Got 1.5 trillion to spare?

So all the talk is about health care these days, seems like the far more important subject of economy has been forgotten.

Lets sum it up shall we?

We (The taxpayer) have GIVEN 1.5 trillion Dollars to the big banks so they would not collapse. They in turn have purchased under performing banks and investment firms ( Wachovia, Merrill Lynch etc ) with that money and the rest they then LEND AT INTEREST back to the USA to fund its expenses and deficits. Between the Wars and the Bailouts the govt has already spent all its income, so they must sell T-Bills and T-Bonds ( US debt) to either foreign countries or have it Monetized by the Federal Reserve in order to pay employee pensions and paychecks, pay the utilities, provide for infrastructure, pay for welfare programs, pay for Cash For Clunkers etc etc etc, all the stuff that government spends money on.

Why do we do this? We take our own money and give it to someone else so that they can then lend it back to us and we will pay them interest? Economic Suicide.

China is Actively promoting gold and silver sales to the public, all Chinese banks now carry bullion so that the average citizen can buy on the spot. What does this mean? The end of the Dollar, because Gold and Silver are real money and are treated as such by all the big banks. You see the big banks don't pay their bills with currency, they pay with Gold. When you have the largest Country all of a sudden come on line and start buying all that metal, its a pretty good bet that the price of G & S is going to rise. When the price of gold rises, the American dollar loses value. When gasoline is $10 a gallon along with Milk and Bread you will know what this means. Your new cash for clunkers 35MPG vehicle will be too expensive to drive anywhere.

Rant off, continue to ignore the economy because of the temporary Stock market bubble and the Health care issues to your own detriment. Suggestions: Sell all US Dollar denominated stocks and Bonds, purchase Canadian or Asian stocks and bonds. Buy as much gold and silver as you can. Buy Guns, Ammo, Whiskey, Sugar and hope it all doesn't go to crap.

NoDrama said:

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funny
LOL!

how much does it cost to fund a war? =-/

fdd2blk said:

how much does it cost to fund a war? =-/

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will let you know when they are over.

2 wars.

Cap n trade taxes looming.

Crashing dollar.

9.7+% unemployment.

A healthcare "fix" that'll make the 55 million who could not afford healthcare previously...HAVE to afford it now. Yeah right. You see when PEOPLE do not have $$$...they simply do not have it. They are not legally allowed to print some.

Oh yeah and Obama is really "punishing" insurance providers by forcing them to get 55 million new customers.

fdd2blk said:

how much does it cost to fund a war? =-/

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Lookeee heeeeree!!!

http://costofwar.com/

i hear ya nodrama....only a fool would be suckered into this stock market rally for any length of time.

As long as Obama is doing well...... it's A-OK!!




Party Boy Obama Livin’ It Up Like Royalty While Americans Struggle to Buy Food

Posted By Vicki McClure Davidson on March 3, 2009
By Vicki McClure Davidson * Frugal Café Blog Zone
The Dow is down… again. Major stock market indexes have fallen to levels not seen in decades. While stocks are plunging to record lows, Americans are having an increasingly harder time to buy food, pay their mortgages, keep their heat on. Confidence in the new president and the new Washington administration has dropped dramatically in the past week. Wall Street does not look at the economy emotionally, but realistically. The signs are that the new steps taken by the president are not embraced, not supported, and are detrimental to our nation’s financial stability. His operating budget exceeds that of any in history, and has an unprecedented 9,000 earmarks. Buyers’ remorse is setting in.
Here’s a tracking chart of what the Dow looks like from the beginning of Barack Obama’s “porkulous package” spending spree through today. How concerned is the new White House administration about this non-stop plummet? Not very.

Dow graph, from when Obama's porkulus package was approved through today

A compassionate president who has the nation’s best interests at heart would appear to also pull in the belt and curtail spending. Not with our current POTUS. Not only is he spending taxpayers’ dollars on expanding government and entitlement programs, he is having a heyday of expensive partying, of “livin’ it up with style” unlike former Pres. Bush EVER did.
“Stop the ACLU” has a great article today chronicling the White House/Obama elitist double-standards (”it’s gonna be tough,” “hard times ahead,” gotta get “skin in the game”), which has been ignored in the mainstream media. Here is a portion of the piece:To read the hit-the-nail-on-the-head post in its entirety, go to Obama Still Partying While Nation Burns.
Another great post appears today in Michelle Malkin’s blog: Obama’s sorry cultists. A portion of her post:Let us not forget his Valentine’s Day splurge, flying the family, including Grandma, and WH staff members on the presidential jet to Chicago so that he and First Lady Michelle could have dinner at the posh restaurant owned by Oprah’s chef. Obama’s last-minute decision, we’ve found out, cost local businesses thousands of dollars in restaurant bookings. And they were already struggling as a result of the tanking economy. Not only were aircraft grounded or delayed because of his arrival to the Chicago airport, but dozens of hapless restaurants within the perimeter of his romantic dinner were blocked off to the public. One near-by small-plane company reportedly lost $50,000 because the owner had to return all the pre-paid money couples had paid weeks prior to have an intimate, fun Valentine weekend flight, some wanting to “pop the question” while flying over the city. The couples, too, were denied access and had to scurry to find somewhere else to celebrate the weekend with their Valentine sweethearts. Lost $50,000? That’s SERIOUS money in any business. But, at least the Prez and First Lady were taken care of and ate well… not that there aren’t a few posh restaurants in the DC area that would not necessitate a mammoth gas-guzzling jet to get to, right?
UPDATE: Forgot to include Obama’s beloved $100-per-pound steak from Japan. Must be yummy… too bad most of the American taxpayers who PAID FOR IT have never tasted it before. Anger just doesn’t fully describe or express how we feel about this conspicuous consumption by our supposed POTUS, our (temporary) steward of the Constitution. Obama is acting more like a spoiled-rich-kid frat boy with each passing week.
The country is rapidly losing its waves of good feelings for Obama, as his true agenda (socialism), recklessness with taxpayers’ money, and arrogance are being seen by more and more, even Democrats and supporters. Our days of the elected wastrel have only begun…

I've had some of that $100/Lb steak before, Kobe beef, mighty tasty!!

