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Old 12-03-2012, 10:28 PM
 
Location: Ohio
22,587 posts, read 15,775,598 times
Reputation: 19111

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Quote:
Originally Posted by the_windwalker View Post
The "too big to fail banks" don't have to fail.
Uh, it was a joke -- meant for the people who post in this section who are knowledgeable about Economics and who also know the OPs original moniker was Spamwad, or wait, Tightwad, I think before he was allowed to change it.

Go find the thread, read it, and then you'll get the joke. The idiot morons at Economicbarfbag predicted certain banks (who were not failing and did not fail and were not bailed out) would collapse 4th Quarter 2010.

This is 4th Quarter 2012....everyone is still waiting.....just like we're still waiting for the economy to collapse and the US Dollar to disappear and the USS Enterprise to launch its aircraft in an attack on Iran and hyper-inflation and Queen Elisabeth to reveal she is a man and about 5,000 other predictions that all failed. Oh, sorry, I don't think it was the ecomoronicbarfbag that made the Queen Elisabeth prediction.

The sky is very dark, but it is not falling, in spite of the fact that based on economicbarfbag a McDonald's cheeseburger should cost about $650 Billion right now due to "hyper-inflation."

There are many free economic journals on the web you can read; as well as individual economic web-sites/blogs and also there are many knowledgeable people here on C-D, and while we might disagree on the mechanics from time-to-time we're all pretty much in line with the core principles, and they are all level headed people (except me -- my head is caved in on one side).

Necromancing the Dollar...

Mircea
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Old 12-04-2012, 04:19 AM
 
4,281 posts, read 3,143,412 times
Reputation: 2704
Quote:
Originally Posted by the_windwalker View Post
Correction.... WE WERE THE WORLD'S LEADING ECONOMY.

China's economy is actually growing pretty fast. While we've been waving our flag and pronouncing that "WE'RE NUMBER ONE", China has not been sitting back on it's haunches. And, we've been playing right into their hands. Look at how many of the things we buy that are made in China, especially the high-tech items like I-pads. American State-of-the-Art Technology, imported from China. Indeed.

But, don't take my word for it. Read it for yourself. This was on MSNBC.

China overtaking US as global trader

And, as for the US Dollar, by printing money as we come up short, we devalue the dollar. For decades it has been used as the "World Reserve Currency". Countries around the world trade it for debts and hold it to back up their own currency. As we devalue the dollar, it becomes less and less attractive for that purpose. The more money we print, the more value they lose in the US Dollars they have held in reserve. Prior to the 1950s, the British Sterling was the standard. Then, it was our turn and we're working on losing that. When we are no longer the world standard, our costs will spike. Very likely, we'll be looking at another "great recession", just like the one England went through in the '50s when they were replaced. Possibly a depression.

So, if you just stay on the bleachers, waving the flag and chanting "WE'RE NUMBER ONE", you'll be chanting yourselves right into the poor house, while someone else sneaks by you. And, "business as usual" in Washington is one of the major reasons we're slipping so badly. But, we help them along every time we buy something that's not made in America. We've got a long way to go in order to get back to the top, and stay there. You need to open your eyes, get your butts off the bleachers, and get into the game.
While I agree with the premise of remaining on top and bolstering our competitiveness, China has more than their share of problems and economic woes:

*100 million people living on less than $1.25 a day.
*China borrowed heavily against inflated real estate values just like everyone else.
*The Chinese government is notorious for the inaccuracy of its economic statistics.
*It is much easier for a developing economy to grow, than a developed economy.
*Widespread corruption in both the government and private sector, makes the US look like a monastery.
*A lack of innovation and high tech prowess.

China's economy only produces approximately $8500 per person and the US produces $48,000 per capita. Both are major trade partners. Hence, China's economic success benefits the US and vice-versa.
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Old 12-04-2012, 12:41 PM
 
7,479 posts, read 4,355,917 times
Reputation: 7011
Quote:
Originally Posted by Grandpa Pipes View Post
"By recklessly printing, borrowing and spending money, our authorities are absolutely shredding confidence in the U.S. dollar. The rest of the world is watching this nonsense, and at some point they are going to give up on the U.S. dollar and throw their hands up in the air. When that happens, it is going to be absolutely catastrophic for the U.S. economy."

The Giant Currency Superstorm That Is Coming To The Shores Of America When The Dollar Dies
You don't understand the dollar or the currency system of today.

k thx bai
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Old 12-05-2012, 12:02 AM
 
48,508 posts, read 88,059,605 times
Reputation: 18187
Look at all thsoe thigns being sold on the Op site.Bet they want US dollars for them too.
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Old 12-06-2012, 12:38 PM
 
621 posts, read 593,001 times
Reputation: 265
Quote:
Originally Posted by Mircea View Post

So, when are the "too big to fail banks" going to fail?
Financial, Real Estate, Stock Markets Trends and Current Affairs


This person has done some first rate research into the banking system in the US.


Secrets Of The Plunge Protection Team
The plunge protection team is actively manipulating the stock market. The too big to fail banks will fail when the plunge protection team fails to keep their stock prices artificially high. Let the market do what it will and they would have failed by now.


In the first Q of this year there was a CNN news blip that I caught. It said the there was an expected rally coming in the Dow and that it was going to be lead by the financials. There was a subsequent rally lead by the financials. I believe that this was the result of actions of the plunge protection team manipulating the stock prices.


The US economy has some structural problems that need to be addressed. That the world is also in bad shape doesn't change this. That the US is perceived as being relatively stronger doesn't change its underlying weaknesses. Balancing debt and income needs to happen. There is a lot of bad debt out there. Write it off and the big banks will fail. Inflate it away and they wont.


So when are the “too big to fail banks” going to fail?


When the ability of the Fed to prop them up fails.
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