What is Digg?347 Comments
- lOvOl, on 11/08/2007, -11/+129If anyone remembers good old Ross Perot, he was basically saying the same thing (as was Pat Buchanan over a decade ago) about what the consequences of our fiscal policy would ultimately be. Both were labeled protectionist, isolationist, and even xenophobic when their arguments were simply based upon historical precedent and simple economic theory. Also, any economists who were not totally pro-Keyensian from the day I was born have been discredited by the mainstream media as economic crackpots, even though it doesn't take a nobel prize winner in economics to realize that America is being plundered by globalist socialists who may have American citizenship and may have even been born in America, but nevertheless are Americans in name only as they have sold this country and the American people who love this country to the highest bidder in some of the most treasonous ways imaginable.
When I was in high school (I am 31 now), I knew this was all going to happen eventually and I am only surprised it didn't happen earlier. Nevertheless, both the Republicans and Democrats (well not all of them as there are a few good ones from each party) are totally useless in running this country effectively for the greater good. Most of them are baby boomer idiots who only care about their generation and could care less whether future generations of Americans have to beg the rest of the world for food to eat because they squandered all of America's wealth during their own life so that they could live the "good life". Sometimes I think the bird flu would be a great thing to hit America as it would disproportionately kill off all the baby boomer retards so that the younger generations would still have a chance to salvage what is left of America and make it great again before we all might as well be slaves to whatever undemocratic global superpower ascends to take America's place while the baby boomers all happily die off decadently while smoking their last joint. - kazamx, on 11/09/2007, -3/+77I wonder how low the $ will fall? As many have pointed out almost everything up to this point has been a result of American decisions. The falling $ could have been stopped by reducing imports, balancing the budget etc. This wasn't done. The scary thing for America is the next stage. All those trillions of $ held by other countries could be dumped onto the market as countries try to balance their risk by reducing $ and increasing Euros pound sterling and yen. If this happens they $ will fall, but now there is nothing the US can do to stop it.
- johnlandes, on 11/06/2007, -6/+66As a Canadian crossborder shopper, all I can say is Thank you W!
- asdfuiop, on 11/06/2007, -1/+49Man this sounds like some serious business, but I'm pretty sure most people are too busy checking out that smoking hot True chick on the right to take any serious action
- inactive, on 11/09/2007, -10/+54another neo-con failure. bush reiterates his "strong dollar policy" 10-12-2007
http://investing.reuters.co.uk/news/articleinvesti ... - nico623, on 11/08/2007, -7/+48I really wonder why fellow Republican candidates laugh when Ron Paul states that we should go back to the gold standard...doesn't seem that bad of an idea now...does it ?
- Nougat, on 11/08/2007, -2/+38The very moment that someone with enough power says, "We're done in Iraq, and we're not going to bully Iran anymore" -- oil prices start falling, and the dollar starts to regain strength. I guarantee it.
- inactive, on 11/08/2007, -10/+44We the People allow the unConstitutional Federal Reserve to control our currency. We aren't heading for a recession, we are heading for a depression. Pumping billions into the market only serves to prop it up and give everyone a warm-fuzzy. The dollar is tanking hard and will continue to do so. Inflation is well over 11% (despite the rhetoric you are fed) whilst each dollar you hold continues to lose its value by the day. Your smart move is to exchange your unConstitutional Federal Reserve notes for something tangible. I'd say gold, silver, copper jacketed lead and storable food supplies.
If you insist on staying in the market, I'd suggest shorting it. My portfolio goes up each and every time the market drops. Sure, I take a hit when it gets the FR influx of cash but it is like putting a band-aid on a gaping wound. If you build a house on sand, it's only a matter of time before the foundation crumbles and the house is lost. Our economy is built on sand thanks to the FR. The house of cards is coming down and it isn't going to be pretty. You don't have to stand in a bread line if you have your own bread. I hope you are all planning accordingly. - inactive, on 11/08/2007, -2/+30And in other news, gold has hit an all time high! Perhaps the gold standard Ron Paul champions isn't such a strange idea after all.
