The crashing of the US.......most interesting
The Crashing U.S. Economy Held Hostage
Our Economy is on an Artificial Life-support System
by Richard C. Cook
................................The question is not when will the system start to come down, because this has already begun. It’s shown most clearly by the fact that according to Federal Reserve data, M1, the part of the money supply most readily available for consumer purchases, is not only lagging behind inflation but has actually decreased in eleven of the last twelve months. This means that the producing economy is already in a recession.
The federal government is trying to figure out what to do. Their biggest concern is that foreign investors have started to pull out of dollar-denominated markets.
The government’s “plunge protection team”—known officially as the President’s Working Group on Financial Markets—is trying to engineer what they call a “soft landing.”
It’s been likened to the process by which you cook a frog in a pot where you raise the temperature one degree a day. The frog doesn’t hop out because the heat goes up gradually, but before long it’s too late. The frog has been cooked.
Even if the plunge protection team succeeds, and the frog cooks slowly, there will be a massive de facto default on dollar-denominated debt and a long-term degradation of the U.S. standard of living. The inside word is that we are likely to see major monetary shocks and a possible stock market crash as early as December 2007.
The worst off will be people locked into retirement funds which have a heavy load of mortgage-related securities. Entire investment portfolios are likely to disappear overnight.
See this most interesting article at: http://www.globalresearch.ca/index.p...xt=va&aid=6239
I've been waitin' for this for a loooong time...
There has been NO, *true* leadership in the US for over 30 years...we've been coasting...
GWB really is the closest thing to "What me worry?"
Now, as the ball of twine of our society unravels..
Buckle up.....
Barry
US Dollar.....................
Actually a few minutes ago that Canadian Dollar gained 3 cents against the US Dollars and went from $ 1.05 to $ 1.08 since early this morning.
Over the last 12 month the US Dollar has dropped 45% against the Canadian currency.
I was in FLA this weekens, and missed out on
meeting you and the properties...Damn!
Barry
Comments.............................
Quote:
Originally Posted by
chip anderson
Do you really believe that if the U.S. economy crashes, Canada and the rest of the world will be very far behind?
Another note, when the U.S. economy really hits the dregs there is always another World War that occurs to put things right again.
Chip
Chip, Actually Canada and the rest of the world will be right behind, it looks that everything seems to be tied together.
I am not predicting gloom, I am just interested in world happenings and how these happenings are tied together.
Looking at some of the other post's I see braheem who lives in Florida did the right thing, has the money and bought some property at rock bottom which is probably way below evaluation..
However he will also have to pay the taxes and the insurance which just about have doubled in S.Florida over the last 2 years.
There are always that believe that another world war will lift the economy, it may, but only on a temporary basis.
Quote:
Originally Posted by rbaker
Do any of you recall “The Whiners” on SNL? Now I know what happened to them. They seem to be alive and well here on OptiBoard. It seems that life’s losers are always the ones who predict doom and gloom. For them it is a self fulfilling prophecy. Then, there are those who see economic setbacks as opportunities. These are life's winners.
baker....The red highlighted text tells me that you did not even bother to read the linked article which proposes solutions to the problem, but proceed with comments about lifes loosers oon Optiboard who predict gloom and doom.
This seems to be typical for people that make comments without getting fully informed.
It is now 4.45 am on November 7th and at 4.30 it announced in the news that the Canadian Dollar is now trading at $ 1.10 against the US $, which is a full 2 cents more since yesterday afternoon. This result represents a drop of over 40% in 4 month.
I bet, that this will not alarm you, you probably just wont go to Canada and drink their beer because everything will more expensive by 40% when you go with your US Dollars.
Quote:
Originally Posted by Johns
It all depends on where you're at, and what business you're in. I hear the optical business is in a major slump, but you wouldn't know it from some of the people I met out in Vegas, and you wouldn't it if you asked my employees.
The people you meet at shows are always saying that times were never that good. In a slump there are always some that are doing better than others, because they have adapted to the situation with proper foresight.
Same way of thinking.....................
Quote:
Originally Posted by
Johns
I wasn't talking about vendors, I was talking about the people sitting next to me in the suites that were waiting to buy. They were putting their money where their mouth was.
Vendors will usually say everything's good...
Am I right assuming that you did the buying in a hotel suite instead of the show. There are always a lot of companies setting up their booth in hotel suites to get around the exhibition cost. T direct and for less.hey are usually the ones that sell
If that is the case I would assume that you are right because they adopted the same business system as you do.
Dollar slides to historic lows.............................
Dollar slides to historic lows
Wed Nov 7, 2007 7:27am EST
LONDON (Reuters) - The dollar fell on Wednesday to historic lows of $1.47 per euro and $2.10 to the pound on expectations of further U.S. interest rate cuts to limit damage from an ailing housing market.
The dollar slid further after comments from senior Chinese officials stirred concerns about its central bank shifting reserves away from the U.S. currency.
See whole story at: http://www.reuters.com/article/hotSt...17880720071107
China price increase.........................
Quote:
Originally Posted by
For-Life
Now that the position has been switched, the American prices could go up as much as 40 percent.
China was going to increase prices by 20% on January first. with the happenings over the last few days they might even make the move earlier.
Todays news, China may dump greenback...................
China may dump greenback from its foreign currency reserves
ZHOU XIN AND EADIE CHEN
Reuters
November 7, 2007 at 7:37 AM EST
BEIJING — China delivered a one-two punch to the dollar as a top lawmaker suggested a bigger role for the euro in its $1.43-trillion (U.S.) hoard of foreign reserves and a central banker said the dollar is losing its global currency status.
The euro hit a record high above $1.47 following remarks on Wednesday by Cheng Siwei, vice-chairman of the standing committee of the National People's Congress, China's parliament, pointing to diversification of the country's reserves.
Read the whole article at: http://www.reportonbusiness.com/serv.../Business/home