Worried About the Economy

[tim114]

I am really worried about our (American) economy. I have been reading many books on the meltdown of 2008. I started a separate thread on this and a number of forum members have left their comments. I appreciate them taking their time to do this.

I am beginning to think that this is not a normal recession. Others think the same. Therefore, the Great Recession. However, I think it is going to go beyond that. I feel the powers that be are running out of options and are feeding us bullshit. Bernanke doesn't see any inflation out there. Give me a break! I am beginning to think that America's superpower status is on the tipping point. The dollar is under attack. If the dollar is no longer the world's reserve currency, what does that mean for America?

Tim

 

[jtdestin]

Tim you are so right to be worried and I think it leads back to one man! Its the same man that sent the British pound into decline billionaire George Soros! and he is a main economic advisor to our president.

read this link

jt

http://www.mrc.org/bmi/commentary/2011/Soros_Event_Sets_in_Motion_New_Attacks_on_Dollar.html

 

[slimvintage]

Take a look at the statistics released in the last 24 hours: real unemployment as opposed to 12 months ago, retail sales up, gas averages at the pump down. If George Soros is the wizard behind the economy, here's to you George. Keep up the good work.

The dollar is under attack (by the House of Representatives) but those pygmies can't keep a good currency down. Ask where the world prefers to have it's capital, given the choice of all the currencies circulating on the globe. It's the buck boys, the buck.

 

[jayshaw]

i agree 100% with Tim and JTDustin. the Congress has it's short-comings, but the main culprit is Obama's very best friend George Soros. he has devastated the currency of several countries. now he and his devoted followers are hard at work to destroy America.

 

[slimvintage]

englay ekbay

Listen, you guys might be right, I've certainly heard conspiracy theories that were far more psychiatric than the Soros one. But I'd love you to meditate on where and from whom you first heard the revelation that George Soros was out to destroy the dollar. And that he was a dirty Nazi-collaborating tattletale teen who sent fellow Jews to the ovens by turning them in to the Gestapo. Even Fox News, who stoop to the most laughable levels of extremist fantasy decided to get rid of the fella I mean. We know who we're talking about, right boys? He's got it in for ole George too haha.

 

[Ms. Kianna]

I am really worried about our (American) economy. I have been reading many books on the meltdown of 2008. I started a separate thread on this and a number of forum members have left their comments. I appreciate them taking their time to do this.

I am beginning to think that this is not a normal recession. Others think the same. Therefore, the Great Recession. However, I think it is going to go beyond that. I feel the powers that be are running out of options and are feeding us bullshit. Bernanke doesn't see any inflation out there. Give me a break! I am beginning to think that America's superpower status is on the tipping point. The dollar is under attack. If the dollar is no longer the world's reserve currency, what does that mean for America?

Tim

If Bernanke doesn't see any inflation out there, I would be glad to take him grocery shopping with me. My weekly grocery bill has gone up about 30% in the last month.

 

[tim114]

I really don't think any one man or woman is going to do that kind of damage to the nation. I think it took years for us to get to this point.

Slim makes a good point about the dollar still being the currency of choice, but for how much longer?

Tim

 

[jtdestin]

Listen, you guys might be right, I've certainly heard conspiracy theories that were far more psychiatric than the Soros one. But I'd love you to meditate on where and from whom you first heard the revelation that George Soros was out to destroy the dollar. And that he was a dirty Nazi-collaborating tattletale teen who sent fellow Jews to the ovens by turning them in to the Gestapo. Even Fox News, who stoop to the most laughable levels of extremist fantasy decided to get rid of the fella I mean. We know who we're talking about, right boys? He's got it in for ole George too haha.

I don’t know about Soros history and it does not matter to me. I do know he nearly destroyed the British pound and was banned from trading in GB, and now he is trying his power grab in the U.S.. I don’t get my information from fly by night bloggers I am in the business with a Masters in Economics.
With all do respect i don’t know were you got your info on the economy

US inflation raced at its fastest annual pace in two and a half years as the cost of energy and food drove consumer prices higher, according to the latest Consumer Prices Index (CPI) report published by the government on Friday, May 27th.
Americans are paying more for goods and services for a tenth straight month as consumer prices increased 3.2 percent in the 12 months ending April 2011, the highest figure since October 2008. The annual rate was 1.1 percent as recently as November. The gain was greatly attributed to rising gasoline prices. The gas prices have dropped recently not because of what Obama or anyone else has done, only because it was reaching 4 dollars a gal. Usage dropped due to high cost hence supply has increased lowering the price. Usage always goes down when prices go up consumers cut back. This is always a short-term trend.

The only other thing I got to say on this issue is prepare for a long recovery and times are going to get worse before they get better. But the economy will recover the dollar will gain in value. But believe me the Government wont do a thing to help unless the get out of the way of small and large businessmen and let them grow and prosper.

My opinion and shared freely but worth nothing

jt

 

[jtdestin]

Listen, you guys might be right, I've certainly heard conspiracy theories that were far more psychiatric than the Soros one. But I'd love you to meditate on where and from whom you first heard the revelation that George Soros was out to destroy the dollar. And that he was a dirty Nazi-collaborating tattletale teen who sent fellow Jews to the ovens by turning them in to the Gestapo. Even Fox News, who stoop to the most laughable levels of extremist fantasy decided to get rid of the fella I mean. We know who we're talking about, right boys? He's got it in for ole George too haha.

lol... i have the pig latin ap also

 

[tim114]

I am not a trained economist, but I think one of America's leading exports right now is inflation. Since the US is printing so many dollars and since so many commodities are priced in dollars, I would expect this to be true.

