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78 Comments
- oboshoe, on 01/29/2009, -1/+39Zimbabwe was unavailable for comment.
- s0m31john, on 01/29/2009, -2/+34End the Fed
- bigsheldy, on 01/29/2009, -4/+35How much ***** can the government buy before everything is controlled by them?
- richmomz, on 01/29/2009, -2/+28Time to oil up those printing presses!
- oboshoe, on 01/29/2009, -1/+21Yes, because the problems created by bad lending, can only be fixed by bad borrowing.
- arlok789, on 01/29/2009, -2/+21The government got us into this mess by engaging in dangerous monetary policy, now more of it is the answer? If you have a concussion, bashing yourself in the skull with a hammer isn't going to fix it. Propping up the bubble is pointless, it was a bubble. You guys gotta let this thing bottom out. Yes, it is going to over correct in the other direction and things might get really bad for a while, but its the best way. The fed sucks.
- TommyGunn32, on 01/29/2009, -3/+211- The Fed buying these will lead directly to inflation through making more paper money not backed by gold or solver, thus weakening our dollar. This is how the Fed buys things.. they just print money freely.
2- This will only further our recession after a few months. Banks will be able to give more loans that won't be paid back after prices rise from the weakened dollar (See 1).
Only solution to fix the ecomony: Remove the Fed and let the rates adjust to the market
-Yes, they will be too high for us to buy extravagant things we can't buy outright
-Yes, we will have to sell some things and lower our standard of living to pay off existing debt
-Yes, we will be better off in 5-10 years - PhantomRogue, on 01/29/2009, -3/+21Well, Obama is allready on that track. I had high hopes for him to turn around the economy, but if he allows the Fed to continually manipulate the economy, we are going down even faster.
Theres a reason people aren't investing in the US. Its because the Fed and our Government have allready ***** this up to this point in time. We are moving farther and farther away from what makes a Capitalistic Economy work... being free from regulation. Capitalism works on the grounds that companies fail and others take them over or take their place at the top.
Sports is a PRIME example of this. You have teams that Peak and Valley based on their investments (Players), You invest in the wrong players (Tony Romo, T.O.) you flounder. You invest in the right players (Kurt Warner, Larry Fitzgerald) you have success. You don't gain success by having Roger Goodell doing the drafting.
The more our Government ***** with our economy (Fed buying Treasuries) the worse it becomes, because they control the supply and demand, thus it allows for manipulation. Which is why we are where we are at. I mean *****, the Article says it, "The approach is favored by some members of the Fed's policy-making arm, the Federal Open Market Committee. " That literally means that the Fed's OPEN MARKET COMMITTEE is in favor of market manipulation... - frcc, on 01/29/2009, -0/+17This will end when there's nothing left to steal or when politicians have serious concerns for their safety.
- theberlindoctor, on 01/29/2009, -1/+17The Fed IS NOT THE GOVERNMENT.
- inactive, on 01/29/2009, -2/+17ya sure
Fed creates the problem.
Fed tries to fix the problem by doing more of the same.
pure genius for the nutty people
oh, nukes were created to blow up cities, it doesn't mean it's a good idea to use them there Mr. - inactive, on 01/29/2009, -1/+13Zimbabwe would like to have a lol on us.
- richmomz, on 01/29/2009, -1/+13I beg to differ. Oh I know you mean that the Fed is actually a privately owned entity (true!) but the Fed in fact pretty much OWNS the government.
- vbullinger, on 01/29/2009, -2/+14"the Fed is trying to do what they were created to do... stabilize the market for loanable funds and ***** like that"
Very eloquent. And very wrong.
The Federal Reserve is doing what they were created to do: destroy our economy and monopolize all power and wealth into the hands of the very people that created it.
http://video.google.com/videoplay?docid=6507136891 ... - IHateRegisterin, on 01/29/2009, -0/+11Which further devalues the dollar. Germany recently fell from #3 world economy to China. One down two to go, won't be long.
- richmomz, on 01/29/2009, -0/+11Bingo - hyperinflation here we come!
- winterus, on 01/29/2009, -0/+10Yes, they are doing this to keep the economy afloat in the SHORT TERM. Thereby making the economy worse in the LONG RUN.
