I thought that is what it was currently based off! Hope China doesn't find out!!!
-bcreager
-bcreager
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Re: the end of the dollar era [Mr. Tibbs]
[ In reply to ]
Re: the end of the dollar era [Mr. Tibbs]
[ In reply to ]
nope. Read the article. Argue with them, not with me. Do you have any rebuttals of their arguments ? If so, please present them. I don't know of any.
Argue with these guys too:
http://www.openlettertothepresident.org/
500 or so economists, whose educated professional opinions might signify something more than mere anti-Bush feeling.
Argue with Mr Greenspan:
http://money.cnn.com/2004/11/19/news/economy/fed_greenspan/
"the causes of the weak dollar -- the U.S. trade deficit and the federal budget deficit"
Guess who's responsible for these deficits ?
Abuse me as much as you like, it won't change the reality. Remember reality ? It's coming back, and it's pissed..
"It is a good feeling for old men who have begun to fear failure, any sort of failure, to set a schedule for exercise and stick to it. If an aging man can run a distance of three miles, for instance, he knows that whatever his other failures may be, he is not completely wasted away." Romain Gary, SI interview
Argue with these guys too:
http://www.openlettertothepresident.org/
500 or so economists, whose educated professional opinions might signify something more than mere anti-Bush feeling.
Argue with Mr Greenspan:
http://money.cnn.com/2004/11/19/news/economy/fed_greenspan/
"the causes of the weak dollar -- the U.S. trade deficit and the federal budget deficit"
Guess who's responsible for these deficits ?
Abuse me as much as you like, it won't change the reality. Remember reality ? It's coming back, and it's pissed..
"It is a good feeling for old men who have begun to fear failure, any sort of failure, to set a schedule for exercise and stick to it. If an aging man can run a distance of three miles, for instance, he knows that whatever his other failures may be, he is not completely wasted away." Romain Gary, SI interview
Re: the end of the dollar era [doug in co]
[ In reply to ]
interestingly enough....greenspan seems to be singing a different tune lately. Wasn't it about 6 months ago he was telling people to move to adjuster rate loans, as opposted to fixed.
Really boils down to what you think about the Federal Reserve. Do you really think a "group" that is self governed and has no checks and balances is looking out for the good of anyone but themselves. I tend to take anything greenspan says with a grain of salt.
-bcreager
Really boils down to what you think about the Federal Reserve. Do you really think a "group" that is self governed and has no checks and balances is looking out for the good of anyone but themselves. I tend to take anything greenspan says with a grain of salt.
-bcreager
Re: the end of the dollar era [bcreager]
[ In reply to ]
Wasn't it about 6 months ago he was telling people to move to adjuster rate loans, as opposted to fixed.
Yes, at the same time he was saying interest rates were as low as they were going to get, and would be rising soon.
Hey, that sounds like a good time to get an adjustable rate loan to me. Ah ha ha ha ha ha!
"People think it must be fun to be a super genius, but they don't realize how hard it is to put up with all the idiots in the world."
Yes, at the same time he was saying interest rates were as low as they were going to get, and would be rising soon.
Hey, that sounds like a good time to get an adjustable rate loan to me. Ah ha ha ha ha ha!
"People think it must be fun to be a super genius, but they don't realize how hard it is to put up with all the idiots in the world."
Re: the end of the dollar era [Kevin in MD]
[ In reply to ]
Kevin, I wish that were true, but there is a much loved feature about capitalist economies. That is they like to grow. If the economy doubles, the amount of money in circulation needs to double or you are going to bring your economy to a screeching halt.
Gold isn't going to get you there.
The real backing of the currency is not some collection of minerals in a vault somewhere, but the assets of the society. I include its factories, its infrastructure, and, in the modern world, its intellectual property. Take away our buildings and our roads and our utilities and the economy collapses regardless of how much metal is in the vault.
As Milton Friedman used to say, basing your money on gold makes about as much sense as basing it on pork bellies.
Gold isn't going to get you there.
The real backing of the currency is not some collection of minerals in a vault somewhere, but the assets of the society. I include its factories, its infrastructure, and, in the modern world, its intellectual property. Take away our buildings and our roads and our utilities and the economy collapses regardless of how much metal is in the vault.
As Milton Friedman used to say, basing your money on gold makes about as much sense as basing it on pork bellies.
Re: the end of the dollar era [ajfranke]
[ In reply to ]
Not too sure about all that, the world's economy lasted a very long time (until 1971) with a gold backed currency.
I realize that Dr. Friedman was having a bit of fun, but we can consume Pork Bellies. Much of the world's gold is still around and kept track of.
I realize that Dr. Friedman was having a bit of fun, but we can consume Pork Bellies. Much of the world's gold is still around and kept track of.
Re: the end of the dollar era [doug in co]
[ In reply to ]
"whose educated professional opinions might signify something more than mere anti-Bush feeling."
I wasn't talking about the article. I was talking about you.
customerjon @gmail.com is where information happens.
I wasn't talking about the article. I was talking about you.
customerjon @gmail.com is where information happens.
Re: the end of the dollar era [Mr. Tibbs]
[ In reply to ]
It's not a cheap shot if it's verifiably true. It IS a clown show - though in truth rather on the tragic side than the comic. All across the world, serious economists are agape not to say agog at the Bush Follies.
I don't have to look for cheap shots either. Any of the Bush policy initiatives would do. In these days satire and the news converge. The Onion's headline when Bush was first 'elected' was prophetic: "At last, our long national nightmare of peace and prosperity is over".
I don't hate Bush, just his policies. He may not be as evil as he appears.
--
"I've got a madman of my own to contend with / cursing in the cave of my skull" Mike Scott
I don't have to look for cheap shots either. Any of the Bush policy initiatives would do. In these days satire and the news converge. The Onion's headline when Bush was first 'elected' was prophetic: "At last, our long national nightmare of peace and prosperity is over".
I don't hate Bush, just his policies. He may not be as evil as he appears.
--
"I've got a madman of my own to contend with / cursing in the cave of my skull" Mike Scott
I was just thinking about this thread last night doug. Have you noticed that the dollar has rallied, and the price of gold and oil have plunged over the last couple of weeks?
Have you reconciled your prediction of the demise of the dollar with your belief that SS is secure because the trustees have government bonds in the "trust fund." I can't figure out how both can be true. It seems you should pick one or the other.
I guess there is one advantage of being old, fat and slow. I have seen all of this before and the future course is very predictable.
Hmm, I guess I could be old, skinny and fast and still know that, but we do what we can.
Have you reconciled your prediction of the demise of the dollar with your belief that SS is secure because the trustees have government bonds in the "trust fund." I can't figure out how both can be true. It seems you should pick one or the other.
I guess there is one advantage of being old, fat and slow. I have seen all of this before and the future course is very predictable.
Hmm, I guess I could be old, skinny and fast and still know that, but we do what we can.