F**K Me! How many of you Yanks knew this?

[Toro]

The death of the greenback is highly exaggerated.

However, the government is actively devaluing it, and the falling dollar will take all fiat currencies down with it.

 

[Midnight Marauder]

bush was cutting taxes for the rich

Another lie.

 

[jillian]

And why were you determined to troll this thread into this subject just b/c of an offhand reference on my part?

What ******* difference does it make? You don't have to reply to my posts.

Adding some substance to what you term a "troll thread" isn't a bad deal. I reserve the option to correct partisan bullshit wherever I see it.

and yet another misstatement... i didn't say "troll thread"... I said YOU trolled the thread... for some incomprehensible reason.

and i said something because the topic of the thread actually was interesting.

 

[The Rabbi]

Back on topic.

1) Is it better to let the dollar slide so you can pay off your debt more quickly and be more competitive with exports and pay higher oil prices; or
2) Keep the dollar strong?

I think there is an argument for the former because it will lead to the latter eventually anyway.

Let the dollar go, let US go to second class statehood. You and others will agree, the world will be better off. Perhaps the US will be too.

you should have thought about the second-class statehood thing when bush was cutting taxes for the rich while running a two-front war of choice.

You mean when Bush was creating 7 years of increasing GDP and protecting the US from enemies foreign and domestic?
Checked the value of the Euro against the dollar over the last 8 years?

 

[jillian]

bush was cutting taxes for the rich

Another lie.

YAH...sure... it was pretend that he cut taxes for the top 1%...

yep...

you know he was the only leader IN HISTORY to cut taxes during wartime, right?

know why?

because government has to pay for the wars it wages.

 

[Dr Grump]

Unbfortunately (for your argument) that isn't how the federal system works.
And imagine the hue and cry if Bush had just sent people to NO without the request of the governor. It would be "Pres Bush tears up the Constitution!" all over again.
The left will not let Bush win. Fortunately his reputation will improve over time, just as Truman's did.

Actually, I reckon if Bush has acted quicker and taken the hits, then yes, over time, his rep - in this case - would improve. As for an improvement overall? Doubtful. He is still, IMO, the worst president the US has ever had, bar none - and that includes Arthur and Harding...(IMO)

 

[jillian]

The death of the greenback is highly exaggerated.

However, the government is actively devaluing it, and the falling dollar will take all fiat currencies down with it.

is that a good thing? or a bad thing?

 

[Dr Grump]

You mean when Bush was creating 7 years of increasing GDP and protecting the US from enemies foreign and domestic?
Checked the value of the Euro against the dollar over the last 8 years?

Yeah, and look at the debt it left you....

 

[jillian]

Let the dollar go, let US go to second class statehood. You and others will agree, the world will be better off. Perhaps the US will be too.

you should have thought about the second-class statehood thing when bush was cutting taxes for the rich while running a two-front war of choice.

You mean when Bush was creating 7 years of increasing GDP and protecting the US from enemies foreign and domestic?
Checked the value of the Euro against the dollar over the last 8 years?

I suppose I'd buy that if I thought for a second Bush's policies protected us from anything. Instead I think they endangered us. Go figure....

As for the Euro? The dollar has been bad against the Euro for a while now.

 

[The Rabbi]

The death of the greenback is highly exaggerated.

However, the government is actively devaluing it, and the falling dollar will take all fiat currencies down with it.

is that a good thing? or a bad thing?

Why are you even posting here when you don't have a clue what you're talking about?
Does Argentina mean anything to you? Weimar Germany? Zimbabwe?

 

[Midnight Marauder]

And why were you determined to troll this thread into this subject just b/c of an offhand reference on my part?

What ******* difference does it make? You don't have to reply to my posts.

Adding some substance to what you term a "troll thread" isn't a bad deal. I reserve the option to correct partisan bullshit wherever I see it.

and yet another misstatement... i didn't say "troll thread"... I said YOU trolled the thread... for some incomprehensible reason.

I stand corrected! But I'm trolling the thread by responding to your off-topic nonsense?

 

[The Rabbi]

you should have thought about the second-class statehood thing when bush was cutting taxes for the rich while running a two-front war of choice.

You mean when Bush was creating 7 years of increasing GDP and protecting the US from enemies foreign and domestic?
Checked the value of the Euro against the dollar over the last 8 years?

I suppose I'd buy that if I thought for a second Bush's policies protected us from anything. Instead I think they endangered us. Go figure....

As for the Euro? The dollar has been bad against the Euro for a while now.

That's why we had unremitting terrorist attacks in 2002, 2003, 2004.....2009, right? That's why al Qaeda is now a strong healthy world wide organization openly recruiting around the world, right?
The dollar has been bad against the Euro for a while? WTF? Do you have a clue? No of course not.

 

[jillian]

What ******* difference does it make? You don't have to reply to my posts.