Those in power will always try to push a problem as far away as possible so they don't have to deal with it themselves. They won't care if their actions make the problem worse in a decade or so, the important thing to them is to avoid personal responsibility right now. - tgc1, on 01/29/2009, -0/+9Well the only good news of this is that it brings us closer to the day we finally figure out that the entire banking system is one colossal ponzi scheme.
I always sort of wonder why articles like this aren't dugg into the +5000 range. Always buried underneath other crap like what Britney Spears is doing. - tsopranos, on 01/29/2009, -1/+9That's why McCain was so adamant about pushing that initial bailout right. This isn't a partisan issue. Both parties are bought & paid for. The GOP has become Democrat light
- oboshoe, on 01/29/2009, -1/+9Gold or silver. Physically holding it.
Hardly perfect, but I'm starting to believe it better than anything else.
Equities? yea right
Bonds? That market in going to implode soon
Savings accounts? Inflation is going to destroy them. - pinchduck, on 01/29/2009, -0/+8To survive the crises, I plan on buying up lots of wheelbarrows, then reselling them as wallets in a few months. You can all use them to carry around your worthless million dollar bills.
- tgc1, on 01/29/2009, -0/+8Off with their heads.
- sigg14, on 01/29/2009, -0/+7that seems to have been the plan all along.
- LenBaird, on 01/29/2009, -0/+7Not officially at least
- oboshoe, on 01/29/2009, -1/+8
This cycle will eventually destroy our currency.
At this pace, in 10 years or less, we'll be adopting a new currency. Either a brand new US government issued currency or something like the Euro.
Is a one world currency in our future? 2 years ago I would have thought that nutty. Now? I'm not so sure - rmxz, on 01/29/2009, -1/+8Well, it seems they already bought the US government.
Buying a couple treasury bills issued by the government seems minor in comparison. - ka9dgx, on 01/29/2009, -0/+6We've been manipulated into a situation where the common working man has no reliable way to store wealth for the long term.
The currency is inflated, which means it's taxed away over time by The Fed.
Real money isn't government issued, and thus not widely circulated or regulated.
The commodities market is doesn't work on the personal scale.
Until this gets resolved, we're in for one hell of a bumpy ride. - sailadayaway, on 01/29/2009, -0/+6No really, off with their heads, this is why the constitution allows us to bear arms, so we can rise up and crush the government if it tries to get too powerful.
- Beautyon, on 01/29/2009, -1/+7From the Wall Street Journal:
How realistic is a North American currency?
Commentary: Uniting U.S., Canada, Mexico money could result from crisis
NEW YORK (MarketWatch) -- Thomas Jefferson once said: "When you reach the end of your rope, tie a knot in it and hang on." As the global financial system pushes on a string, investors are desperately trying to hold tight.
The New World Order is upon us, full of hope, promise and a fair amount of fear. In our recent discussion regarding the direction of our country, we noted the risks of catering to conventional wisdom and the implications for the U.S. dollar. See MarketWatch column on New World Order.
The Minyanville mantra is to provide financial news you need to know before you know you need it. That's a fine line to walk, as foresight often flies in the face of mainstream acceptance.
In 2006, it seemed counterintuitive to forecast a "prolonged socioeconomic malaise entirely more depressing than a recession." See Minyanville column.
For years, the notion of an "invisible hand" was conspiracy theory until we learned that the Working Group on Financial Markets was a central policy tool. See Minyanville column.
And now, as we gaze across our historically significant horizon, we must open our minds to thoughts and ideas that may seem foreign to folks conditioned by the past and stunned by the present.
Currency crossroads
As governments take on more risk -- as they price assets on behalf of the market and transfer debt from private to public -- the common denominator, or release valve, becomes the currency.
If our economic condition is allowed to take medicine in the form of debt destruction, the greenback will appreciate, and asset classes as a whole will deflate. If we continue to inject drugs that mask symptoms rather than address the disease, the likelihood of a seismic readjustment increases in kind.
The deflationary forces in the marketplace are pervasive, and the "other side" of our current equation, hyperinflation, may be years away. Given the magnitude, breadth and pace of the global financial epidemic, however, we must explore each side of the twisted ride.
[....]
http://www.marketwatch.com/news/story/Do-we-need-a ...
But of course, its all a 'conspiracy theory' right? There is no plan for a North American Union, and when it is brought in, it will not exist .....RIGHT?
2+2=5!
(And thats not five factorial) - ladyattis, on 01/29/2009, -1/+7Okay, it's official government is a near endless series of failures.
