What is Digg?104 Comments
- inactive, on 07/06/2008, -13/+75The Iraq War destroyed the dollar. This is no accident. This is a planned crisis. Fascisim needs disasters to take root.
http://futurenewstoday.blogspot.com/2008/06/martia ...
The rich still keep getting richer. It's the rest of us that suffer. - dball48, on 07/07/2008, -2/+44“Let it not be said that no one cared, that no one objected once
it’s realized that our liberties and wealth are in jeopardy.
A few have, and others will continue to do so, but too many—both in
and out of government—close their eyes to the issue of personal liberty and
ignore the fact that endless borrowing to finance endless demands cannot
be sustained. True prosperity can only come from a healthy economy
and sound money. That can only be achieved in a free society.”
-Ron Paul, 7/10/03 - brad3378, on 07/06/2008, -5/+32To be fair, the Iraq war is only one "small" part of our $9,479,000,000,000 National debt.
Bush's $98 Trillion (yes that's Trillion) Medicare Drug plan is what we should be more worried about:
http://digg.com/business_finance/98_Trillion_unfun ...
Even Barrack Obama's $845 Billion Global Poverty act dwarfs spending on the Iraq war.
Source: http://www.wnd.com/index.php?fa=PAGE.view&pageId=5 ...
Do I support the war? Of course not.
But let's keep things in perspective.
The problem is the cumulative effect of decades of big government deficit spending.
http://www.brillig.com/debt_clock/ - DrCalculus, on 07/07/2008, -11/+36It will keep tanking until people demand the Amero.
- inactive, on 07/07/2008, -2/+26Damn! the green back is now becoming worthless. IT will soon be on par with the peso.
- Myztry, on 07/07/2008, -1/+21Empires get ambitious and wage wars of expansion and control on foreign terrorities. And shortly after, the Empire falls.
It's happened dozens of times throughout history, and is nothing to worry about. Unless you happen to be part of that Empire... - flavioribeiro, on 07/07/2008, -1/+19Unless the US government implements responsible accounting, they'll just destroy the Amero. Changing the currency doesn't exempt the nation from its previous liabilities.
The Euro only works because every EU country is forced to work under several budget constraints. Every new nation to join the EU is also required to pass an economic reform in order to guarantee that its participation will not destabilize the currency. - bsmeteronhigh2, on 07/07/2008, -2/+17We just need hyper inflation to get that Iraq war fueled deficit number down to size. Heck, remember when Big Mac Hamburgers at McDonald's were 55 cents? Remember when those Taco's at Taco Bell were only 15 cents each? The way I see it, our government merely has to bring down the value of the dollar to make this whole Iraq war 9 trillion plus dollar thing go away. Usually they do it every 20 or so years--your dollar is worth stink compared to what it used to be. Sure, your 401K will be worthless and your savings will be gone, but what the the hey, you knew it was a long shot anyway! Heck we're well on our way. Tonight I went to the grocery store. A farm raised six ounce portion of salmon used to cost $2.50. Now, it's up to $4.00. That 1/2 gallon of ice-cream is now 1.25 quarts for the same price! I don't need to mention gasoline. Life is grand!
- blanketfury, on 07/07/2008, -0/+15You shouldn't put US government and responsible accounting in the same sentence
- lordmike, on 07/07/2008, -4/+19Well, a weak dollar can be quite beneficial in many ways... for one thing, it may actually bring jobs back home! A weak currency is generally more beneficial to an economy than a strong one, if only 'cos it encourages exports vs. imports. The problem is, we've lost the ability to manufacture stuff... so, how are we going to increase exports when the only people who can make anything are the chinese?
- Simus, on 07/07/2008, -0/+12To be fair, there has been decades of bad judgement at fault. It's been this way since the 1940s when the national debt was 120% of the GDP.
Reagan and the Bushes are prime examples of it, but even most of the Democratic Presidents are to blame for it. - shrewduser, on 07/07/2008, -2/+13the iraq war didn't destroy the dollar, the US has been running a trade deficit for many decades now, the natural consequence is that eventually you'll see the unit of trade gets devalued... or thats the theory anyway.
- blanketfury, on 07/07/2008, -2/+13Someday I will make a fortune selling toilet paper made out of our currency.
- Khast, on 07/07/2008, -1/+9I live near Canada... I convert 1/2 my paycheck to Canadian.
A) It is cheaper, since I shop more in Canada than in the US. (US Banks give ***** exchange rates.)