- MacSuxWindozSux, on 11/08/2007, -0/+25Remember they are nothing they say they are, and everything they say they aren't.
"Strong Dollar Policy"
"No child left behind"
"Mission Accomplished"
"Fair and Balanced"
"Uniter not a Divider"
"Greeted as Liberators"
etc. All these slogans are propaganda. They are false and intentionally deceptive as a means to promote political policy.
Traditional Conservatism is great. But this is not Conservatism. - Ubermann, on 11/09/2007, -1/+26I know Ron Paul makes a big point about what he calls "the Inflation Tax" - but he is really the only one actively raising concerns about this? Our media is keeping the dollar destruction a secret.
- etnu, on 11/06/2007, -1/+24As much as this sucks, it isn't like the US dollar hasn't been in the ***** before.
http://eh.net/hmit/exchangerates/answer?yBegin=195 ...
http://eh.net/hmit/exchangerates/answer?yBegin=195 ...
http://eh.net/hmit/exchangerates/answer?yBegin=195 ...
It's amazing the similarities between now and the 70s
- Stuck in a war that nobody supports and can't be won.
- A new Asian economic powerhouse is on the rise
- A Republican president that completely disgraces his entire country
- Panic over tensions in the middle east spiking oil prices
- Skyrocketing inflation
Crazy!
This country needs something like this every few decades to motivate us to get our ***** together. We've gotten lazy, greedy, and complacent. A kick in the proverbial nuts will hopefully bring us back in line. - danconia, on 11/08/2007, -1/+23They laugh at him while his stock in the gold industry is doubling and tripling. Ron Paul, who was born piss-poor during the Depression, is a multi-millionaire and one of America's most influential politicians. He'll have the last laugh one way or another.
- jmpeagle, on 11/09/2007, -2/+21not only is running deficits bad because of the need to pump more money and therefore deflating the value of everyone's savings but it also crowds our private investment. Hundreds of billions of dollars that could have been invested in making companies grow and hiring more people is now being spent to finance government debt.
Bush's legacy is the destruction of private investment. This is why the U.S. has lower investment and R&D rates than other developed countries. - cadams, on 11/05/2007, -0/+19Jobs?
- IDiggPaul, on 11/09/2007, -6/+24A weak dollar might be good in the short-term, but long-term it is a horrible situation fueled by the tax-and-spend politics. Ron Paul is the only candidate who would turn this around. He deserves your support.
- buff01, on 11/08/2007, -7/+25Ron Paul is the only man running who a) understands these problems and b) has publicly stated what his responses would be once in office.
He has my vote, and my contribution. - inactive, on 11/08/2007, -1/+18why not stop trying to be an empire, and start being productive for a second. america has some brilliant economists, probably the most brilliant in the world. they are the first to say healthy competitions all around the world benefit ALL other economies. it's a major MYTH that poor countries make everyone else richer, ask any economist. it's not the poor that make the rich, it's work that makes money. no work = no product = no money. economics 101. and competition, trade, in healthy systems, benefit BOTH sides.
- stolenisotope1, on 11/05/2007, -2/+19LOL! What exports?!
- mpredosin, on 11/08/2007, -1/+17It's so typical of us to blame others. Well not this time, blame yourselves Americans. Our irresponsible spending habits are finally catching up to us. My advice is to stop borrowing and pay down your debt. Stop spending beyond your means!
- guest2117, on 11/06/2007, -3/+18i'm very frightened of this!
- Billistic, on 11/05/2007, -2/+16Doesn't anyone remember when Cheney moved all his money into Europe?
http://www.counterpunch.org/whitney07052006.html
Americans, you going to sit around and take this *****? - cyb3rdemon, on 11/06/2007, -1/+15If George Orwell was alive, he would sue Bush for copyright infringment.
