Discussion in 'Economics' started by polpolik, Feb 21, 2008.
Thanks for destroying the greenback! Cut rates some more, after all - there is NO inflation.
I'd thank Greenspan, not Bernanke. Having the luxury of hindsight, we can say Greenie kept interest rates too low for way too long.
He is f_____g responsible for making my $$ worth less.
If you live in the US, you won't feel it as much. But since I moved to asia, I've lost about 25% of my purchasing power which hurts.
LOL. The US has become 3rd world economically. 1st world weapons of mass destruction, 3rd world economic production and monetary policy. The Zimbabwean/Argentinian monetary discpline of the Fed is killing the US. And people are too dumb to realize it because they never travel outside of the country to realize how much the purchasing power of the dollar has diminished. Yeah, inflation is well anchored if you don't eat or drive and never get out of that piss pot trailer home.
I'm sure everyone is aware of our national debt. Consider where it was after 200 years of American history when Bush took office.. and during his term it has NEARLY DOUBLED.
How Ironic... Bush has done way more damage to the US trying to "protect us from Osama" than Osama could have ever done.
And in case anyone is in doubt as to whether "deficits matter"... DEBT IS ALWAYS ACCOUNTED FOR BY SOMEONE.
U.S. still is and probably would remain the only dominant military super power in teh world. But its economy is actually quite weak as most if it is supported by "financial services" as opposed to hardcore production of Europe & Japan.
I mean in the states u hear more about Goldman Sachs, Citi, Lehman Bros, but in Europe and Japan its more like Siemens, Mitsubishi etc.... (the culture in japan really despise financial sector they believe high finance is only trickery while hard manufacturing with dirty sweat is real hard work.... funny but kind of true..).
So to rescue its economy, the U.S. could utilize its No.1 military to rob countries all over the world... lol... (It's kinda doing that right now lol)
The country is broke. We just keep inflating to so we can servicing all the bad debt we keep pumping out. When the dollar finally goes down through the floor and interest rates begin to rise it will be over.
But remember, money is needed to pay for military and wars. Eventually, someone has to pay the piper.
This is how previous superpowers collapse.
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