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Basically lumbollo what you are saying is that "this time its diffferent" in terms of what's worked for many years will not work in the future.....
It is different because the problems that caused the recession in the first place are not being addressed and the solutions they are using are going to make the problem worse.
Our economy won't be fixed until someone stands up and tells American in general what they are going to have to give up to make it work. There is no one brave enough to do this so instead we have absolutely huge sums of money being borrowed to keep the "economy" going. We have not had anything similar since the late 1920s.
It is different because the problems that caused the recession in the first place are not being addressed and the solutions they are using are going to make the problem worse.
Our economy won't be fixed until someone stands up and tells American in general what they are going to have to give up to make it work. There is no one brave enough to do this so instead we have absolutely huge sums of money being borrowed to keep the "economy" going. We have not had anything similar since the late 1920s.
Eventually, you will have enough resistance to what's going on in Govco (the election results from yesterday were the 1st real wakeup call) that some of these policies will be reversed. Hoping that health care really doesn't pass & the '10 elections will be a true referendum.
Anyway, I don't get worked up over the current situation. We had years like 1932, 1975, 1982, 1990, 2000, and 2008) where many people thought "its different this time", but it was just like every other extreme business cycle.....its really not different IMO. just my .02
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Anyway, I don't get worked up over the current situation. We had years like 1932, 1975, 1982, 1990, 2000, and 2008) where many people thought "its different this time", but it was just like every other extreme business cycle.....its really not different IMO. just my .02
Oh it's nothing to get worked up over unless you are one of the poor unfortunates that loses their job over it or you are trying to sell a house. It's a situation that is to be taken advantage of and if you have an understanding of what is happening to the dollar on a global basis because of it's shaky status of being a reserve currency, the rise in the gold that has been going on for 10 years now makes a lot of sense.
Oh it's nothing to get worked up over unless you are one of the poor unfortunates that loses their job over it or you are trying to sell a house. It's a situation that is to be taken advantage of and if you have an understanding of what is happening to the dollar on a global basis because of it's shaky status of being a reserve currency, the rise in the gold that has been going on for 10 years now makes a lot of sense.
Please don't think I am downplaying the mess we're in now, but we had a worse situation in terms of unemployment back in the '82 recession. Many who were in the workforce at that time were in dire straits, but we picked ourselves up eventually. Yes, I understand that the way we are trying to pick ourselves out of this is not the best way, but eventually whether its through grass roots revolt, or just through the polls, I think the message will get through.
Yes, the dollar is on shaky status, but there is no guarantee that it will become worthless or physical gold will continue to deliver astronomical gains. People who haven't got in on it yet CAN try to jump on the runaway train, and might make a few bucks, but you never know.....
'82 recession has nothing to do with what is wrong now. That recession was caused by high oil prices. They fixed it by making deals in the middle east to turn up the oil taps. (one notible example was the handshake deal between none other than Donald Rumsfield and Saddam Hussein) This recession is quite different because we have since wholesale exported our wealth making part of the economy off-shore and have replaced it with the illusion of wealth created by endless borrowing. High oil tipped it over last year, exposed the real issue and they fixed it by borrowing more.
Our answer to an economy destroyed by too much borrowing: More borrowing and easy credit. It's speaks to an insanity that even Hollywood would not put to a script. You don't have to believe me, the rise of gold speaks for itself and it isn't caused by the few proof and bullion coins being minted at West Point.
If you look at our debt in relation to GDP, this is NOT the worst it has ever been.
There is an economic princile that says that the response to recession is expansion. The government can do 2 things to help this expansion. Increase spending or cut taxes. More money gets to the economy through govt spending. If taxes are cut, some will be spent but some will be "saved" and that does diddly for the economy.
You may not like it but it is what it is. That's how our economy operates.
'82 recession has nothing to do with what is wrong now. That recession was caused by high oil prices. They fixed it by making deals in the middle east to turn up the oil taps. (one notible example was the handshake deal between none other than Donald Rumsfield and Saddam Hussein) This recession is quite different because we have since wholesale exported our wealth making part of the economy off-shore and have replaced it with the illusion of wealth created by endless borrowing. High oil tipped it over last year, exposed the real issue and they fixed it by borrowing more.
Our answer to an economy destroyed by too much borrowing: More borrowing and easy credit. It's speaks to an insanity that even Hollywood would not put to a script. You don't have to believe me, the rise of gold speaks for itself and it isn't caused by the few proof and bullion coins being minted at West Point.
I don't disagree w/you on what the problem is. I disagree w/you when you say "its different this time" meaning that the dollar is finished and gold will not come back to its historical levels. I just look at this as another business cycle (like high inflation in the 70's). People back then thought the world would end (cmon you people who remember those times well, speak up). Those that were invested in the market back in 74-75 thought things would never get better....but they did.
Yes, times are bad in alot of ways right now, but the american people will revolt if things get too far to one extreme (left or right) either way.....it always happens.....
I think we are just repeating ourselves in this thread...that's the way it feels like to me...
. I disagree w/you when you say "its different this time" meaning that the dollar is finished and gold will not come back to its historical levels. ....
Except that you don't seem to realize or are ignoring that the dollar in use today, the Federal Reserve Note, has only been in existence in terms of general currency since the 1930s. FRNs are completely different from the Treasury notes and the certificates that are also dollars but not in circulation now. Certificate dollars were invalidated in 1968 though still usable as FRNs, and they stopped releasing Treasury notes in 1971 though they are still valid. It was the last move to give the Federal Reserve, a private company, complete control of the US money supply.
FRNs are private currency though it has been deemed legal tender and if they fail, it's not the end to everything, but a big shakeup none the less. The reason that it is different this time is because the issues revolve around this very system. I am not so sure about American's standing up and taking a stand these days. It sounds nice, but I think it has little to do with this. The USA can revert back to Treasury dollars but it brings with it a whole host of inconvienent Constitutional restrictions. (Constitution specifics don't apply to private money, aka FRNs)
In any case, this isn't a case of predicting armageddon as I don't think that will happen. Without the background on the differnent money systems in use both now and historically, the argument of holding a certain amount of your wealth in coinage is pointless so I won't make it as it is beyond this topic. However gold is up 10% in just the last couple of months and this is due in part to this.
Eventually, you will have enough resistance to what's going on in Govco (the election results from yesterday were the 1st real wakeup call) that some of these policies will be reversed. Hoping that health care really doesn't pass & the '10 elections will be a true referendum.
This has nothing at all to do with which half of the one-party system is currently in power. Our economy is in the toilet because Americans, as a whole, spent years living beyond their means and it finally came back to bite us all in the butt - whether we were one of the responsible ones or not. No public policy can truly fix our economy - the only true fix can happen when we, as a society, start living within our respective means. And that is never going to happen.
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