- jmpeagle, on 11/05/2007, -0/+14what? Our deficits are the problem. Our wars and constant increase in government spending is the problem. Bush is pursuing pro-"growth" policies AKA subsidies AKA Keynesian economics. The U.S. does not follow the Chicago School at all (I don't believe it is the best school of thought given their seeming ignorance of transaction costs and information assymmetries), but it sure as hell is a lot better than big government Republicansim which Bush has pushed onto this country for the past 7 years.
- N00F, on 11/08/2007, -3/+17I get no adverts, Firefox + Adblock = freedom baby!!! :-P
- slashbot, on 11/05/2007, -0/+13You can still make money off of the sinking currency.
Just move your money into other currencies for now - shdspart, on 11/08/2007, -17/+30This is what happens when you allow a Central Bank to take control over your monetary system. The dollar can only take so much strain as it is debased and when the rest of the world (China, Japan) has set up shop they will sit back and watch the dollar implode
- Renork, on 11/10/2007, -2/+15Buy back the debt with what? Trade them Alaska?
- inactive, on 11/09/2007, -1/+14most people lack basic economics knowledge, i keep hearing of "hacks" such as investing and re-investing on currency trying to fool banks being considered a basic sane strategy for everyone or that poor countries elsewhere automatically mean richest countries in the opposite side, that's bullcrap. trade does not, does NOT mean one of the sides loses and the other wins, healthy economies regardless of who is richer, benefit BOTH sides in trade. do not be afraid of others being rich, care only about yourself being richer by making products, the basic "method" of generation of wealth, simple generation of products, and trading with others profitably.
- copperhead, on 11/05/2007, -0/+12In other words, never. :-)
- hendzen, on 11/08/2007, -7/+19A lower dollar is great for the US.
The lower the dollar, the less outsourcing, and more exports. The low price of the dollar actually will help the US economy in the long run.
Also, while not great for the US specifically, it causes the price of oil to rise, thus encouraging the development of alternative energy sources and more fuel efficient cars, helping everyone in the long run. - ZeroIce, on 11/08/2007, -4/+15Invest in gold.
- inactive, on 11/09/2007, -3/+14Unknowns include: 1) Will their be an accelerated decline? 2) Was the destruction of the dollar planned by the neocons? 3) Will the debtor (America) default? 4) Will the poor and middle class rise up against the wealthy and politicians who deceived us?
Knowns include: 1) Humans give up their liberties in times of panic. 2) The destruction of the dollar has been planned for a long time by the neocons and 3) The middle class and poor will be hurt the most. 4) There will be unprecedented financial pain. If there are a few homes in your neighborhood for sale today, wait until then. 5) There will be an unprecedented bargain buying opportunity for American real estate. 6) No banks want to be the last holding worthless dollars. - HUKI365, on 11/06/2007, -6/+17Lots of countries have central banks - that's not the problem.
- Comatose51, on 11/08/2007, -5/+16Yes, yes it is a bad idea, according to Paul Krugman, a professor of economics at Princeton, http://www.pkarchive.org/cranks/goldbug.html
The bottom line is that money is a store of value. Gold in itself doesn't have any value other than what we give it just like paper money. If we had stayed on the gold standard, our economy would be subject to our odds of finding gold. This kind of fluctuation has brought economic crisis to our country on multiple occasions before, if you recall your American history. - jahurt, on 11/05/2007, -3/+14Please name a country that has devalued its way to prosperity.
- azimir, on 11/08/2007, -0/+11Not directly, except the position of the president gives strong execution capability to a single elected official. That person has strong influence on the direction within the government, especially activities within the military. An executive interested in a balanced budget could easily curtail spending within the executive branch to aid our congress in getting our house in order. Which of the candidates have a history (or even mention) that we need to truly balance the budget? It's a short list.
- ultimate_ed, on 11/05/2007, -0/+11Just remember, it's you baby boomers that are the ones feeding us the Xboxes, the Ipods, and the Paris Hiltons. You reap what you sow.
- Frostman3D, on 11/08/2007, -3/+13This is all part of a plot to develop one currency for the North American Union.
- bratpack8, on 11/05/2007, -1/+11While Bush isn't helping, inflation of the money supply certainly isn't a new thing under his administration.
