How long will the country
- Thread starter newatit2010
- Start date
RyanTheRhino
Well-Known Member
actually 41 billion a month until no date give. hyper inflation here we come
oh wait we aren't talking about qe3
ChesusRice
Well-Known Member
RyanTheRhino
Well-Known Member
at this rate realistically. every month our money is worth 0.28% less
ChesusRice
Well-Known Member
If you dont like the fiat money
Send it my way
thehole
New Member
Well as soon as we rid this nation of religious rightwing nazis we will be just fine.
If you expect a serious response post a serious question. Our government has been spending billions on useless shit for many decades. Quit being a fucking racist. It's not the individual it's the system.
If you expect a serious response post a serious question. Our government has been spending billions on useless shit for many decades. Quit being a fucking racist. It's not the individual it's the system.
Ringsixty
Well-Known Member
Don't leave out all the other media outlets too. Be fair and balanced.
Carne Seca
Well-Known Member
Basically, you're right. Right now we are headed for the second dip of a double dip recession. There is speculation (which I concur with) that it will actually sink into a Depression of epic proportions. O'Bama's second term (with a Democrat majority) can circumvent this but people are stupid and I'm pretty sure we're headed for a lame-duck presidency.
RyanTheRhino
Well-Known Member
yay our turn to say we got handed a shitty situation..
funny I lean more Romney and think Obama will win & you lean Obama and think Romney will win.
but we really are heading to hyper inflation now. don't know who you follow but that could be the cause to their mean.
Its not just that we lose 0.28 % in the value of our currency but that unemployment is higher and wages are @ a frozen set level. That loaf of bread will continue to get more expensive but your salary wont.
to chesue i have nothing against fiat money but if wages don't rise with it the system will fail.
ChesusRice
Well-Known Member
I got a huge huge huge raise
Unemployment varies by region
but the fact is
If you cannot find a job after 99 weeks of looking
The economy is not your problem
And while you should be scared of inflation
Why not google historical inflation rates
Padawanbater2
Well-Known Member
Here's a fun fact!
No nation in history has come back from a +$10 trillion debt, not one.
Enjoy the rest of your weekend!
No nation in history has come back from a +$10 trillion debt, not one.
Enjoy the rest of your weekend!
We aren't talking about government. The Fed ( federal reserve) is not part of the government.
Historical inflation rates? 41 years isn't much to compare really.
NLXSK1
Well-Known Member
The fed only spends 3-4 billion a year (relatively small) and gives all the rest of the interest back to the treasury. That is a pretty fucking generous private corporation there...
The government runs the fed.
Why would the Fed care about getting a bunch of dollars when it can create as many dollars as it wishes with no one to stop them?
Do you remember anyone giving the Fed permission to print up $16 trillion last year and giving it to EUROPEAN banks?
In one year they gave away more money than the US public has in total debt after the last 177 years.
There is no agency in government that can overrule any decision the fed undertakes. None.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x287788
The Fed is an "Independent Entity" within the government, it is not part of government and no part of government has any say.
ChesusRice
Well-Known Member
all the way back to 1914.
http://www.usinflationcalculator.com/inflation/historical-inflation-rates/
NLXSK1
Well-Known Member
How can something be an independent entity WITHIN the government but not be part of the government??? ( I know it is semantics but important semantics).
mr2shim
Well-Known Member
Federal Reserve Act of 1913. Learn your history. We gave away control of the money so another stock market crash wouldn't happen(Panic of 1907). The Fed was suppose to prevent that. Guess what happened in 1929. Fear, plays a disgusting role in American's giving away their freedoms. Worked then, works now.
http://en.wikipedia.org/wiki/Federal_Reserve_Act_of_1913
ChesusRice
Well-Known Member
In terms of the initial 1931 downturn, historians emphasize structural factors and the stock market crash as well as bank failures, while economists point to Britain's decision to return to the gold standard at pre–World War I parities ($10.98 Pound).[SUP][9][/SUP] The vast economic cost of World War I weakened the ability of the world to respond to a major crisis.
Banks began to fail in October 1930 (one year after the crash) when farmers defaulted on loans. There was no federal deposit insurance during that time as bank failures were considered quite common. This worried depositors that they might have a chance of losing all their savings, therefore, people started to withdraw money and changed it into currency. As deposits taken out from the bank increased, the money multiplier decreased, which means that money circulation slowed down. This led to a decrease in the money supply, and an increase in interest rate and a significant decrease in aggregate investment.
The US government's commitment to the gold standard prevented it from engaging in expansionary monetary policy.[SUP][clarification needed][/SUP] High interest rates needed to be maintained, in order to attract international investors who bought foreign assets with gold. However, the high interest also inhibited domestic business borrowing.[SUP][citation needed][/SUP]
Economists dispute how much weight to give the stock market crash of October 1929. According to Milton Friedman, "the stock market in 1929 played a role in the initial depression." It clearly changed sentiment about and expectations of the future, shifting the outlook from very positive to negative, with a dampening effect on investment and entrepreneurship, but some feel that an increase in interest rates by the Federal government could have also caused the slow steps into the downturn towards the Great Depression.[SUP][10][/SUP] Thomas Sowell, on the other hand, notes that the rise in unemployment had peaked at 9% two months after the crash, and had fallen to 6.3% by June – he blames the later unemployment rate on the tariffs that Hoover passed against the advice of economists in that same month, and says that six months after their implementation unemployment rose to the double digit figures that characterized that decade.[SUP][11][/SUP] Recent research has pointed to the effects of capital taxation on property, capital stock, excess profits, undistributed profits, and dividends on the severity of the Great Depression, noting such taxation's role in significant declines in investment and equity values and nontrivial declines in gross domestic product and hours of work.[SUP][12][/SUP]
The US interest rates were also affected by France's decision to raise their interest rates to attract gold to their vaults. In theory, the U.S. would have two potential responses to that: Allow the exchange rate to adjust, or increase their own interest rates to maintain the gold standard. At the time, the U.S. was pegged to the gold standard. Therefore Americans converted their dollars into francs to buy more French assets, the demand for the U.S. dollar fell, and the exchange rate increased. The only thing the US could do to get back into equilibrium was increase their interest rates.[SUP][citation needed][/SUP]