Yah, me too, but I always pay my own bill.

CrackerJax said:

Yah, me too, but I always pay my own bill.

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HAHA the only time I eat it is when the company has the yearly Christmas party, and THEY pay for it.

Remind me not to buy ur company's product in January...

why do you people continually insist that obama has anything but your best interest in mind. all he wants you to do is save the world by selling all your stuff. this guy has absolutely no clue on economics or power. best quote that comes to mind is "let them eat cake". because he is as out of touch as any politician i have seen in 30 years of following politics. i would imagine the chinese and russians are back stage putting plans together for total world domination. God be with the USA

Copied this from: http://www.federalreserve.gov/newsevents/press/monetary/20090923a.htm




Press Release

Release Date: September 23, 2009
For immediate release

Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilizing, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability.
With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time.
In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt. The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates that they will be executed by the end of the first quarter of 2010. As previously announced, the Federal Reserve’s purchases of $300 billion of Treasury securities will be completed by the end of October 2009. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.


This is not good news folks, They are going to shut off the flood of money going into the markets by end of March '10. Might wanna get out while you can.

NoDrama said:

Copied this from: http://www.federalreserve.gov/newsevents/press/monetary/20090923a.htm




Press Release

Release Date: September 23, 2009
For immediate release

Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilizing, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability.
With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time.
In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt. The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates that they will be executed by the end of the first quarter of 2010. As previously announced, the Federal Reserve’s purchases of $300 billion of Treasury securities will be completed by the end of October 2009. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.


This is not good news folks, They are going to shut off the flood of money going into the markets by end of March '10. Might wanna get out while you can.

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Another graduate of the Glenn Beck school of reading comprehension.

The FED is buying US securities, to the tune of some 300 billion dollars. You know what that REALLY means? They are buying 300 billion dollars worth of US debt. This is not a bad thing, it's essentially a 300 billion dollar loan, and it's what the fed does.

doobnVA said:

Another graduate of the Glenn Beck school of reading comprehension.

The FED is buying US securities, to the tune of some 300 billion dollars. You know what that REALLY means? They are buying 300 billion dollars worth of US debt. This is not a bad thing, it's essentially a 300 billion dollar loan, and it's what the fed does.

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HAHA you obviously can't comprehend what your reading Doob. I Know how hard it is when you are playing off the Obama currency destruction work sheet. They aren't buying just 300 billion worth of debt ( Thats called monetizing the debt BTW) they are injecting 1.75 trillion in hopes of keeping the markets going strong, BUT they are going to slowly ease off the Market side until 1st quarter 2010, then they are going to totally stop buying anything. Thats when you see your stock market come crashing down, since the fed is the only game in town right now.

FWIW The Fed does not normally buy US debt because it causes among other things INFLATION. Its not a good thing, well unless your plan is to debauch the dollar, which then it IS a good thing. So if you want to live like a 3rd world country you just keep believing that buying our own debt at interest is a good thing.

FWIW Ive watched Glenn Beck 2 times in my entire life, i come from the Economic School of reality, not from your Keynesian school of currency destruction and ponzi finance.

NoDrama said:

HAHA you obviously can't comprehend what your reading Doob. I Know how hard it is when you are playing off the Obama currency destruction work sheet. They aren't buying just 300 billion worth of debt ( Thats called monetizing the debt BTW) they are injecting 1.75 trillion in hopes of keeping the markets going strong, BUT they are going to slowly ease off the Market side until 1st quarter 2010, then they are going to totally stop buying anything. Thats when you see your stock market come crashing down, since the fed is the only game in town right now.

FWIW The Fed does not normally buy US debt because it causes among other things INFLATION. Its not a good thing, well unless your plan is to debauch the dollar, which then it IS a good thing. So if you want to live like a 3rd world country you just keep believing that buying our own debt at interest is a good thing.

FWIW Ive watched Glenn Beck 2 times in my entire life, i come from the Economic School of reality, not from your Keynesian school of currency destruction and ponzi finance.

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For NOW, it's a good thing. Long-term, not so much, but right now we need the money and selling securities to the fed is the only way we're going to get it. Foreign demand for US securities is way down, China has reduced its security holdings and our chances of suckering some other country into buying our debt are pretty much nonexistant.

We all know the fed sucks, but right now they are the only ones willing to buy securities. And since our country isn't actually making any money, monetizing the debt is the only way we can continue to operate. Our debt isn't going away any time soon, in case you haven't noticed.

It means they have already shot their wad. The FED doubled the currency in cuirculation before Obama took office. then the govt. borrowed like crazy, and produced hardly any results with that money. That's called.... failure.

The FED has NO CHOICE but to reign in the money, lest inflation and devaluation of the dollar become more of a problem then they are already. The dollar slides and slides, making the uphill slope even steeper for everyone..... thanks govt!!

It is of course the private sector which is recovering DESPITE the govt. meddling. As usual. Another indication that Obama hasn't a clue on how to fix the economy.

It's all trying to counteract the inane spending policies of a govt. when it is broke.

Can the private sector save us from Obama? Perhaps.... but at a cost... always.

It's the Asian markets NODRAMA.... that's where you should be investing right now. They are on fire over there. Outperforming Obama's economy completely. Now that is embarrassing, but profitable for the keen minded.