- aukxsona, on 11/05/2007, -1/+11I suppose that is why Ron Paul's internet campaign is so popular with the 18 -24 crowd? I also suppose that is why all the 45+ consider him "non-viable" because they don't see the 18 - 24 crowd marching like they do. MAY BE we 18 - 24 crowd "march" in a different way. May be our march is digital and the internet phenomenon which is Ron Paul is this digital march.
My point. His base supporters are the VERY age you accuse of not caring. If we didn't care why would we donate all our hard earned money to him? We vote with dollars. We march on line. Why don't you get behind us instead of insulting us. - Frostman3D, on 11/05/2007, -0/+9Actually, if you ever needed it, it would be either outlawed or made worthless. They already confiscated gold from Americans before.
- aukxsona, on 11/05/2007, -1/+10My daughter was born 1996. She is 11. I was born 1980 (technically gen Y by a few days but I do not self identify as such) I want to stay and clean up for her sake. I want to set things right so she will not have to. I understand you are young, have a future ahead of you, but don't you have nieces, nephews, siblings which would be left behind? Would you want to see them suffer? Wouldn't you want to do SOMETHING to prevent that? I know I would. I'm a mom...I would die for my kids.
Baby Boomers put themselves first. They left most of their kids to languish in systems which tore them apart, over analysed, and over drugged them. They are the original ME generation. They created the NANNY state, Welfare state, and the police state. Our grand parents must have ***** up some where to create such ***** up kids. - morpheus69, on 11/08/2007, -6/+15Didn't anyone notice that this article was written by Patrick Buchanan? He's not exactly an economist, and not exactly an objective observer... The problem with articles written about the economy by politicians is that they oversimplify everything. If you want more jobs in the United States, a low US dollar is just about your wildest dream. As US exports become cheaper, US companies build more factories at home. During the late 1980s and early 1990s, as the dollar was falling against the yen, Japanese carmakers began building factories in the US to take advantage of the lower cost. With technology being mostly fungible, and cost being the only variable, production moves to the lower cost countries. The Japanese learned, and the Chinese will also learn in the future, that this can cut both ways.
- inactive, on 11/05/2007, -2/+11IT'S GENERATIONAL WARFARE! I consider myself idealistic and optimistic, however, unfortunately, it takes massive large scale misfortune: 9/11, Katrina, Wildfires, War before people remember what is important- and STILL! WE AIN'T GETTIN' IT! So, yes, a pandemic, meteor, nuclear holocaust, economic collapse might do the trick.
Baby Boomers? What exactly is your legacy? There were many technological and social advances made on your watch, but what have you exactly done to instill kindness and selflessness into the human spirit? Do you think God will give a *****? (Oh, yeah! You don't believe in God! Sorry.) The idealism of your youth is always inspiring but ultimately, you have given us drug addiction, large scale corruption, ignorance, and a much cheapened human experience.
Is it too late to redeem yourselves?
Otherwise, Gen X will clean up and turn out the light on your era, don't worry. Gen X is actually the last creative generation before you started drugging everyone up. - danconia, on 11/07/2007, -2/+10I'd expect it to fall VERY low. Once it starts losing value then other nations are going to dump our currency for whatever they can get. It will eventually recover but we're talking a span of *years* here. I don't mind some inflation but the Federal Reserve, deficit spending, and just in general abandonment of capitalism for corporatism tells me to buy hard assets immediately and hang on to your hats!
- vwvan, on 11/05/2007, -1/+9she is smokin'...
- Frostman3D, on 11/06/2007, -3/+11The federal reserve is bad for our country. It should never have been allowed.
- Tearlock, on 11/08/2007, -1/+9It would help if we stopped printing off money.
- kuzotz, on 11/05/2007, -1/+9It isn't my fault I'm a generation Y American.. The ***** baby boomers are the ***** that mismanaged everything now we operate like a 3rd world country.. And the ***** isn't an individual's American fault. ITs the governments fault. They ***** spend into debt, and then they give rich ***** tax breaks.
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