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Post by Naptaq on Nov 27, 2007 5:00:54 GMT -5
en.wikipedia.org/wiki/List_of_countries_by_current_account_balanceapperenty you'd need each USA citizen to pay somewhere between $20k and $30k to pay off the budget defecit. This concerncs me. I'd hope that the US government cuts spending in the next few years, because this is getting ridicolus. A weakening USD will hurt millions of Americans. A weakining currency hurts most the poor and the middle class people (which will become increasingly more poor-er). That's why on economical issues I support Ron Paul. The video that sparked me to write this post, is, of course, a pessimistic one, but I think it isn't that bad yet and, hopefully, the USA government will soon start to put more money towards reducing the defecit. Unless this is done, these "Market Meltdowns" will probably be a frequent occurence.. where the Fed has to pump money created out of thin air in the market so that the market doesn't crash and people don't lose their homes. But with that they inflate the currency-dollar and the ones that pay for it are the ones with the least money. It's a tough situation for the US government, because on one side it's doing what it thinks is the right thing to do, and then you have a 30% approval rating of the war in Iraq. If the USA pulls out too soon these miniroties in Iraq are gonna go civil war on each other.. I guess the moral of the USD stumbling is "don't spend beyond your means", but I'm not really sure anymore. But yeah it's always nice to have a little extra money!
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Post by Naptaq on Dec 2, 2007 16:03:37 GMT -5
By my estimation over 30% of the members of this forum are US citizens. Nobody has no thoughts on this? just tell me, is this too pesimistic, too liberal, too unrealistic, a lie or what? I just want to hear your thoughts on this. Or read rather..
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Post by phoenixferret on Dec 2, 2007 17:12:34 GMT -5
Why don't you cite a reliable source for a change of pace, instead of some wannabe-Michael Moore piece of melodrama? This post is not "too liberal," 'too pessimistic;" just completely lacking in sources that don't come off as single-minded propaganda.
Just how knowledgeable are you about economics? How much have you studied the subject--outside of YouTube videos? If, like me, you're no expert on economic theory, it makes it rather difficult to give an informed opinion.
If you really want to have a discussion instead of just plugging Ron Paul again--who, by the way, I am not voting for, period, just to clear that up--then post a *reliable* source. It doesn't need to necessarily be an article from a peer-reviewed journal of economics, but something relatively impartial, from a respectable source that examines the subject, "What is the future of American and world economy?" rather than dramaticizing a foregone conclusion.
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Post by MrNice on Dec 2, 2007 18:48:20 GMT -5
the economy is breaking apart america imports everything and produces nothing it can't go on forever this is even more gloomy though www.lifeaftertheoilcrash.net/
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Post by Naptaq on Dec 2, 2007 19:34:35 GMT -5
Why don't you cite a reliable source for a change of pace, instead of some wannabe-Michael Moore piece of melodrama? This post is not "too liberal," 'too pessimistic;" just completely lacking in sources that don't come off as single-minded propaganda. Well the piece is overdramatic, but the point is valid. The bank balance ain't some fictional thing. The deficit is growing daily, apperently and that's a fact too. The sourse was that wiki entry.. yeah I'm forming opinions based on what I know right now. But this isn't overly complicated in my opinion.. But I don't have a diploma or anything in economics. US government's been loaning money for a while now and it seems to have worked out fine, except for the weakening dollar. Obviously I plug in Ron Paul whenever I can. And I do hope I'm being too dramatical on this issue and that my concern is not based in reality. Since you're very fond of links www.whitehouse.gov/omb/budget/fy2006/outlook.htmlNow the reason that they state that the deficit "is declining" is in the second link. It seems they're moving the defecit from the public debt to extarnal debt: news.bbc.co.uk/2/hi/business/3430565.stmwww.usatoday.com/printedition/news/20060803/1a_coverart03.art_dom.htmwww.brillig.com/debt_clock/www.federalbudget.com/en.wikipedia.org/wiki/United_States_public_debtAs I understand the deficit can't bring down the economy since both the economy and the deficit are growing. As long as the deficit doesn't grow out of control or/and the US economoy is doing well then I guess it's sustainable. But I have to say that I personally have little confidence in the US dollar. In recent years it has been going down steadily if you compare it to the euro. And now the US dollar is the same as the canadian dollar, for crying out loud. So basicly the guy that hid $10000 a cople of years ago in his house, will get out a lot less then he put in.
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Post by Naptaq on Dec 2, 2007 21:00:13 GMT -5
the economy is breaking apart america imports everything and produces nothing it can't go on forever this is even more gloomy though www.lifeaftertheoilcrash.net/I don't know about that link, because they will probably develop something by the time oil runs out.. This Tesla Roadster looks cool. If they can make an electric sports car why not an electric ship? Or at least a hybrid, for starters. time will tell.. www.bloomberg.com/apps/news?pid=20601087&sid=aCs.keWwNdiY&refer=home"the dollar lost 34 percent since 2001" sounds about right. That means the guy who didn't put his $10.000 in the bank in 2001 basicly got robbed of $3.400 since the dollar is worth less.