B) Canadian dollar has been slowly rising. (Been sitting at or above par for the last couple months.) - hugolp, on 07/07/2008, -1/+10USA spends in army more than Europe and Asia all together, and they keep invading the countries that use euros to sell petrol, so I think that wont happen shortly. USA uses its military strenght to impose their economics politics so a big big crash in the US economy would be needed for a change like that, and that seems unprobable right now.
What is sure, is that US is heading the last stages of the "Imperium": losing civil freedom, total goverment control, big army, spending more than it earns, producing dependency from colonies, etc... So I dont think it wont be very soon but for sure all the signs indicate that the US is heading for the end of its dominance over the world. - Prophetfxb, on 07/07/2008, -4/+13GWB really ruined this country. It really goes beyond the value of a dollar, its the international disdain for Americans now as well.
- lordmike, on 07/07/2008, -0/+8The worst part about it is that you can't find any decent place to save or invest. Back in the stagflation days of the 70's and early 80's, you could at least put money int he bank and earn a fortune! My grandma had CDs that paid 14% in 1980/ She doubled her money in 7 years.... Now, interest rates are in the crapper and so is everything else!!
- dralezero, on 07/07/2008, -2/+9"What we want is a Goldilocks dollar. Not too strong, not too weak. But just right. And only the market can determine that," When the Fed stops "making" new dollars everyday like mad then we can let the market decide.
- DesdinovaEL, on 07/07/2008, -3/+10When Clinton left office there was s budget surplus. Bush took care of that pretty quickly. Thanks small-government Republicans.
- schroeder, on 07/07/2008, -0/+7Well it's already worth less than the Loon.
- EverTheCynic, on 07/07/2008, -0/+6Well that was a depressing read, so thanks for that.
- melshae, on 07/07/2008, -2/+8this is how Europe takes back control
- Myztry, on 07/07/2008, -0/+6@earlycj5 - The US is an Empire by any other name. Call it what you will.
Though still relatively young, things don't progress at the rate they used too.
"Rome wasn't built overnight" but figuratively, America was... - CoolHandLuke70, on 07/07/2008, -5/+10The FED destroyed the dollar. All part of the long planned move towards the NWO. A strong and independent U.S. cannot exist with plans of global governance. The Iraq war achieves a number of goals: 1) destroying any threat towards Israel in order to support its rise as the leader of the what Condosleeza calls "the New Middle East". 2) Securing oil and political hegemony in the area. 3) Destroying America's economy and sovereignty and the removal of rights and evisceration of the Bill of Rights. 4) The gathering of U.S. troops and national guard from states that are along the southern border that will be invaded by foreign troops after a a surprise strategic nuke attack from Russia/China --- i.e. our troops over there, their troops over here! Sound too crazy to be true? Just wait!
- TheMachine1, on 07/07/2008, -0/+5The rise in paper prices and the fall in the dollar has devastated the counterfeiting business. Bring back the $1000 bill!
- CressCrowbits, on 07/07/2008, -0/+5What is scarier?:
- The US continuing it dominance over the rest of the world.
- It's economy collapsing, leading to China asserting dominance over the rest of the world. - rockefeller2, on 07/07/2008, -1/+5Don't bother me with this kind of talk. American Idol is on right now.
- whazup911, on 07/07/2008, -0/+4why would you shop in Canada, now that the Canadian dollar is @ Par?
- SilverBlade2k, on 07/07/2008, -1/+5It's a planned crisis. They want to destroy the value of the American dollar to introduce the 'Amero', with the public reason "to compete with the Euro.". But, it's not for competition...it's baby steps towards their goal: a single global currency.
- masterm1nd, on 07/07/2008, -1/+4F*** that.
- inactive, on 07/08/2008, -0/+3@Alegoo92, Notice that the Fed is still not raising interest rates?
Notice that M3 increased by over 20% in the last twelve months?
The greenback is becoming worthless because of two things:
1- Uncontrolled Federal deficit spending by George Dubya Bush
2- Uncontrolled inflation of the money by the Fed to keep the strangled US ecnomy running, when it needed a correction (a recession in this case)
It is now too late to save the dollar. It is history because it is no longer the worldwide reserve currency. As soon as one of the major holders of dollars tries to bolt, the FOREX markets will crash in one day. Bubye greenback
And by the way, it is the economists that got us into this mess. Believe them if you like, it doesn't matter now. But remember what you are reading now when you can't buy an apple for a dollar. - punkcat, on 07/07/2008, -0/+3cheaper? the exchange rate when you converted would have compensated for it.
it would be a possible money maker for you in the long run depending on how big your pay check is, but with your logic being what it is, i'd say its not. - inactive, on 07/07/2008, -0/+3Its easy, just make a new dollar 1 to 10 olds and it'll be strong again!