Adding some substance to what you term a "troll thread" isn't a bad deal. I reserve the option to correct partisan bullshit wherever I see it.

and yet another misstatement... i didn't say "troll thread"... I said YOU trolled the thread... for some incomprehensible reason.

I stand corrected! But I'm trolling the thread by responding to your off-topic nonsense?

nonsense? my comment was simply an example as to why I believed government operation of something like nuclear power could be uneven....

you're the one who brought up a lot of extraneous silliness....

 

[Dr Grump]

Why are you even posting here when you don't have a clue what you're talking about?
Does Argentina mean anything to you? Weimar Germany? Zimbabwe?

You are talking hyperinflation. Devaluing the $ to a certain level is hardly catastrophic....

...and don't be so condescending....

 

[Toro]

IMO, a significant portion of the motivation for the invasion of Iraq was to prevent the USD from losing its dominance. And, it was a good idea with respect to the USD to prevent that. Sadly, Rumsfeld messed up, we spent more than we needed on that war because of that, then the homefront was mismanaged. And, now, we have even more mismanagement. I am not surprised and the sad thing is that subsequent mismanagement and inaction elsewhere has ensured that one of those (speculated) motivations for the invasion was in vain, IMHO.

That's the most idiotic explanation I've heard, and I've heard some beauts.
Saddam was in no position to do anything about the dollar. His oil was embargoed and in any case his infrastructure was damaged. He barely had the capacity to sell enough oil to keep his own country afloat.
That's a real boner of an idea.

Irrespective of your ad hominems, Hussein certainlyhad full intentions of moving from the USD. Yes, he was embargoed, but we all know how well that worked. And, as one of the major oil reserve nations in the area, his influence in the Middle Eastern oil market was nothing to sneeze at even post-First Iraq war.

Again, I remind you that I am making no claim that this USD issue was a primary reason for invasion. I am saying it was a significant consideration, though.

It is completely irrelevant. The amount of oil Iraq traded relative to the daily trading in the global currency market was less than 0.001%. All oil trading accounts for a little bit less than 1% of total global currency trading.

This is a canard.

Roughly a quarter of all trade takes place outside of the dollar already. $3 trillion of currency is traded every day. If you priced all commodities in other currencies, the US would still be the primary reserve currency because American multinationals are still by far the biggest traders in the world, and they will be paid in dollars.

 

[jillian]

That's why we had unremitting terrorist attacks in 2002, 2003, 2004.....2009, right? That's why al Qaeda is now a strong healthy world wide organization openly recruiting around the world, right?
The dollar has been bad against the Euro for a while? WTF? Do you have a clue? No of course not.

there was 7 years between the first and second WTC attacks. are you really stupid enough to think that starting an unnecessary war against a country that wasn't threatening us helped us?

the dollar HAS been bad against the euro for a while. where have YOU been? heck, while Bush was president even the canadian dollar ran equal to ours for the first time in my memory, at least.

 

[Midnight Marauder]

bush was cutting taxes for the rich

Another lie.

YAH...sure... it was pretend that he cut taxes for the top 1%...

yep...

you know he was the only leader IN HISTORY to cut taxes during wartime, right?

know why?

because government has to pay for the wars it wages.

The tax cuts were across the board, despite the bullshit you're regurgitating. And it's CONGRESS who cuts taxes Jillian, NOT the President.

THIS Congress has left the "Bush tax cuts" in place, and still two "elective wars" and tripling spending and the deficit! But I see you have no problem at all with that and aren't blaming Obama for it.

 

[Dr Grump]

That's why we had unremitting terrorist attacks in 2002, 2003, 2004.....2009, right? That's why al Qaeda is now a strong healthy world wide organization openly recruiting around the world, right?
The dollar has been bad against the Euro for a while? WTF? Do you have a clue? No of course not.

I would say not only AQ, but every other ten cent terrorist group is quite healthy now.

WTF? You think the US $ has been good against the Euro recently? Is that why bands who tour the world and highly paid actors - especially non-US actors - are having their contracts stipulate that they are to be paid in Euros, not $'s? Because the $ is so strong?? Yeah, right......

 

[jillian]

The death of the greenback is highly exaggerated.

However, the government is actively devaluing it, and the falling dollar will take all fiat currencies down with it.

is that a good thing? or a bad thing?

Why are you even posting here when you don't have a clue what you're talking about?
Does Argentina mean anything to you? Weimar Germany? Zimbabwe?

Moron, I asked HIM the question because HE is the person who knows economics better than anyone else on this board.

Unlike you....

 

[Toro]

The death of the greenback is highly exaggerated.

However, the government is actively devaluing it, and the falling dollar will take all fiat currencies down with it.

is that a good thing? or a bad thing?

I own a lot of gold, so it is good for me.

Ultimately, the US is going to inflate away much of its debt. That is good for the US government but bad for everyone who holds US debt.

BTW, the biggest owners of US debt? Not China. China is the third largest. The biggest holder of US debt are mutual funds. The second biggest is the Federal Reserve.