- ohearn, on 01/29/2009, -0/+6Yes but most of our elected officials need it fixed in 2-4 years before they have to run again, so they will go for the short term fix to get re-elected and screw us over in the long run.
- diggopolous, on 01/29/2009, -0/+5Yes but how many wheelbarrows of cash would I need to buy one of your wheelbarrows? And how would I get my initial few wheelbarrows to buy the wheelbarrows I need to carry the cash needed to buy my first wheelbarrows from you?
- anarcurt, on 01/29/2009, -0/+5Enough with the market manipulation! We are going to cure the housing bubble collapse by creating a bubble in LT Treasuries? As it stands there is already a huge bubble building in ST Treasuries. When this new bubble bursts it will be the death of the Dollar.
After all the printing to buy the treasuries and after foreigners pull out their money currently in US Treasuries (because the yields cannot get any lower) it will cause a massive devaluation of the Dollar. - BlatheringIdiot, on 01/29/2009, -1/+6That's the New Economy- We will hire 3 Million workers to just print currency!
- fuhcough, on 01/29/2009, -1/+6WTF is happening here? Buy the treasury?
How about you take your trillion dollars and stand up federal banks that offer interest-free loans and use application fees to cover overhead expenses? Want to increase consumer spending, ***** the housing market, and get this credit crunch's dick out of uncle sam's ass? Well I could sure spend a lot more than I am now if I could get a no-interest loan to refinance my ***** up mortgage.
Well, maybe not me personally, but there are probably about a million people that could take advantage of that. And oddly enough you won't have to worry about Joe Schmukatelly using his interest-free loan to do carbon-capture research or build some stupid otherwise-state-funded water park. - Ryanw430, on 01/29/2009, -1/+6The Fed and these retards with financial degrees are causing a bubble in treasuries just like they caused a bubble in the housing market. Treasury bonds are junk bonds today. The average American worker owes about $70,000 to the government (11 trillion divided by 158 mill of labor force). Not only this, but when the baby boomers start retiring, the average worker's share of the government's debt will skyrocket.
- temporarysanity, on 01/29/2009, -0/+5Actually "treasurys" is a correct alternate spelling, in this context. Feel free to check your facts before insulting.
- cdominus, on 01/29/2009, -2/+6Great football analogy, your right on the money.
- maxtangent, on 01/29/2009, -0/+4People have been warning about it for over a decade but you still think it's covered up.
I think you underestimate the power of denial. - inactive, on 01/29/2009, -1/+5Of course they are lol Hold on tight ***** this ride just started.
- PhantomRogue, on 01/29/2009, -2/+6When the Chairman of the Federal Reserve is appointed by the PRESIDENT, id say they are pretty much the same thing.
- pinchduck, on 01/29/2009, -0/+4Excellent questions, my fine man. Sign here _____________________ for a government-backed Whellbarrow loan and you can enjoy this shiny model right here. Sign this contract here ________________ where you agree to make all payments in gold. It has been a pleasure doing business with you.
- Pwelborn1, on 01/29/2009, -0/+4I don't disagree with you. There is just no strong leadership right now to move us back in the right direction.
- bigsheldy, on 01/29/2009, -1/+4excellently worded...+1 from me sir
- zantos420, on 01/29/2009, -1/+4but,... but... printing worthless money is so much easier!
/s - kkonarik, on 01/29/2009, -1/+4So if Obama really had the people and nations good at heart wouldn't he come out and say all this has gone to far???? If he pointed this out wouldn't the nation listen???
. . . .Change. . . . - goffy59, on 01/29/2009, -3/+6I voted Ron Paul! I stand for what I believe, can you say the same?
- sat0shi, on 01/29/2009, -0/+3So I guess I SHOULDN'T bank on the yen weakening against the dollar? The analysts from the article I just read said the dollar might jump to the 102 yen range if it breaks 93 or so... But hey, that's just technical analysis... I'm starting to doubt the accuracy of TA these days.
- Pwelborn1, on 01/29/2009, -1/+4Sometimes It would be better for all of us if Government would just quit trying to "help". In this case by the time we make all the changes and get them enacted the recession will already be recovering. It seems these days no matter who is in charge we all end up losing a little bit more of our independence.
- GovernmentSp00k, on 01/30/2009, -0/+3http://www.youtube.com/watch?v=Rc7i0wCFf8g
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