Thread: The strongest economy in the world

No problem. Just print more money and give it away to the needy.
That way they can spend more and get the country back on its feet again. Or so the financial wizards are telling us.

Despite the imminent collapse of the US and world which some seem to think is happening, there are programs like this supplying the US with labor. These people are still going to the US to work through programs. Okay it's small money but the programs haven't been cancelled.

Global-X à»Ô´ÃѺÊÁѤà ¼Ùéà¢éÒÃèÇÁâ¤Ã§¡Òà Work and Travel Program in USA áÅÐ Internship Program

Corporate America saves a few bucks and others make money off the students.
Why is it that these programs are still sending workers if there is no work?Students are leaving in two weeks to work all across the US in hotels, restaurants, amusement parks, and in some cases even for the government in national parks. They pay a bit to go but get paid for the job they do when they get there.

Originally Posted by Milkman

Originally Posted by Panda

When the $US crashes....

There are quite a few economists predicting a significant decline of the US Dollar.

When do you think this will happen, Panda?

Strange. The greenback is up against the C$ again. Obviously, the US is our biggest trading partner, so I put our loonie's fall down to that.

Actually, the Japanese Yen has increased in value against every major currency including the $US over the past 5 months. And Japans economy being export dependant is not in good shape at all, though they do have massive financial reserves.
You know the world economy is off the rails when people start pulling their investments out of production and putting it into paper money for safe keeping.
This is just stage one of the melt down. Keep an eye on gold prices. Thats where the money will be going next.

^ Hek, gold is already up bigtime. Agree about Japan.

An interview about banks. Oligarchy:

Excerpts from the 2 hours special on CNBC titled House of Cards which aired on Feb 12th... This documentary provides some insight into the Sub Prime debacle and how it spun up out of control without oversight...

There's clip of Rick Santelli going nuts on CNBC which is pretty interesting. He's got some points but I say fuck him in blaming Obama for all the woes at the moment. they have been coming for along time. He has a nice house which he built with the US casino scheme going on all these years. I understand his points and can agree with some of it but he really should take a look at his own greedy self. Anyways the US will probably crash into anarchy in the future. It might be time to buy a gun. Of course, there are those who say nothing is wrong. All this negative news is just a democrat scam. I guess Rick has nothing to complain about. It's all his imagination.

Video - CNBC.com

The whole mess was triggered by individuals borrowing more than they could ever hope to repay on mortgages.
And the US federal government has been doing the same for years.
Creating wealth out of thin air without working for it may work in the short term, if the scam is set up well enough, but its unsustainable long term. In the end somebody has to cover the debt. It ain't rocket science.

Right now the US federal government is trying to keep the banks solvent by giving them money which the government itself is having to borrow and has no hope of ever repaying at present exchange rates. Its just an even bigger scam to cover the last scam, and like the banks, the ones lending the money to the US government and investing in $USs will end up being the ones out of pocket. Not that I can blame the US government for trying it on if there are enough fools in the world to pump their money into it.

Looking at the Gold price that some of you have predicted would be a sign of the start of the Dollar downfall, today Gold briefly hit a all time ( 20 year) high and have been steadily rising the past month ??

24-hour Spot Chart - Gold




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HISTORICAL DAILY GOLD CHARTS January February March April May June July August September October November December 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999

Originally Posted by larvidchr

Looking at the Gold price that some of you have predicted would be a sign of the start of the Dollar downfall, today Gold briefly hit a all time ( 20 year) high and have been steadily rising the past month ??

The exit out of the $US into gold hasnt happened yet, but gold does seem to be pulling ahead slightly at the moment.

Investors are a bit like cattle, when the herd turns it can cause a stampede.

Sorry Panda not a 20 year high (relatively close though) I looked at another chart and got it wrong, but the trend is there going up up up. It is very interesting (scary) and i try to follow the developments and thanks to some of you guys here get some very good and interesting info.

Its hard to put things in their true perspective when there are so many relative adjustments to be made. Eg: gold has risen in value in most countries recently much faster than that shown in the charts because it is priced in $USs, and $USs have also risen sharply in value. And then to get an historical perspective we need to look at the true value in todays dollar value rather than just raw numbers. It can all be a bit confusing at times.

Says it all, really. Would we have this depression if ChimpyMcHitlerHalliburton or McCain were in office? Fuck no...

I believe Glenn Beck has the knowledge of a 10th grader in high school. But below he has some trend analysts, WSJ people, and former top official from the CIA talking about potential scenarios.

I'm not sold on these scenarios, but it's possible.

What is your opinion? Thoughts and comments?

Part 1:


Part 2:


Part 3:

Secretary of State Clinton goes to China to basically say, "please, please, keep loaning money buy buying our debt."

Feb. 22, 2009

Clinton Urges China to Keep Buying U.S. Treasury Securities

Secretary of State Hillary Clinton urged China to continue buying U.S. Treasury bonds to help finance President Barack Obama’s stimulus plan, saying “we are truly going to rise or fall together.”

“Our economies are so intertwined,” Clinton said in an interview today in Beijing with Shanghai-based Dragon Television. “It would not be in China’s interest” if the U.S. were unable to finance deficit spending to stimulate its stalled economy.

China boosted purchases of U.S. debt by 46 percent last year to a record. The Chinese government said last week it plans to keep buying Treasuries, adding that future purchases will depend on the preservation of their value and the safety of the investment. China’s currency reserves of $1.95 trillion are about 29 percent of the world total.

Chinese attempts to diversify from Treasuries into more risk-oriented assets have not fared well. It has lost at least half of the $10.5 billion it invested in New York-based Blackstone, Morgan Stanley and TPG Inc. since mid-2007.

http://www.bloomberg.com/apps/news?pid=20601087&sid=apSqGtcNsqSY&refer =worldwide

And here is an important side-note:

Published: January 8, 2009

U.S. debt is losing its appeal in China

China has bought more than $1 trillion in American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at home - a shift that could pose some challenges to the U.S. government in the near future but eventually may even produce salutary effects on the world economy.

At first glance, the declining Chinese appetite for U.S. debt - apparent in a series of hints from Chinese policy makers over the past two weeks, with official statistics due for release in the next few days - comes at an inopportune time. On Tuesday, the U.S. president-elect, Barack Obama, said Americans should get used to the prospect of "trillion-dollar deficits for years to come" as he seeks to finance an $800 billion economic stimulus package.

U.S. debt is losing its appeal in China - International Herald Tribune

^ NOTE: this video is a nutshell of the 2 above articles. (This video is also on the Glenn Beck thread.)

Some Mod should merge the above Glenn Beck material over to the GB Thread?

Cheers!

btw, GB might not be the sharpest pencil in the drawer but he does raise very salient points and, as said, he gets folks on his program who do have their shit together.

Originally Posted by Boon Mee

Some Mod should merge the above Glenn Beck material over to the GB Thread?

Cheers!

Nice joke.

I said when I posted it that I was posting both there, and in this thread.

Both are related.

It's 1. about GB's simple childishness, and 2. about the US economy.

btw, GB might not be the sharpest pencil in the drawer but he does raise very salient points and, as said, he gets folks on his program who do have their shit together.

True, he's not the sharpest tool in the shed, but he does educate some of the masses about current events - sometimes.