Power is changing hands in the world... deficit spending can't go on forever without

dstark · October 21, 2007, 12:11am

repercussions.

These stories are related.

<a href=“http://news.yahoo.com/s/nm/20071020/bs_nm/imf_dc;_ylt=AqvoVmf97lKSkoGEPv_pmlmb.HQA[/url]”>http://news.yahoo.com/s/nm/20071020/bs_nm/imf_dc;_ylt=AqvoVmf97lKSkoGEPv_pmlmb.HQA</a>

<a href=“http://news.yahoo.com/s/nm/20071020/bs_nm/imf_rato_dc;_ylt=AhwbwJoP01N4STS1gGugGrmb.HQA[/url]”>http://news.yahoo.com/s/nm/20071020/bs_nm/imf_rato_dc;_ylt=AhwbwJoP01N4STS1gGugGrmb.HQA</a>

Defense spending can only get you so far. He who has the money rules. Our bailouts to help the banking, brokerage industry and home buyers has consequesnces. The standard of living in the US is going down.

Our trade deficits are outrageous. China is not doing what Japan did in the 80’s. China is not buying golf courses. They want to buy technology and money firms like private equity firms.

Let’s just trash the dollar.

“I think we are going to have a doozy of a recession,” Robertson told CNBC’s Erin Burnett. “I think the credit situation is worse than anybody realizes, and…I think we’re getting little inklings of that. I don’t think any of the normal indicators you would look at in the economy are really very strong. As a matter of fact, they are weak, and not really getting any better.”

Robertson, founder of the investment firm Tiger Management, also expressed some concerns about the devaluation of the dollar.

“I think the Federal Reserve will trash the dollar until such times that there is some turn around in the economy, or until such time that they see that as self defeating,” he said.

Robertson explained that a weak dollar helps companies that export products outside the U.S.

According to Robertson, Bernanke is doing what he can to help the economy.

“I think in a sense, he is trapped in the sins of his forefathers,” Robertson said. “I think he is doing exactly what he can do: ease ease, ease; cut, cut, cut; print, print, print.”

<a href=“Bloomberg Politics - Bloomberg”>Bloomberg Politics - Bloomberg;

And this Mishkin guy is a complete idiot. No wonder the dollar is falling. Eight percent in a year against the Euro. Insane.

Let’s target inflation. Then let’s not count what’s inflating and say we met our targets. :)

I am really disgusted by our monetary policies. Can you tell? :)

I’m not too thrilled with our fiscal policies either. :)

mini · October 21, 2007, 12:19am

I’m not quite sure why I’m supposed to descry the success of European and Third World countries in harnessing the energy and resourcefulness of their people in raising their relative standard of living and quality of life. Wasn’t that the entire Clinton/Gore neo-liberal promise of “free trade”?

As to China, guess we can no longer say that Communist rule doesn’t work, can we? Isn’t that why so many American companies are moving to Ganghzhou (or to Dubai, for that matter?) :)

(Exactly what do poorer retired people purchase in large quantitites besides food and energy? Let 'em eat toys made in China!)

dstark · October 21, 2007, 12:21am

There is nothing wrong with third world countries and Europe raising their standards of living. It’s not supposed to be a zero sum game. Our living standards are supposed to go up too. :)

mini · October 21, 2007, 12:23am

Why? Won’t that produce global warming? And who is this “our” you keep referring to, kimosabe?

dstark · October 21, 2007, 1:11am

"And who is this “our” you keep referring to, "

I better stop using pronouns. :)

“Our bailouts to help the banking,”

Our is government.

“Our trade deficits are outrageous”

Our is United States.

“am really disgusted by our monetary policies. Can you tell?”

Our is the Federal reserve.

I’m not too thrilled with “our” fiscal policies either.

Our is government.

“Our living standards :”

Our is Americans.

That’s pretty bad. :)

Well, I understand myself. :)

And the people I know in real life understand me too. :)

This thread was poorly written. Luckily it will have a short life. :)

thisoldman · October 21, 2007, 1:50am

Any high school AP economics student could figure what will happen given our current path. Unfortunately, the hs student, is currently too concerned about other things.

Give me a few postings, and this thread will take off.

dstark · October 21, 2007, 11:14am

Power is changing hands in the world… deficit spending can’t go on forever without

<hr>

repercussions.

Maybe a little more coherent. Rewriting the first post.

These stories are related.

<a href=“http://news.yahoo.com/s/nm/20071020/...GEPv_pmlmb.HQA[/url]”>http://news.yahoo.com/s/nm/20071020/...GEPv_pmlmb.HQA</a>

<a href=“http://news.yahoo.com/s/nm/20071020/...S1gGugGrmb.HQA[/url]”>http://news.yahoo.com/s/nm/20071020/...S1gGugGrmb.HQA</a>

Defense spending can only get you so far. He who has the money rules. The US government bailouts to help the banking, brokerage industry and home buyers has consequences. The standard of living in the US is going down.

The United States trade deficits are outrageous. China is not doing what Japan did in the 80’s. China is not buying golf courses. They want to buy technology and money firms like private equity firms.