Tim

 

[juanjo]

George Soros is a boogeyman propped up by some far right nut cases to scare children and the uninformed.

 

[tim114]

I think the basic solution to all this bullshit is to go back to some of the New Deal thinking. Our US government supports basic banking, everyday banking. We, the taxpayers, support it and regulate it. Beyond that, you are on your own. You want to gamble big time, fine. But if you lose, please don't come knocking on my door for a bailout. If you are too big to fail, then get smaller.

Tim

 

[slimvintage]

lol... i have the pig latin ap also

I counted on that JT

 

[balboa]

I have heard disturbing information. I went to the website of the guy who's been advertising on tv about the decline of the American economy and what I listened to on that site (forget the name) was very frightening to say the least. The author speaks about the decline of the dollar and that it will no longer be the world's reserve currency. This will be disastrous to Americans and will mark the end of America's being the world's economic leader. The author also speaks about us having to use a different currency (not from our country), like a world currency. He points to the fact that gold is being bought up by the ton by people who see this coming. Look at all the advertisements of people offering to buy your gold. All of this points to something very big, and I do think this is more than a bad recession. However, I'm at a loss at what to do about it.

Very troubling, indeed.

 

[slimvintage]

englay ekbay again?

I have heard disturbing information. I went to the website of the guy who's been advertising on tv about the decline of the American economy and what I listened to on that site (forget the name) was very frightening to say the least. The author speaks about the decline of the dollar and that it will no longer be the world's reserve currency. This will be disastrous to Americans and will mark the end of America's being the world's economic leader. The author also speaks about us having to use a different currency (not from our country), like a world currency. He points to the fact that gold is being bought up by the ton by people who see this coming. Look at all the advertisements of people offering to buy your gold. All of this points to something very big, and I do think this is more than a bad recession. However, I'm at a loss at what to do about it.

Very troubling, indeed.

Balboa, don't be at a loss. Do some research into who this guy who's scaremongering and supporting conspiracy theories actually is. Check out the website and make a judgement about its political agenda, or lack of one. Among moderate, sensible, patriotic Americans this stuff sounds creepily ultra-rightwing and is mostly dismissed by them as politically biased cant. I'd be really interested to hear who 'twas by, and where you read, the piece that worried you.

 

[tampa24]

There are always going to be those who have a conspiracy theory to sell you on tv or in print. Glen Beck went off the deep end during the uprising in Egypt. With his chalkboard drawings he breathlessly told us in hushed tones about how the Muslim Brotherhood had infiltrated the State Department. A Muslim takeover of the U.S was in the works, etc.. A new Grand Caliphate was going to rise up and reestablish the Muslim empire to the Pyrenees and beyond.

These kind of blowhards make lots of money doing this. Usually they have a strong financial and egotistical motive in doing so. Chances are that the guy rambling on about how gold will supplant the dollar will also conveniently be able to sell you gold very "cheap". If of course you get in on the ground floor with him.

That is not to say though that the issues facing the country are not very serious. They are. Our superpower status will hang in the balance in the next 20 years if we do not rein in spending on domestic programs....and...if we don't keep overextending our military in expensive foreign conflicts. And don't get me started on our manufacturing base being outmaneuvered by China. That's a whole different thread all by itself.

 

[balboa]

Thanks, Slim. I don't mind admitting that I was depressed and very scared for a few days after listening to the (very long-winded) dissertation on the coming financial ruin of America. At the very least, it had enough of truth in it to sound plausible. But this country is in a crisis and this is the worst possible time for there to be such political gamesmanship being played, mainly by republicans who's only aim is to destroy Obama; even if they have to destroy this country. We simply can't afford it...not now.

 

[slimvintage]

Balboa,

As Tampa points out the article you describe sounds like something Glen Beck would invent. But this other guy, even though he's been pretty much discredited as a serious author/journalist, is also still out there. I'm sending you the link so you can see what he looks like: one of Santa's sweetest elves. Looks deceive lol.

http://www.thedailybeast.com/blogs-...ont-die/?om_rid=NsfrDy&om_mid=_BN5jDxB8beoPLW

 

[tim114]

Tampa,

This would be a good time to read The Rise and Fall of the Great Powers, by Paul Kennedy. I read this a number of years ago. If I remember correctly, according to Professor Kennedy, great powers fall when their economic engine can no longer support the expenses of being a super power. I think America is heading in that direction. It appears you feel the same way. And I agree with you; we have to be able to create jobs and grow the economy. Without that, America doesn't have the tax base to continue on its current path.

Tim

 

[tim114]

As for all the politicians out there, and the pundits, and the experts, be careful. Many are self-serving and some are well-meaning, but wrong. George W. Bush: The economy is healthy. Alan Greenspan: There is no housing bubble. Barney Franck: Fanny and Freddie are sound. Ben Bernacke: I see no inflation. I would suggest you do you own research, as best you can, and form your own opinion. There is a lot of bullshit out there and a lot of it comes down to making a buck or staying in power (which often comes down to making a buck).

Tim