This is not good news....

[Immanuel]

Has there REALLY BEEN an enormous increase in the DOLLARS in existence?

I ask because it is clear that many of you believe this to be the case. Most of you also think that is the effect of the FED purchasing Bonds.

I'm not seeing this enormous increase in the total specie.

If I have missed it, I'd appreciate someone showing me those statistics.

I'd prefer they show me the money and put a large portion of it in my checking account.

Immie

 

[Immanuel]

You assume too much. I never started this thread with the intention of "solving" the problem.

Not directly atleast.

My original intention was to attack the leftist degenerates in washington who are doing damage to the dollars value by printing money. You can't sit here and tell me with a straight face that printing trillions of dollars to "prop up" an economy is doing any good.

Actually, he could. And he would be right. Our economy depends on the circulation of money, and the liquidity provided to banks helped free up credit, and keep things moving. The classic mistake of the great depression was the (initial) reluctance of government to get involved and spend some money to get things back on track. The great economist JM Keynes described this, and his theory was proven by subsequent actions. FDR was brutalized for suggesting even modest social programs and interventions in the economy. But when the biggest "intervention" one could imagine came along (WW2), with over the top spending, and a vast recruitment for government jobs, the depression was over within months- and it didn't return.

A trillion may seem a lot, but his sort of money flies about the world every minute today. The world bond market alone is worth about $80 trillion. Where Obama could have done better, IMHO, would have been to distribute more directly to workers, who would have spent it to greater effect than some large corporations are doing right now.



Actually, the stimulus has helped. We've avoided a '30s style meltdown. And the US dollar is doing fine. It has not sunk in relation to other major currencies, and there is a healthy appetite for US treasury bills.

I'm inclined to believe that you're nothing more than a kool-aid drinking shill with an opinion worth that of a pile of bird shit.

I agree. I've posted before that things are better now than they were around election time 2008 when everything seemed in free fall. Republicans think Obama is a disaster but do they really know that a republican would have done better? Austerity used in bringing economies out of recession doesn't have a very good track record so far.

Two can play at that game. Do you really know that things would not have been better if someone else had been elected and we were not saddled with this disaster called Obamacare? No one can say for sure what would happen IF.

Immie

 

[Rozman]

Well...there's only so many nursing or engineering or accountant jobs available.

Pushing everyone into college was a bad idea. Now we have millions of people with degrees and only enough jobs to employ 10% of those people.

This "Educated Society" idea was a stupid idea. Pun not intended.

I don't have a college degree so I certainly feel the pressure out there and it's tough finding work. Skilled trades are IMO going to be the only way to guarantee people success, because there's enough of those kinds of jobs to go around.

Secondly, if this government passes amnesty we are done for. That instantly gives tens of millions of people the right to work jobs americans "do" want. No more mexicans mowing grass or working contruction. They'll be competing with us for those jobs that we want.

They better not pass this amnesty. If they do, then heads will roll.

Literally.

Pushing everyone into college was a bad idea. Now we have millions of people with degrees and only enough jobs to employ 10% of those people.

My problem is not so much with people who go into debt with student loans and they go and get a degree... so far so good....

But what these people getting degrees in exactly?
Liberal Arts?
Advanced Puppetry?
Masters degree in Poetry?

Many High School Grads were told to get that College Degree but were shit students
in HS and don't have the chops to get the real good degrees that would have done
them well in the real world.

Tons of government/taxpayer student loans wasted on kids that now have degrees and have trouble getting a job at Mickey D's

 

[oldfart]

You assume too much. I never started this thread with the intention of "solving" the problem.

I apologize. I assumed that you were interested in a discussion of what might improve the country as you seemed quick to assign blame regarding quantitative easing. Silly me. You only wanted to gratuitiously insult existing policy while evading any discussion of alternatives.

My original intention was to attack the leftist degenerates in washington who are doing damage to the dollars value by printing money. You can't sit here and tell me with a straight face that printing trillions of dollars to "prop up" an economy is doing any good.

I know there is an economic argument in the neighborhood of this topic, and I tried to steer you toward it, but you resolutely refuse to add any facts or reasoning. Precisely why do you believe that quantitative easing has created inflation? So far your argument seems to be that we can get rid of the BLS because you "know" inflation is happening and that this is magically the result of the Fed actions. Is there more to your position?

I'm inclined to believe that you're nothing more than a kool-aid drinking shill with an opinion worth that of a pile of bird shit.

No, as you noted I am a trained economist who is expected to provide facts and reasoning to support positions I take. You claim that due to willful ignorance you are under no such obligation. We should believe you because of your.........your.......what was it again that made your posts authoritative?

 

[oldfart]

Has there REALLY BEEN an enormous increase in the DOLLARS in existence?

I ask because it is clear that many of you believe this to be the case. Most of you also think that is the effect of the FED purchasing Bonds.

I'm not seeing this enormous increase in the total specie.

If I have missed it, I'd appreciate someone showing me those statistics.

No, you are correct. About $1.2 trillion of the infusion is sitting in excess reserves of banks at the Fed, earning a princely rate of interest of 0.25%. If banks lent it out, it would increase demand for specie but they haven't. So we have a finance sector awash in cash and a tepid recovery.

And you have excellent instincts to wonder where the money from the OMO went to!

 

[oldfart]

My problem is not so much with people who go into debt with student loans and they go and get a degree... so far so good....

But what these people getting degrees in exactly?
Liberal Arts?
Advanced Puppetry?
Masters degree in Poetry?

Many High School Grads were told to get that College Degree but were shit students
in HS and don't have the chops to get the real good degrees that would have done
them well in the real world.

Tons of government/taxpayer student loans wasted on kids that now have degrees and have trouble getting a job at Mickey D's

I'm not as down on liberal arts as you appear to be, but I agree with the general point. As I see it, there are two problems here. First we have too many students who see no connection between their education and what they will do to earn a living. An English major who wants to write the Great American Novel and fails is more logical to me than the English major who graduates without a clue as to what to do. Hell, we graduate plenty of business majors who want to launch startups immediately and fail. But to have no idea about career or job prospects is really lame.

Second, too many students are unconcerned about what they learn. They live in a world of grades rather than a world of skill sets. I am appalled by the number of students, often from prestigious colleges, who have poor communication skills, cannot write effectively or reason cogently, and have no exposure to the body of knowledge (in sciences, math, and yes, humanities) that constitute the body of knowledge that used to be called a general university education.

The truth of the matter is that how well you do at any level of education only has relevance at the next level in getting your foot in the door. Nobody gives a shit how bright you were in high school once you get to college; you are judged on your performance in college classes. High school GPA means nothing if you can't write in college. And all of that college education is ancient history after six months on the job. You sink or swim based on your ability to perform. So the problem I see is the number of graduates with degrees and no apparent skills in anything.

 

[justme335]

Obama needs to come clean. Him and his democrat dregs need to stop misleading people by going around championing their job creation numbers, because those jobs are all part time and pay minimum wage.

Well it looks like the whole employment is shifting to under-employment or part time jobs, what you are saying is probably true, but it doesn't only apply to youth employment but the overall employment in the United States