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Is our country becoming a 3rd world nation?
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stevenbard



Joined: 11 Nov 1993
Posts: 4228

PostPosted: Sat May 11, 2013 12:45 am    Post subject: Reply with quote

PBS says that govt money printing will destroy our economy....

http://www.pbs.org/newshour/businessdesk/2013/05/the-stockholm-syndrome-and-pri.html
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isobars



Joined: 12 Dec 1999
Posts: 14319

PostPosted: Sat May 11, 2013 11:22 am    Post subject: Reply with quote

stevenbard wrote:
PBS says that govt money printing will destroy our economy...
World history from Athens ~450 BC to the UK today agree 100%, as a knee-high stack of economics history books at my elbow explains in great detail. Bernanke agrees, but hopes he can be the first exception in history. We'd better pray he's right and history is wrong.

I'm not betting on it.
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swchandler



Joined: 08 Nov 1993
Posts: 5888

PostPosted: Sat May 11, 2013 12:27 pm    Post subject: Reply with quote

Bard, did you actually read the PBS article? There were two takes on the situation, and PBS's Paul Solman wasn't supporting the apocalyptic view. I think that you're seeing what you want to see... the apocalyptic picture.
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keycocker



Joined: 10 Jul 2005
Posts: 3456

PostPosted: Sat May 11, 2013 12:35 pm    Post subject: Reply with quote

The interesting part was that it was a Bush appointee heading the IRS, but it was still Obamas fault.
Wind has sucked in Maui for a month. Why is Obama ruining that too?
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stevenbard



Joined: 11 Nov 1993
Posts: 4228

PostPosted: Sat May 11, 2013 12:45 pm    Post subject: Reply with quote

keycocker wrote:
The interesting part was that it was a Bush appointee heading the IRS, but it was still Obamas fault.
Wind has sucked in Maui for a month. Why is Obama ruining that too?


I thought it had sucked for more than that KC! I never said Bush or Obama were at fault. However we should all prepare for the consequences, good or bad.
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keycocker



Joined: 10 Jul 2005
Posts: 3456

PostPosted: Sat May 11, 2013 1:54 pm    Post subject: Reply with quote

Yeah Bard. You don't seem confused at all about the Gov.
We both think it has been deplorable for a long time.
I am not mad at presidents, because I know it is Congress that writes laws, changes taxes, and that real humans who are fallible run the IRS.
I once thought it would help to throw the bums out and replace them with non professional pols.
Now the the "bipartisan" Teas have done that I see that was just as good an idea as having the janitor work on my car.
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mac



Joined: 07 Mar 1999
Posts: 5356

PostPosted: Sat May 11, 2013 2:03 pm    Post subject: Reply with quote

Most of the government is at the local level, where you can get involved and change things. Someone wise told me, when I was complaining about something, that the best thing to do was change it if I thought it was important. Have any of the complainers here done that?
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keycocker



Joined: 10 Jul 2005
Posts: 3456

PostPosted: Sat May 11, 2013 4:04 pm    Post subject: Reply with quote

If you go to your county party meetings you will find mostly empty chairs.
Try running for party office and you may find yourself the Chairman just by bringing along ten friends.
Next election cycle you will be in the capital as a representative to the State Convention.
There are very few folks willing to do this. Your voice can be heard.
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pointster



Joined: 22 Jul 2010
Posts: 223

PostPosted: Mon May 13, 2013 11:57 am    Post subject: Reply with quote

stevenbard wrote:
PBS says that govt money printing will destroy our economy....

http://www.pbs.org/newshour/businessdesk/2013/05/the-stockholm-syndrome-and-pri.html


If the arguments of Terry Burnam are correct, then why haven't we already seen the effects of the increased money supply? Where's the inflation? Why hasn't the dollar plummeted? The FED has been doing quantitative easing for years, how does Burnaham explain the delayed effect?
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stevenbard



Joined: 11 Nov 1993
Posts: 4228

PostPosted: Mon May 13, 2013 3:14 pm    Post subject: Reply with quote

That's a good question Poinster, however, why pay taxes when the govt can just print what it needs?

I'd say that at least 50% of investors dread the day of reconing. I heard somewhere that the 10 year rate had moved up 1.5% in one week during the 70's. If that happened today, there would be blood in the street. And....

You have to ask yourself whe DHS has bought almost 2 BILLION ROUNDS OF HOLLOW POINT AMMO this year? Hollow point ammo is outlawed internationally for use by armys, but not on the streets of America. They have bought armored vehicles with rubber tires and high caliber weapons for street warfare. Why? DHS is not the military.

Am I buying gold, ammo, guns? No. Am I interested? Yes. I think something could go wrong.

Meanwhile it's blowing 22 mph, the water is 65 and there's a building swell. So I'll put my baseball hat on backwards and go to the beach.
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