- PeppermintPig, on 07/07/2008, -1/+4Morons will demand a new currency only after the existing one fails. Smart people are already choosing for themselves alternative currencies, particularly value-backed solutions.
- Lynxpro, on 07/07/2008, -0/+3...and "Europe" itself is in danger of becoming one big Islamic state due to the inability of Europeans to reproduce. Except for the Irish, ya'll are like pandas.
- CoolHandLuke70, on 07/07/2008, -1/+4It will fail --- that is why people will readily accept the Amero!
- GeauxLSU, on 07/07/2008, -0/+3Lots of thanks to go around!
Thank you morons in the Sub Prime housing and credit markets (lenders and borrowers) for forcing the Fed to reduce interest rates and collapsing the banking industry…. Putting the most downward pressure on the dollar
Thank you Congress and Clinton Admin for stupid trade policy (especially with China) resulting in trade deficit also lowering the dollar.
Finally, thank you Congress and Bush Admin for deficit spending also lowering the dollar. - Nytrixxx, on 07/07/2008, -1/+4GET EDUCATED AMERICA! Research these issues on the internet. Are you going to let the media machine tell you who you are, and were you live? I get so damn mad when I see some arrogant prick rant about people who question what is happening as unpatriotic. There is a lot more going on here, and everyone better damn well get your head out of the sand and begin learning about it.
"In Germany, they came first for the Communists, And I didn’t speak up because I wasn’t a Communist;
And then they came for the trade unionists, And I didn’t speak up because I wasn’t a trade unionist;
And then they came for the Jews, And I didn’t speak up because I wasn’t a Jew;
And then . . . they came for me . . . And by that time there was no one left to speak up." - NeoMatrixJR, on 07/07/2008, -3/+5DesdinovaEL: Don't believe everything the government tells you. Just because they said there was a surplus...we still had a huge national debt. brad3378 is right, the problem is decades of deficit spending which span multiple republican and democrat terms.
- sweetholymosiah, on 07/07/2008, -0/+2like gold!
- blanketfury, on 07/07/2008, -0/+2Meh. I hope this doesn't happen in my lifetime :(
- RufusMcCoot, on 07/07/2008, -0/+2Simple - any action of, relating to, or about not maintaining a national economy
source:
http://dictionary.reference.com/search?q=simple - Kyan, on 07/07/2008, -3/+5Jobs back home? Do you know how much the dollar will still have to fall for US salaries and wages to compete with India? Are you hoping it will fall that much? Or are you grasping at straws here looking for the silver lining?
- WallyAnti, on 07/07/2008, -0/+2Man, my grammar sucked it up in that post. Sorry. And I wasn't trying to antagonize you, it's just that in a scene where everything seems fuzzy it's best to be crystal clear for the sake of like minds. I'm sure you already knew the meaning of debt vs. deficit also and I didn't mean to come off so condescending.
- inactive, on 07/07/2008, -0/+2@neomatrix
What?
Uh, budget surplus is NOT the same as "no national debt".
Ah, wallyanti explained it already. Read it. - zerton, on 07/07/2008, -0/+2Europe's population is still falling. A high currency doesn't really spell economic success.
- tcpip4lyfe, on 07/07/2008, -0/+2A simple link to a definition doesn't make it any more simple, it just more clearly defines it. There isn't a guy sitting at a printing press that turns off the money machine and inflation magically goes down without other ramifications. "Printing money" generally means lowering interest rates to allow people to borrow more easily. More money is available so you have inflation. There is a balancing act the FED tries (emphasis on "tries") to accomplish by raising and lowering interest rates. If you lower them too much inflation runs rampant. If they are too high then the economy slows down because there's isn't as much money available for investment. So in theory the solution is simple because if they hiked interest rates inflation would stop but practice it would cause the economy to collapse causing many other problems.
- tcpip4lyfe, on 07/07/2008, -0/+2Are these questions rhetorical?
- inactive, on 07/07/2008, -0/+2Thank the Federal Reserve. Our Dollar is worth just $.04 compared to the dollar of 1913 when they took control of our money supply.
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