EU President: Obama's Stimulus "Way to Hell"

Discussion in 'Politics, Religion, Social Issues' started by fivepoint, Mar 25, 2009.

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  1. fivepoint macrumors 65816

    fivepoint

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    #1
    http://www.foxnews.com/story/0,2933,510445,00.html
    http://www.nytimes.com/2009/03/26/world/europe/26czech.html?ref=business

    Emphasis mine. A reckoning is coming everyone... regardless of how certain members of this forum try to label free trade, the free market, and sound economic principles based on savings instead of spending, production instead of purchases... as fringe (Is this fringe?), the fact remains that the Fiat money system and the Fed continue to devalue the U.S. dollar by printing more and more money to fund our history's largest deficit budget put together by the Obama Administration. (THEY PRINTED 1 TRILLION DOLLARS JUST A FEW DAYS AGO, DID YOU HEAR ABOUT THIS IN THE NEWS? OR WAS THE MAINSTREAM MEDIA KEEPING YOU BUSY WORRYING ABOUT A FEW MILLION DOLLARS IN AIG BONUSES?)

    This devaluing of the dollar is the single worst thing to happen to the poor, middle-class, and the rich because it reduces the buying power of each dollar. You may make the same amount of money at your job, but that money won't be able to buy the same thing. We'll see deflation in the short-term, but huge inflation will be following ever so closely! If you really care about the poor, you won't support this unprecedented governmental growth by the Obama adminstration. If you really care about the poor, you'll have the compassion to say 'NO' to this reckless spending and inflation of the bubble.

    Has Bernanke lost his marbles?
    Audit the Fed!
     
  2. jonbravo77 macrumors 6502a

    jonbravo77

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    #2
    so by all means. let's just compound the problem with paranoia. Everyone has an opinion on what is best for this country, but saying that we are going to "hell" is a bit extreme wouldn't you say?
     
  3. leekohler macrumors G5

    leekohler

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  4. Sky Blue Guest

    Sky Blue

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    #4
    Thank goodness for Fox News! They will save us from the bias liburl media! Fair and balanced!
     
  5. MacNut macrumors Core

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    #5
    Regardless of the OP's stance, the Prime Minister does have a point.
     
  6. Eraserhead macrumors G4

    Eraserhead

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    #6
    I'm not. I do find it shocking some of the things they are allowed to do, allowing ordinary people to take out mortgages in foreign currencies for example.

    In IT, which is still pretty new, business PC's are pretty locked down these days and consumer machines probably will have most of their security problems "solved" within the next 10-15 years.

    Comparatively banking has been around in a fairly modern form since the 1830's.

    Look at the following search: printing 1 trillion dollars site:foxnews.com, its not producing a lot of relevant hits.

    EDIT: In fairness the first hit is for a video of this issue.
     
  7. Superman07 macrumors 6502a

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    #7
    So how are the poor helped if these social programs don't go through and save jobs and provide unemployment benefits? It's okay - at least they wouldn't have to worry about inflation...
     
  8. Eraserhead macrumors G4

    Eraserhead

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    #8
    You realise that Europeans already get these. Its part of the package of being developed.
     
  9. jonbravo77 macrumors 6502a

    jonbravo77

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    #9
    I have to agree, if someone who says that the Treasury is actually printing 1 Trillion dollars please post a link to something that backs this up. I see a whole lot of the The Fed is buying 1 Trillion in Treasury mortgage, assets, and securities, but nothing about actually printing the money. Maybe I'm just not seeing it.. Trying to watch the video, but this guy is real annoying, waiting for him to get to the facts instead of doing this let's make it entertaining and it's not.

    Anyway, there is a lot of talk about the Feds buying the debt, they don't have to print anything to buy it, it's usually done on paper (not meaning money paper)..
     
  10. és: macrumors 6502a

    és:

    #10
    Maybe ''THE MAINSTREAM MEDIA KEEPING YOU BUSY WORRYING ABOUT A FEW MILLION DOLLARS IN AIG BONUSES?''.

    I wondered where that moon sized stack of currency grade printer paper went.
     
