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youtube.com - Best Buy employee, Danielle Kelly, sings her way into holiday campaign.
169 Comments
- WordsnCollision, on 06/11/2009, -3/+96It dropped all right... all the way through the Earth and ended up in China.
- Hetman, on 06/11/2009, -0/+76The problem when it comes to home values is that they were over inflated. They were not worth the amount they were being sold for. You can say that the wealth is diseappering but when it comes to the housing market it was never really there to begin with.
- Richandler, on 06/12/2009, -2/+56It's hard to destroy something that was never really there to begin with.
- inactive, on 06/12/2009, -2/+43Like has already been said; saying that the wealth is "lost" is a bit misleading. A lot of it was never really there to begin with.
- andyb747, on 06/12/2009, -5/+38The more we print. The less it's worth.
- heiman, on 06/12/2009, -2/+23 Within a decade the average household that pays income tax will owe the equivalent of $155,000 in federal debt, about $90,000 more than last year. What the Obama administration isn't telling Americans is that the only practical solution is a giant tax increase aimed squarely at the middle class. The alternative, big cuts in spending, aren't part of the President's agenda.
- thecoolestguy, on 06/12/2009, -0/+17Reminds of the debate between Peter Schiff and Art Laffer in 2006:
http://www.youtube.com/watch?v=IU6PamCQ6zw - Husky217, on 06/12/2009, -0/+15Same with stocks and other securities. Look at the DOW or S&P price in gold and compare them to being priced in the dollar. Entire multi-year rallies disappear (03-07). They were artificial bubbles.
The same can be said of deflationary spirals. People are freaked out about them, and rightly so to an extent. However, in our case, it's not an independent event. Preceding it was record inflation, making the deflationary fall so much greater. The Fed amplifies the natural business cycle into a extreme boom bust cycle. - SwiftKick34, on 06/12/2009, -3/+17What about all of that debt-fueled government spending? Doesn't that reduce our wealth as well?
- Samueul, on 06/12/2009, -5/+19Yeah, and the war funding bill is now on again as Obama has promised to block any gitmo photos from being released under foia etc..
There's your ***** change..... - thecoolestguy, on 06/12/2009, -1/+14Don't forget Bush and the Democrats who pushed through the corporate bailout.
Apparently, 780,000 Million $ to inefficient bloated companies that failed in the marketplace is supposed to make America more productive. - stoanhart, on 06/12/2009, -0/+11Then don't think about it too much. It's all just monopoly money anyway.
- Bloodwine, on 06/12/2009, -3/+14Globalization, ***** YEAH!
In all seriousness, this is just the beginning. The world will not raise itself to our standard of living. Best-cast scenario we meet them somewhere in the middle, which means we still have a ways to go down. - Protonz, on 06/12/2009, -1/+12Keep an eye on the value of the dollar, it has been dropping over the past few weeks. The government intervention just moved the problem to inflation (and made it worse) which may start to show its effects within the next 2 years.
If it does, then it will likely get pretty bad as more people try to flee the sinking dollar. Not sure if the end result would be hyper-inflation, but it will be interesting to watch. - Unreal030, on 06/12/2009, -0/+10A lot of people are to blame, but don't act like Obama isn't part of that relatively large group. Now that would be really retarded.
- warp99, on 06/11/2009, -10/+20You thing this is anything wait until the dollar drops to the value of the peso because of all the borrowing done to prop up these failed corporations.
- Y0tsuya, on 06/12/2009, -0/+9Problem for Americans began when they started counting home value toward their net worth.
- itsmikey, on 06/12/2009, -4/+13What are you babbling about?
- h99d, on 06/12/2009, -1/+10printing printing printing like crazy........ Scary: http://research.stlouisfed.org/fred2/series/BASE
- tenth8sphere, on 06/12/2009, -4/+13You what might fix this? Printing more money. Oh, thank god, that's the plan!
- charlietuna, on 06/12/2009, -1/+10I guess the old fashioned notion of saving money might come back into vogue... instead of borrowing everything.
http://www.feedthepig.org/about - TsuruchiBrian, on 06/12/2009, -0/+9Americans' wealth that they THOUGHT they had drops $1.3 trillion
There I corrected it. - inactive, on 06/12/2009, -7/+16Way to go Obama! Yeah! Stabilize that economy!
- TomK88, on 06/12/2009, -1/+9Except it's worth 9/10ths of the USD right now and Canada's monetary policy is specifically designed to control inflation (which it has been extremely successful at accomplishing).
