stop acting like suck up to Bernanke and Paulson. Bernanke and Paulson are nothing but gov't 'employees' or public servants.. the boss is the people. so they better not fuck-up!
Misconception... "the vote" in America is nothing more than a symbolic mis-direction. "The people" don't control JACK!
Pohpoh I'm in Cal"i"fornia. Our politicians are worse than the national average and the state is going to hell in a hand basket. Without Prop 13 I no doubt would have been taxed out of my house in the foothills east of our great capitol by now. Crooked politicians is an oxymoron . No one can be that stupid.
Dunno, but I can you this, the LAWYERS are making out like bandits from both sides....for the banks and for the home owners about to be tossed. It's a freakin WINDFALL for them. http://www.avoidforeclosurestoday.com/CBS47_update.htm
Buy, I'm sure you're a nice guy, but I would fade any call you made. Nothing personal, but your timing is horrible. You posted this on 5/19/2008, just as the market was rolling over. "Bulls rejoice as we break through resistance levels of August 2007 within the next 8 to 12 weeks." http://www.elitetrader.com/vb/showt...=127438&perpage=6&highlight=luck&pagenumber=1
clacy, It places more control of the value with monetary policy instead of with the commodity that the currency is tied to. If, for example, the USD was still tied to gold and silver, then demand consumption of those commodities for manufacturing goods would increase the value of the USD falsely. Right now the US is hot on inflation, but that's not a bad thing as prices have been stagnant for some time. Inflation is necessary for an economy to grow. The fact that the paper does not have a bottom with a commodity means that the bottom, as is being done now, is put in by the policy makers and the Forex market. This obviously means that if the policy makers don't know what they are doing then bad things can happen but only so-far as the Forex market cannot keep them honest, which has yet to happen.(fx is too large and corrupt) The fact remains that the Fed governors know more then anyone on here about what's going on with the economy. On a personal note, to take my above comments as me having unwavering trust in the monetary policy makers would just be plain foolish. Having fiat currency allows for a more malleable development and adjustment of policy over time, which is a good thing because calling tops and bottoms is for suckers. Regards,
because we as Americans get to spend, spend and spend some more ... we know the govt. will simply print more cash to keep up with our spending, regardless of deminishing buying power... then we simply blame evil speculators and corportations AND TAX the rich to bail us out. how does it get better than this?! nice, fiat currency system, nice, fiat currency system. hehe Oh, and for us small traders THIS is a gold mine. viva la volitility! the world is falling, the world is falling. It has been a very great month trading, and i know many other traders who are doing great this month as well! figure as small traders, we are sheltered from an economic slowdown ...