the United States the Poorest Nation on Earth

reply to post by Donnie Darko


Canada has some insulation from the United States but you notice that the Obama administration is now pushing the integration effort forward and they are accelerating that American Union plan so perhaps that insulation will slip after a fashion or perhaps it will hold. I am not that certain but getting out of the United States is not a bad idea so long as the economy that you are going to has some insulation from the dollar crash. If the country you flee to is a full dependant on the US it will not help much I would imagine.

[atsimg]http://files.abovetopsecret.com/images/member/bc9a03528228.gif[/atsimg]


Hmmmmm..


Lets see.

Savings are going up. Debt going down. Something seems to be headed in the right direction. More non Gloom and Doom

Will Americans continue to save?

Will Americans continue to save?

The U.S. savings rate is now the highest it's been since 1998. Tess Vigeland talks to former Undersecretary of Commerce Robert Shapiro about whether he thinks the rate will stick.

(visit the link for the full news article)

U.S. consumers cut debt for 5th straight month

mdn.mainichi.jp

Outstanding U.S. consumer debt fell by $10.3 billion, or 4.9 percent at an annual rate, to $2.5 trillion, the Federal Reserve said. That's a much steeper cut than the $4.7 billion analysts expected, according to Thomson Reuters.

(visit the link for the full news article)




[edit on 10-8-2009 by SLAYER69]

reply to post by SLAYER69


The only reason for the savings rate increase is outright fear of the bottom being no where in sight.

I would hardly call the savings rate a positive economic indicator but people are going to need it when the hyper inflation really starts to kick in from these massive stimulus cash injections.

You should put on a happy face for your avatar instead of a scowl because you are going to need it.

Originally posted by wayouttheredude

I would hardly call the savings rate a positive economic indicator but people are going to need it when the hyper inflation really starts to kick in from these massive stimulus cash injections.

You should put on a happy face for your avatar instead of a scowl because you are going to need it.

Well that's yet to be seen. As far as my Avatar don't feel bad I can photoshop a smile anytime I want. Thanks for you misguided concern.

Stable Long-Term Inflation

Other programs will have to be managed more actively. Fed holdings of agency and long-term Treasury debt won't disappear on their own but will have to be run off gradually as the Fed reduces the reserve base, a process that's already beginning. Total reserve bank credit has dropped 8% since April.

The money supply has responded. M2, the broad measure of the money supply and the one that has the clearest relationship to nominal gross domestic product growth, slowed to a 5.4% annual rate in the first six months of 2009 after jumping at a 12.7% rate in the second half of 2008. (It rose at a 6.6% annual rate in the first half of last year.) This pace seems consistent with stable long-term inflation of about 2.5%.

reply to post by SLAYER69


Im sorry but Ted Gogoll has no track record of being correct on financial issues when compared to Peter Schiff. I will take the predictions of Schiff over Gogoll any day as he has proven himself to be correct on the outcome of the Federal Reserves policy far more than the Fed itself.

Read this: No Exit for Ben

Here is a favorite Snippet:

The idea that the inflation genie can be painlessly rebottled has no historic precedent. Even mainstream economists, who’ve never met a fiscal stimulus they didn’t like, agree that central banks must act preemptively with regard to inflation. Bernanke is making the case that the new set of liquidity tools, hastily developed in the panic of late 2008, will act just as well in reverse. But liquidity is a lot like liquid, it’s a lot easier to spill than to un-spill. The Chairman believes that his new gadgetry will allow him to perform a feat of monetary magic no other central banker has managed to pull off. But given his history of getting it wrong, why should we assume that this time he will get it right?

My comment on putting a smiley face on your avatar was more about the fact that people want to believe we are in recovery and like to listen to those who are saying we are but it has no factual basis. It is just smiley faces and positive attitude without any real credible backing in truth. Learn some Austrian Economics and quit listening to the hyperbole of these Keynesian school wishful thinkers that got us into this mess in the first place.

reply to post by wayouttheredude


Thanks for the reply.

I gather my information from many sources. Not just one or the MSM. It would do you a world of good not to assume too much. People tend to make mistakes that way. As a matter of fact I'm well aware of Schiff.

Maybe you should sit down some day and go through my Thread Post History you may learn a thing or two not just about me but how things are going.

If most of the States left the Union who would be left holding the debt? What if all the States abandoned Washington and created a seperate nation based on the Original unaltered Constitution?

Would the dirt bags who ran the country into the ground over the last 70 or more years be in trouble with some world court?

Even if the entire world abandoned the dollar Americans wont shrivel up and die we will just have to get to work manufacturing our own goods again. Not like China can come over here and reposes our stuff lol.

Sounds like the countries holding our debt are probably the poorest. Not that I condone the actions of our government in this matter but China is the country who traded goods for paper.

reply to post by wayouttheredude


One question no one bothered to ask, who is responsible? I find it funny how Americans are deluded into believing that it is OK for someone to f@ck them and get away with it, unless they are Fire Breathing Terrorists ofcurse. In that case you would bomb 2 countries to dust.

Is it time for revolution? Still hibernating? ZZZzzz

More good news about the economy. This one from USA today which has been pretty cheery in its reporting thus far. Soaring deficit may defy forecasts.

WASHINGTON — Stagnant unemployment, shrinking tax revenue and a struggling economy threaten to quadruple the size of last year's federal budget deficit, raising more questions about the timing of costly proposals to overhaul health care.

This is why when people give me that positive attitude crap about the economy I am looking for the plug to jerk it out of them. Wake up and smell the disaster stew cooking.