  11. fivepoint thread starter macrumors 65816

    fivepoint

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    #11
    You'd really like it if you could relegate me to a simple Fox News re-hasher, wouldn't you? It makes it easier to argue that way! Seems like a pretty bottom-of-the-barrel response if you ask me.


    http://news.google.com/news?um=1&ned=us&hl=en&q=1+trillion+dollars+print


    http://www.bloomberg.com/apps/news?pid=20601087&sid=afRBNPiWNYeY&refer=home



    http://www.theaustralian.news.com.au/business/story/0,28124,25212624-643,00.html
     
  12. Eraserhead macrumors G4

    Eraserhead

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    #12
    Here's the link: http://www.foxnews.com/video-search/m/22008177/the_one_thing_3_19.htm

    But he lies when he says the currency has dropped. It looks about the same as its been for a while to me.

    The gold price has risen as he says: http://www.goldprice.org/

    However a lower dollar would actually be a good thing for the US economy as it would make exporting cheaper so maybe it'll work this time.
     
  13. fivepoint thread starter macrumors 65816

    fivepoint

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    #13

    http://www.gftforex.com/analysis/857/the-weight-of-1-trillion-dollars

     
  14. és: macrumors 6502a

    és:

    #14
  15. jonbravo77 macrumors 6502a

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    #15
    I will apologize now about my naivete, but with these reports of printing a trillion dollars, that's not meaning the actual paper money, it's more of a debit card (for lack of a better term) type of money, electronic? I'm not up on the current printing practices of our money. Or at least that is what I am reading seeing words like "electronic equivalent".
     
  16. és: macrumors 6502a

    és:

    #16
    I just edited in a link about in the above post. They are going, as the BBC puts it, buy $1.2t worth of debt.
     
  17. jonbravo77 macrumors 6502a

    jonbravo77

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    #17
    So they are not "printing" anything, they are buying this debt from the Treasury?
     
  18. és: macrumors 6502a

    és:

    #18
    Nah. It's just fivepoint being dramatic.
     
  19. jonbravo77 macrumors 6502a

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    #19
    That is what I am wondering. I am seeing conflicting reports like this:

    But then it says that the fed is buying the debt:

    Link So I guess this is my confusion. So they are in fact not actually printing the money? Or is this 2 different things that are happening?
     
  20. Tomorrow macrumors 604

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    #20
    This principle works well for countries like China and Japan, whose economies are based on having more exports than imports.

    The U.S. economy, for years, was modeled as having a balance between exports and imports. That's why around the 80's you started to hear so many people panicking that our trade deficit was increasing.

    Today, many of us just accept that our economy bases itself on importing more than exporting, which is actually hurt by a weakened currency. Part of this mess could probably be attributed to the dollar's slide starting around 2000 or so. Many people forget that the euro was originally pegged to the dollar - how long has it been since those two currencies were nearly equal?

    Until the U.S. economy flip-flops and becomes export-driven (don't hold your breath), a weak dollar isn't helping.
     
  21. arkitect macrumors 601

    arkitect

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    #21
    Brown denies split over economy

    Well you know what they say. Never believe anything until it has been officially denied.

    Link…

    Meanwhile the UK Treasury has failed to sell all its government bonds in an auction for the first time since 2002.
     
  22. Ugg macrumors 68000

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    #22
    The Prime Minister who lost his job just the day before? Perhaps he's trying to take the focus off his own failed measures.
     
  23. fivepoint thread starter macrumors 65816

    fivepoint

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    #23
    Saying the truth is not Paranoia. The terms he's using are helpful in grabbing attention to the problem. All politicians use this type of language to drum up support for their viewpoints. Ignoring the problem is going to solve it about as much as excess spending and more debt is going to.



    We're more interested in your stance on the ISSUE, Lee.



    Perhaps... but the truth is that the net result is exactly the same. It's simply a modern version of printing more money, but since most transactions do not use cash, it is not necessary to physically print cash like we did before. They're simply sending wire transfers directly to banks. The bottom line is that more 'dollars' are reaching the market and diluting the overall value of the dollar. The fact that these dollars are electronic simply speed the rate at which the inflation will come. Agreed?



    Some good stuff here.


    This is perhaps the most important issue of this decade, maybe century. How this plays out could literally determine if the dollar survives another year or if the entire current economic system looks a few years down the road. There's already much talk of a new global currency and eliminating the dollar as the world standard.

    I'm concerned. Are you?
     
  24. MacNut macrumors Core

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    #24
    How is the current EU president out of a job?
     
  25. Eraserhead macrumors G4

    Eraserhead

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    #25
    Because the EU president is a rotated position of the head of government through all the EU countries and each country gets it for 6 months in turn. I imagine that as its the Czech's turn at the moment, if they sack their leader then the current EU president is out of that job as well, and the new leader gets it instead.
     
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