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More specifically, a handful of bankers controlled the printing of currency. When there friends came up with a great idea, the bankers make currency for them to pay for labor and parts. That is how America was built.
I guess I should remind all of you again that our first quarter GDP growth this year was 0.7%. That's right 0.7% after trillions and trillions of dollars was wasted and thrown into deep hole of deflation to STALE and postpone the inevitable.
How long will you folks pray for a miracle??????????????? Well let me tell you again, there is nothing we can do to make the light switch come back on unless we go thru Dark Forest of Deflation. But there are things we can do as a nation to work with this process and prepare for our rebirth after Deflation runs it's course. The job of the Deflation Season (2001-present) is to destroy bad debt, to collapse the part of the world that is build on decay (bad debt), and to reward saving so that citizens (all citizens) can successfully build wealth for the future through relatively riskless investment - and high interest rates help to ensure this.
Now some of you will argue that high interest rates deter growth. Remember: interest rates are high during the Non-Growth Season and are lower during the Growth Season. When no growth is possible, then investment growth through saving money -- and strengthening the local currency -- is necessary.
OUR CUP IS FULL
Our cup is full. We need to destroy our debt so we can start over again. This means we have to accept the DEFLATION the Fed has been spending trillions to avoid, to deny.
INFLATION is filling the cup.
DEFLATION is emptying the cup.
we need to prosecute all those corrupt Government officials and those so called economists
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Originally Posted by C2BP
Anyone that supports Federal Reserve polices and those asset bubbles of today should be prosecuted for treason and is far more dangerous to America then any threat from abroad.
Yeah! Witch hunt! Get the torches!
Quote:
Originally Posted by C2BP
How long will you folks pray for a miracle???????????????
You know you're arguing with yourself when you manufacture opinions for everyone else, it takes strawman to the professional level.
You may see the pitchforks again. That is the lesson of history.
Quote:
You know you're arguing with yourself when you manufacture opinions for everyone else, it takes strawman to the professional level.
Try to think for a minute Lieqiang. We have been lowering rates for nearly two decades, and we are still in near-recession. The global economy has not recovered. Why? The economic growth - call it the Business Cycle if you wish - period ended in 2001. The Business Cycle won't begin again, no matter what anyone does, until we allow DEFLATION or DEPRESSION to destroy bad debt.
We have stolen our kids and grandkids money, we have destroyed their future because we are bunch of COWARDS. The Fed needs the courage to raise rates no matter what it does to stock markets and property markets. We have too much debt. We need to destroy debt in order to start growing our economy again.
https://www.physicsforums.com/attach...dp-jpg.146525/
Anyone who doubts the 'bubble economics' of the FED - or what I like to call the "Viagra Economy" - needs only to look at the chart above. It took us a world war, a great depression, and massive personal and public austerity to bring the DEBT BUBBLE amassed from 1911-1929 from 300%/gdp back down to ground zero of 130%; we now have a DEBT BUBBLE of some 370%/gdp, still growing, and we are hoping, praying (pretending) that we won't need another world war, another great depression, and another generation washed out in massive personal and public austerity to get the current DEBT BUBBLE back down to 130%.
(Note: In 2001 we were about the same level of total debt/gdp as we were back in the Great Depression; but, instead, of raising rates to begin limiting debt - AND face the consequences - we did the opposite, we lowered rates, took on more debt, and are still taking on more debt. You can argue that debt doesn't matter, as long as it is manageable. But look where we are now. We are having to fix interest rates near 0% to make our debt manageable, for the first time in human existence. This means it is NOT manageable.)
If the FED decides to finally keep raising interest rates higher and protect the Dollar - which it should have begun doing in 2001 - then we will have all those things the FED has been trying to avoid: deflation, depression, collapse of back promises, international tension, protectionism, world war, and austerity, austerity, austerity.
Strong Dollar will collapse the 'Wealth Effect' the FED has been protecting with great vigor since 2001. It will collapse the Housing Market; it will collapse the stock Markets; it will collapse the commodities Market.
A strong Dollar is strong medicine. It will cure us but it also might kills us. I say let's take our medicine now for the sake of our kids and grandkids, for the sake of our country and it's future.
What is there about "Capitalism" that precludes making accounting mandatory in our schools?
The American Dream is a delusion like a carrot on a stick designed to keep the treadmill running.
In the nearly half-century since the Moon landing we are supposed to believe that economists cannot figure out Planned Obsolescence in automobiles or talk about what Americans lose on the depreciation of the junk every year?
The point has been beaten to death. Might be best simply to drop it.
To drop it....I don't think so. We all have been witnessing how Capitalism is getting replaced by a system that is not fair or equitable. Our economy looks worse every day because capitalism requires savings and capital to operate effectively regardless of what the Federal Government and the Federal Reserve say. The Federal Reserve is actively killing our economic system and growth, destroying our ability to get out of recessions, and creating a system where they are the holders of monetary power and wealth not Congress or any elected leader. Lastly, they are not elected and have no issue about destroying the economy if felt threatened.
Every American should be cautious about the Fed and how this organization regularly declares itself as not part of the government but are more important than any elected official or even group of them.
All I can say is enjoy this madness before rates go up, inflation rears its head, and the Fed cuts its support, because winter always comes and at the rate things are going, Santa won't have any presents and Washington won't be able to even sustain what it is already giving away.
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