that I can hardly imagine where to begin. The Ron Paul Whackjobs have developed a Tolkienesque world of good vs evil where Barack Obama is the giant disembodied eye and they are n'er more than a band of humble hobbits following Ron Paul to retrieve the gold standard ring from the pits of Mordor (or however the eff it went, I don't know)....

They infest every thread with an out-of-touch otherwoldliness that puts me very much on the side of those I might otherwise be opposed to. We're all bound together by this thing called reality and the Ron Paul Whackjobs want none of that.

I tell you, Ron Paul Whackjobs. You will never, ever, ever, ever get anything you want, ever. You're just too far out in left field. Your own Republican party pays no attention to you.

Just as I thought, the liberal can't say anything of substance so calls names like a child on a playground!!
 
I'm pretty sure no one on the Internet gives a shit.
Obviously Edward does...
Hell, I'll tell you who "gives a shit", corporate manpower services! There're a lot of hiring agencies that would crap in their pants to pick up that kind of talent.

Go for it DS!

I'd respect a masters in economics a lot too, as should everyone. I hope he gets it, and not a liberal brainwashing. I just hope he realizes he must attend college first to get some of the basics down.
 
We still have somewhat higher economic growth prospects than Europe. Even though we're growing at just 2%, it's better than 1% or Zero like it is in Europe. We also have a stronger federalist system than Europe, meaning our ability to respond to a problem would at least happen in Uniform unlike Europe where you have many countries all with their own Fiscal Budgets. Oh, and the fed. :/
 
Obviously Edward does...
Hell, I'll tell you who "gives a shit", corporate manpower services! There're a lot of hiring agencies that would crap in their pants to pick up that kind of talent.

Go for it DS!

I'd respect a masters in economics a lot too, as should everyone. I hope he gets it, and not a liberal brainwashing. I just hope he realizes he must attend college first to get some of the basics down.

dry.gif
 
...hope he gets it, and not a liberal brainwashing. I just hope he realizes he must attend college first to get some of the basics down.
That's his business, and whether any of us is smart has no affect on the whether the fed can pay off the public debt by simply creating dollars. It can't because that's not the Fed's mission.
 
... no 'monetization' happening there. The purchases are occurring in the secondary market. Government debt can not be serviced by the Fed without obliging the Fed to do so by modifying the Federal Reserve Act. Even if you want to engage in semantics and count the seigniorage the Fed earns and remits to the Treasury as "monetization", that's a negligible proportion of total government debt. The bottom line is, the trillions of government debt can't be payed off by printing money unless the FRA is modified.
according to Wikipeida:
The Government Treasury must pay off Government debt, either with Money it already holds; or ... by issuing new bonds, which are sold to either the public directly, or the central bank, in order to raise the funds... In this latter case, where bonds are placed with the central bank, the central bank will create the needed money by conducting an open market purchase, i.e. by increasing the Monetary Base through the money creation process.
naively, this resembles "debt laundering", as Money flows
central bank ---> bond market ---> Government ---> economy (GDP = C+I+G+NX)​
direct debt monetization would be
central bank ---> bond market ---> Government ---> economy (GDP = C+I+G+NX)​
i.e. Fed policy amounts to "monetization, with a few back-flips first". If "everybody knows anyway", then "what is the big deal" with simply "telling it like it is", i.e. 'monetization' ? ("arguments over semantics, on USMB, won't affect Chinese lending policies")
 
European debt crisis splashback on American business...
:eusa_eh:
European financial crisis has ripple effect on U.S. businesses
3 Aug.`12 - Disppointing revenue for top U.S. brands has heightened Wall Street concerns about the health of American business.
The newest Apple store in Spain, like its counterparts in other parts of the world, is designed to draw you in. Stone floors, glass doors, and rows of blond wood tables stocked with scores of gleaming iPhones, iPads and MacBooks as far as the eye can see. On a recent weekday afternoon, the cavernous showroom was missing only one thing: customers. Only a handful were scattered throughout the store — and most were just browsing. “I would have liked to buy lots of things, but I have no money,” sighed Nacho Corral, a 37-year-old government worker whose salary was recently cut 7 percent along with those of other civil servants.

The eerie emptiness of the store, in an upscale shopping mall in Madrid, is an indicator of the growing severity of the impact of the European financial crisis on U.S. companies. In the latest series of earnings announcements from U.S. corporations, top American brands such as Whirlpool, Ford, General Motors, Starbucks and Apple have reported disappointing revenue because of Europe’s troubles. These results, over the past two weeks, have heightened concerns on Wall Street about the health of U.S. business.

The ripple effects of the European financial crisis, like its roots, are complex, but the impact on European consumers may be one of the easiest things to understand. As unemployment rates have soared — to a high of 11.2 percent in the euro zone as of Tuesday — consumer spending has plummeted. Surveys show that many Europeans, regardless of whether they have a job, have become increasingly uncertain about their economic future and are holding off on purchases of big-ticket items such as cars and appliances as well as splurges such as tech gadgets or an extra cup of coffee.

Their reluctance to spend has become a drag on U.S. corporate profits and a problem for President Obama as he seeks to keep the American economy growing in the run-up to the November election. Adding to the unease was the announcement Thursday by Europe’s top central banker, Mario Draghi, that he wasn’t ready to take new steps to address the euro zone’s escalating debt crisis. While Draghi, president of the European Central Bank, said he was preparing to take new measures for the future, the lack of action caused stock markets on both sides of the Atlantic to fall, with the Dow Jones industrial average losing about 0.7 percent.

Losses for manufacturers
 
We still have somewhat higher economic growth prospects than Europe. Even though we're growing at just 2%, it's better than 1% or Zero like it is in Europe. We also have a stronger federalist system than Europe, meaning our ability to respond to a problem would at least happen in Uniform unlike Europe where you have many countries all with their own Fiscal Budgets. Oh, and the fed. :/

2% is just sooo last month!
(W-ky resurrected this thread..........not me...........).
 

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