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Thread: The sky has finally fallen...
12-04-2010, 11:53 PM #409
The west still does not see what is coming from China's recent decision to increase its yuan as a future reserve currency. China's currency swap strategy has been helpful in promoting increased trade between countries especially in periods of financial stress caused by the US dollar and its Quantity Easing.
Here is something that explains in a general and brief way how it works http://www.shadowbankers.wordpress.c...rrency-policy/.
Hong Kong has been chosen as the experiment center for future "internationalization of the yuan", http://www.ibtimes.com/articles/8843...oss-borde.htm#.
12-06-2010, 09:54 AM #410
here's another accusation... on obama... its a big or some say.. small circle.. wonders of human being.. not technology. lol
this is juicier than wikileaks man.. lol.
12-07-2010, 08:09 AM #411
wow.. this wikileaks guy is going to have a hard time. All accounts frozen. Interesting stuff.
Any aussies here to comment? What about the embassy? Big news indeed.
12-08-2010, 04:45 AM #412
If it hasn't gotten any worse..
..i'm sure some of you have read this news..
Mon Dec 6, 9:36 am ET
Government canít print money properly
By Zachary Roth
As a metaphor for our troubled economic and financial era -- and the government's stumbling response -- this one's hard to beat. You can't stimulate the economy via the money supply, after all, if you can't print the money correctly.
Because of a problem with the presses, the federal government has shut down production of its flashy new $100 bills, and has quarantined more than 1 billion of them -- more than 10 percent of all existing U.S. cash -- in a vault in Fort Worth, Texas, reports CNBC.
"There is something drastically wrong here," one source told CNBC. "The frustration level is off the charts."
Officials with the Treasury and the Federal Reserve had touted the new bills' sophisticated security features that were 10 years in the making, including a 3-D security strip and a color-shifting image of a bell, designed to foil counterfeiters. But it turns out the bills are so high-tech that the presses can't handle the printing job.
More than 1 billion unusable bills have been printed. Some of the bills creased during production, creating a blank space on the paper, one official told CNBC. Because correctly printed bills are mixed in with the flawed ones, even the ones printed to the correct design specs can't be used until they 're sorted. It would take an estimated 20 to 30 years to weed out the defective bills by hand, but a mechanized system is expected to get the job done in about a year.
Combined, the quarantined bills add up to $110 billion -- more than 10 percent of the entire U.S. cash supply, which now stands at around $930 billion.
The flawed bills, which cost around $120 million to print, will have to be burned.
The new bills are the first to include Treasury Secretary Tim Geithner's signature. In order to prevent a shortfall,the government has ordered production of the old design, which includes the signature of Bush administration Treasury Secretary Henry Paulson. That, surely, is not the only respect in which the nation's lead economic officials would like to turn back the clock to sometime before the 2008 financial crisis.
12-08-2010, 08:34 AM #413
I like those jesse ventura youtubes on GS. Solid.
01-15-2011, 09:55 PM #414
One more proof..
..of the U.S. economy and housing market still slip-slidin' away..and this yr, they still expect more foreclosures coming..
Btw, master silentheart, any comment on the new 66% (income) tax hike for IL?....i know CA is next with the tax hike..
White House loses nearly a quarter of its valueBy Holly Bailey
By Holly Bailey holly Bailey – Wed Jan 5, 11:46 am ET
On paper, it sounds like a property to die for: 132 rooms, including 16 bedrooms and 35 bathrooms, with 28 fireplaces, a tennis court, a bowling alley and an attached garage spread out over 55,000 square feet on 18 acres of centrally located land.
But the White House, as enviable a property as it is, hasn't been immune from the nation's housing crisis.
As syndicated columnist Lew Sichelman first noticed, the property value of the White House has lost nearly a quarter of its value over the last three years, according to the real estate site Zillow. In fact, in the last month alone, the White House's estimated property worth has dropped nearly $5.5 million.
At the height of the 2007 housing boom, the White House was valued at roughly $332 million. In January 2009, when President Obama and his family moved in, the fair market value was listed as $292 million. Now Zillow says the property is worth just $252 million — even with all the redecorating the Obamas have done since moving in.
That's still an impressive net worth, considering the property was reportedly built at a cost of just over $232,000 (roughly $3 million in 2011 numbers). One reason it was so cheap: The construction crews were up largely of slaves.
Last edited by ctjcad; 01-15-2011 at 09:57 PM.
07-21-2011, 02:59 PM #415
dear master silentheart,
will there be a government shutdown on Aug. 2nd?..
what's your take on raising the debt ceiling and the "cut, cap and balance" bill? yay or nay or no choice but to raise it?..
07-22-2011, 05:15 PM #416
Ceiling will be raised. Compromise will be reached next week. However, credit will have a warning. Interest rate will go up a little. then come back down.
My question is, why do we have a debt ceiling at all? President just cry wolf and congress just raise it. When congress actually hold the ceiling, Obama just call them holding American hostage.
07-22-2011, 06:27 PM #417
In light of what just happen. Again, Obama is all talk and no detail. We are really screwed this time!
07-22-2011, 06:37 PM #418
07-23-2011, 02:26 AM #419
Here's a good read which relates to your graphs and the start of debt climb under Ronnie Reagan:
Last edited by ctjcad; 07-23-2011 at 02:29 AM.
07-23-2011, 03:04 AM #420
07-23-2011, 09:55 AM #421
07-23-2011, 10:18 AM #422
gold people. gold! lol.
07-23-2011, 10:32 AM #423
Broke Omama is a typical US CEO with a MBA degree from online university. He can see the problem. Just tell the people who report to him. Fix it and get back to me. Has no idea, no direction and no detail.
He is a politician made by Chicago machine. He keep trying to play Chicago style politics in DC. That prob will work if he did a few more terms in the Senate. Learn how congress play political game. Look how many term did JFK did. JFK was a rep from 1946 then run for senator in 1952. Served 8 years as senator.
Also, guess who voted against debt ceiling in 2006 and asking to raise now? He argue time is different now. Yes, the time is different from yesterday to today, from 11:00 to 12:00.
I have no problem to expire Bush tax cut (not just to wealthy, but to return to old code for every one) but welfare programs cut has to be done too. Everyone should share the pain, that is Bull Sh*t Obama said. Then do so. Not just say so, Why increase tax on the corp? If you raise 1% tax, corp will just increase price 1% or cut 1% workforce (this is just a simple idea. in reality, the impact could be even more, not too much less) to (1) maintain the profit or to (2) keep the door open. Would you call these tax increase on every one (1) job killer (2)?
Hope and change? Hope for the better and change for the worse.
07-23-2011, 10:32 AM #424
07-23-2011, 10:59 AM #425
I think its a vicious cycle. corp has no ceiling in terms of profit. how much is enough? so, cutting cost is the only way. too bad. Something is wrong with the 'sky's the limit' model. It feeds the rich and greed just 'a little too much'.
Just like in some other small country where when you voted them in, they raise their own salary to oblivion. Am sure you know which country it is. That's why they only have 60% majority left. Next election, I see less.