- fragMasterFlash, on 06/12/2009, -4/+12It dropped by $1.3 trillion because it was merely overvalued by that much. I cringe at the thought of how much further it could have gone without government intervention (and I am no fan of big government).
- inactive, on 06/12/2009, -2/+9More than that...
- hantata, on 06/11/2009, -3/+10Actually, if you dig right through the earth from the US.. you'd end up somewhere in the Indian Ocean. Maybe the money went there...
- TomK88, on 06/12/2009, -1/+7Thanks for the valuable insight.
- jo42, on 06/12/2009, -1/+7It was all numbers in a computer anyway. This is how the Fed "prints" money -- some sphincter plug adds more zeros at a terminal somewhere in the Eccles Federal Reserve Board Building in DC.
- zeth006, on 06/12/2009, -6/+12Typical freeper blames the recession on Obama.
- DarkShroud, on 06/12/2009, -1/+7He voted in favor of bail outs. He isn't cutting the budget and has already out spent Bush. Hell yes Obama is to blame.
- inactive, on 06/12/2009, -0/+6Bah wealth is not everything, as long as you take pride in killing brown people for their oil then everything is alright. No worries people !
- Bloodwine, on 06/12/2009, -0/+6According to economic reports, the amount of Americans saving money has skyrocketed in the past several months. It is up 5%, I think?
- FrozenBladeGX, on 06/12/2009, -0/+5This is true, it was an inflated bubble we're trying to artificially re-inflate with money we're borrowing from other countries.
What can possibly go wrong rite? - toddc612, on 06/12/2009, -1/+6Title should read:
"Home Values in U.S. Overvalued $1.3 Trillion". - itsmikey, on 06/12/2009, -0/+5I wish I were stoned too. payday tomorrow, woohoo
- juankovo, on 06/12/2009, -0/+5Your comment is evidence that you need to head over to mises.org and start reading.
This recession was not caused by extreme capitalistic greed any more than the previous boom was caused by extreme philanthropic generosity. It's not like greed was just invented in 2002. Go to mises.org; start reading. Or read http://www.meltdownthebook.com/ - NMRgentleman, on 06/12/2009, -0/+5How is it that we can post the same graph, mine higher in the comments, and you get more Diggs? Ah well, as long as the info gets out there.
- Goph09, on 06/12/2009, -0/+5Crazy.
Hey, wasn't the total amount of all the stimulus's around $1.3 trillion? - WordsnCollision, on 06/11/2009, -2/+7That'd work, if you consider all the outsourcing to India :o)
- hajihill, on 06/12/2009, -1/+6Dugg for rampant paranoid speculation.
- Eorster, on 06/12/2009, -0/+4That's great. Wonder if he sent him a penny. Shows just how blind some of these investment mangers are. I wonder how the guy's investors feel about seeing this?
- darkened, on 06/12/2009, -1/+5Then pay more than you owe in taxes and write on the check that the remaining balance is to be paid to the national debt. It's entirely available to you. Otherwise donate the money to local charaties that support your community. More power to you.
However I on the other hand, I need my money and don't want the government to seize it and force "charity donations" upon me. Cut the government spending, don't raise taxes! - SpykerSpeed, on 06/12/2009, -3/+7Obama is willing to take responsibility for all sorts of things, from our health, to the economy, to global warming. So yeah, I don't think it's too far-fetched to blame anything on him.
- CTK14A, on 06/12/2009, -0/+4Home Heating with Deutschmarks:
http://www.stubbycandles.com/images/Inflation-1923 ...
This is what happened when the economy collapsed in Weimar-era Germany. We all know what came next. - tenth8sphere, on 06/12/2009, -5/+9Really? Seriously?
- rheaume, on 06/12/2009, -0/+4Pray for no korean war ftl
- Eorster, on 06/12/2009, -0/+4My neighbors, most are in their late fifties early sixties, are all freaking out. Their 700k homes they were going to use to fund their retirement are no longer 700k homes. My neighborhood is going bonkers everyone blaming everyone else for their homes value declines. Even had one guy complaining that the guy across the street has a lawn that isn't green enough. These are people that have never had a problem with each other in the past. LOL. Blanking idiots.
- DarkShroud, on 06/12/2009, -0/+4No, they're planning to transfer the balance to a card with a higher limit that's paid for by us and the next 4 generations.
Just wait until more "lower income" house holds start feeling the pinch. Who do you think is getting hit first with the "eco-friendly" laws to get older cars off the road. - NMRgentleman, on 06/12/2009, -0/+3Just be careful how you save it Charlie. Save it in the bank and you might really find yourself losing wealth when the results of all our money printing and debt come back to bite us. It might be better to spend it on sofas. Really.
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