People should realize that the FED can create as much money as they want by one press on the keyboard. People should realize also that the FED is owned by the banks. There's no way the (big) banks are going to just sit there and go bankrupt, they use the FED to print money and transfer that to themselves (how much money did the FED already inject lately in the big banks to save them ?). Of course, that creates huge inflation but that's the perfect means of spreading their losses to the people. Only thing they had to do to get away with that is to stop the publication of the amount of printed money and that's just what they did. http://en.wikipedia.org/wiki/Money_supply http://www.federalreserve.gov/releases/h6/discm3.htm So in short, the bigger banks won't die, they ARE the FED, they'll just spread their losses to the nation via inflation and 'inflate their way out of their problems'
As long as markets remain open for trading, real traders will make money. As far as the developed world state of affairs - we've been feeling it grinding down for a while now.....but there are still booming industries in amongst the ones that are crashing. Developing world (BRIC) - they are becoming wealthy, but by our standards they are still poor. They are doing a lot of business amongst themselves. I guess we'll find out how important US demand is amongst our global peers. I read somewhere Alaska has more oil than Saudi Arabia; and the Gulf Region has more oil than Alaska. If that's true, is that a life-raft one should take??...no more dollars to buy foreign oil - we buy our own oil.
Whoever is Prez will have an ugly situation to deal with, but lets please keep this on trading or econ. Been a good thread so far. Few idiots hazing each other, lets keep it that way. BTW, they both suck. Mac the only R that can win, and BO, the only D that can lose. lovely.
I take it you are sarcastic? What possibly can happen to rectify that? (referring to your chart which I have in my archives).
BRIC's , with the exception of India, are completely export dependent. When the US goes, then SE Asia goes, then China goes. So China is more dependent on the EC? Guess who they are dependent on? When the US sneezes, everyone else laughs. When the US gets the flu, everyone else panics, and says, "what the fuck, who is going to buy all our shit". I've studied international econ everywhere from U of Utah, to Cambridge England to Helsinki to Thunderbird. Guess what, They all got it wrong. Academics always do. They look at the past and are thus incapable of looking forward,
Non-borrowed bank reserves now at -130,140,000,000. What are banks expected to use to pay back that debt? If you don't belive the number look for yourself. http://www.federalreserve.gov/releases/H3/hist/h3hist4.txt
I'll take back the Obama comment. Btw, I don't like either choice as well. Just scared of Odumba. I agree either is going to have an absolute hand full to deal with.
Please. the biggest tax increase of all time was caused by Bush via inflation. Until we cut spending and stop borrowing, we're just being taxed more.
Kin, You always have been an idiot. This just takes it. You think global econ would be difff under Kerry? Tell me how? BTW, I hate the Bush admin, but rookies like you are far worse.