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Post by phoenixferret on Dec 2, 2007 22:07:43 GMT -5
Why don't you cite a reliable source for a change of pace, instead of some wannabe-Michael Moore piece of melodrama? This post is not "too liberal," 'too pessimistic;" just completely lacking in sources that don't come off as single-minded propaganda. Well the piece is overdramatic, but the point is valid. The bank balance ain't some fictional thing. The deficit is growing daily, apperently and that's a fact too. The sourse was that wiki entry.. I didn't ask you for sources regarding the existence of a deficit or inflation, but nice job coming up with twenty of those. I'm asking you for legitimate sources describing the long-term effect on the economy and what is or is not being done about it. If you want to discuss a topic, give people something "real" to work with--something well-researched and clearly articulated. That said, ain't nothing I can do about the state of the economy--I don't know the specifics of what it's doing, and I don't know how to make it stop doing what it's doing... I try not to form particular opinions on things of which I know very little, and this is one of those things. LSdima, that link is... yeah, not too uplifting. I wonder what will in fact happen with the whole oil thing--whether new technology could in fact present itself before something really bad happens. Is anyone here actually "preparing" for an oil crash, or know someone that is? It doesn't sound like there's anything that most ordinary people could do that would make a difference and still be practical, anyway. Seems like the "moral" of that story is to enjoy the next 50 or so years as much as possible, and think twice about spawning, lol.
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Post by Naptaq on Dec 2, 2007 23:07:35 GMT -5
Well the piece is overdramatic, but the point is valid. The bank balance ain't some fictional thing. The deficit is growing daily, apperently and that's a fact too. The sourse was that wiki entry.. I didn't ask you for sources regarding the existence of a deficit or inflation, but nice job coming up with twenty of those. I'm asking you for legitimate sources describing the long-term effect on the economy and what is or is not being done about it. If you want to discuss a topic, give people something "real" to work with--something well-researched and clearly articulated. Economists are not fortune tellers. That's why nobody really knows what's gonna happen so they don't write about stuff they can't predict. For example nobody predicts where the future of Ford Motor Company lies and if their stock will go up for 20 years. Who knows. It might go broke in 10. In the "pessimistic one" Caas Maas said: "Eveybody knows the dollar could crash but nobody knows where it will start" Likewise with the US dollar and the deficit; you don't know what's gonna happen because a new war might come up, or a new president who has different policies and such. It can go either way. Long term predictions on where the dollar will go are pretty useless, in my opinion, if they even exist. The wiki entry about US public debt is very well articulated. Well that's why I'm rooting for Ron Paul. A new president, doesn't like to spend tax money, limited government.. you do the math. I ain't gonna convice you, but I might make others think.
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Post by MrNice on Dec 2, 2007 23:25:37 GMT -5
its not a question of running out - total oil output has been flat for the past 3 years - economy needs more oil to grow - economy does not grow = very bad things
electricity is produced using hydrocarbons - this has no effect on oil usage
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Post by MrNice on Dec 2, 2007 23:33:18 GMT -5
oh btw I came to a conclusion that following depressing economic news is bad for my shyness
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Post by Naptaq on Dec 2, 2007 23:35:18 GMT -5
electricity is produced using hydrocarbons - this has no effect on oil usage Yeah but if electricity is produced by an alternative source of energy then it makes a huge difference.
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Post by Naptaq on Dec 2, 2007 23:36:18 GMT -5
oh btw I came to a conclusion that following depressing economic news is bad for my shyness lol
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Post by Sweet Pea on Dec 3, 2007 0:06:06 GMT -5
oh btw I came to a conclusion that following depressing economic news is bad for my shyness i couldn't agree more.
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Post by Naptaq on Jan 31, 2008 11:13:17 GMT -5
Not that anybody cares, except me, but I withdraw my support for Ron Paul.
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Post by Richard Cunningham on Feb 1, 2008 23:58:04 GMT -5
en.wikipedia.org/wiki/List_of_countries_by_current_account_balanceapperenty you'd need each USA citizen to pay somewhere between $20k and $30k to pay off the budget defecit. This concerncs me. I'd hope that the US government cuts spending in the next few years, because this is getting ridicolus. A weakening USD will hurt millions of Americans. A weakining currency hurts most the poor and the middle class people (which will become increasingly more poor-er). That's why on economical issues I support Ron Paul. The video that sparked me to write this post, is, of course, a pessimistic one, but I think it isn't that bad yet and, hopefully, the USA government will soon start to put more money towards reducing the defecit. Unless this is done, these "Market Meltdowns" will probably be a frequent occurence.. where the Fed has to pump money created out of thin air in the market so that the market doesn't crash and people don't lose their homes. But with that they inflate the currency-dollar and the ones that pay for it are the ones with the least money. It's a tough situation for the US government, because on one side it's doing what it thinks is the right thing to do, and then you have a 30% approval rating of the war in Iraq. If the USA pulls out too soon these miniroties in Iraq are gonna go civil war on each other.. I guess the moral of the USD stumbling is "don't spend beyond your means", but I'm not really sure anymore. But yeah it's always nice to have a little extra money! But America so wants to buy those pretty red shoes. They're so cute! OMG, can't live without them! America's best friend already has them, the BITCH! Maybe America can "borrow" them. It worked with grumpy old man Iraq and his oil.
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