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Posted: 10/30/2006 4:32:28 PM EST
Nobel Prize winner Stiglitz highlights agenda of predatory globalism now arriving in America under auspices of NAFTA Superhighway, North American Union
Paul Joseph Watson & Alex Jones/Prison Planet.com | October 30 2006

Former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz has predicted a global economic crash within 24 months - unless the current downturn is successfully managed. Asked if the situation was being properly handled Stiglitz emphatically responded "no," and also drew ominous parallels to the development of the NAFTA Superhighway and the North American Union.

Stiglitz caused controversy in October 2001 when he exposed rampant corruption within the IMF and blew the whistle on their nefarious methods of inducing countries to fall under their debt before stripping them of sovereignty and hollowing out their economies.

Speaking on the nationally syndicated Alex Jones radio show, Stiglitz defined the process of globalization as a system that was "rigged against the poor countries, rigged for the advanced industrial countries - the result of that is there were an awful lot of losers."

The Columbia University Professor described how rampant privatization has crippled Mexico, in particular citing the sell-off of major infrastructure such as roads.

"They sold the roads to the private enterprise and the hope was that they would be more efficient but of course what happens is that they didn't maintain the roads, they couldn't generate enough revenue and they eventually had to default and give the roads back to the government."

Stiglitz agreed that the process of hijacking and looting key infrastructure on the part of the IMF and World Bank, as an offshoot of predatory globalization, had now moved from the third world to Europe, the United States and Canada.

These sentiments are especially disturbing when we consider the current fast-moving quasi-secret agenda to sell-off major American highways to foreign corporations who plan to turn them into toll roads for tracking and taxation purposes - collectively known as the NAFTA Superhighway. The program forms the framework for the advancement of the North American Union - a collective governmental, border and trading bloc that President Bush has signed the U.S. over to under the Security and Prosperity Partnership of March 2005.

As we previously reported , US citizens will be forced to adopt a de-facto national identification card and have their freedom of mobility defined by behavioral fealty to the government under proposals set to derive from NAFTA superhighway toll road systems and the implementation of the American Union.

This is a movement that's gone on all over the world," said Stiglitz, "the movement of trying to turn over basic facilities - water, roads, to the private sector."

Speaking about the agenda of the World Bank since the installation of Paul Wolfowitz, Stiglitz highlighted the shift which began back in August 2001 whereby the Bush administration moved to block transparency of secret bank accounts, which in part facilitated the 9/11 terror attacks.

"Unfortunately in this current administration, the defense industries and the energy industries have really been running the show and it has been disastrous," said Stiglitz.

Discussing the warning signs of plummeting real estate prices in the U.S., Stiglitz stated that a global economic depression could only be avoided if a correction was made but at the moment all the indicators are that the situation is not being well managed.

"If it's well managed it will only be a slow-down, if it's not well-managed it could be a recession," said Stiglitz.

Asked if the debt bubble was being well-managed Stiglitz plainly responded in the negative.

"It's gonna be difficult....this has been perhaps the worst six years of mismanagement of the macro economy....I think we can avoid an implosion if we manage this carefully but it's going to be very risky," said Stiglitz, agreeing that if the same course continued to be followed a global depression would occur within 12-24 months.

Stiglitz said his reason for leaving the World Bank was that he was told he would not be able to speak his mind on the issues he considered paramount to the press, summarized as helping make the world a better place, and that the two "amicably parted ways." He also said that the IMF were particularly upset that his predictions about their disastrous policies quickly came true - which is an ominous portender for his thoughts on the possibility of a global crash.

Stiglitz also slammed the recently passed Military Commissions Act , stating that the bill, "really did compromise some of our basic rights," and that it was a "disaster" for American freedom.
Link Posted: 10/30/2006 4:35:06 PM EST
Stiglitz...thats the dude who wrote my college economics textbook...
Link Posted: 10/30/2006 4:41:04 PM EST


First line tells you that everything else in the article can be disregarded:


unless the current downturn is successfully managed


Tinfoil nonsense. If they can't even get their heads around the fact that the economy is currently doing very well indeed, I don't trust them on anything else.
Link Posted: 10/30/2006 4:48:28 PM EST

Originally Posted By Kylaer_:


First line tells you that everything else in the article can be disregarded:


unless the current downturn is successfully managed


Tinfoil nonsense. If they can't even get their heads around the fact that the economy is currently doing very well indeed, I don't trust them on anything else.


Govt. spoon feeds numbers. RE is taking a dive. SC coast was hot for the last few years and now you can't give RE away.
Fed will start jacking rates after the election.....wanna bet? People that took out variable rate interest only loans are getting slaughtered.
Greenspan sure as hell didn't do us any favors and Bernake won't either.
Believe what you want but this guy has been spot on in the past. Columbia profs may be a little liberal but they aren't stupid.
Link Posted: 10/30/2006 4:55:57 PM EST

Originally Posted By sc_beerbarge:

Govt. spoon feeds numbers. RE is taking a dive. SC coast was hot for the last few years and now you can't give RE away.
Fed will start jacking rates after the election.....wanna bet? People that took out variable rate interest only loans are getting slaughtered.
Greenspan sure as hell didn't do us any favors and Bernake won't either.
Believe what you want but this guy has been spot on in the past. Columbia profs may be a little liberal but they aren't stupid.


Real estate's taking a dive because its values were articially inflated by foolish speculators who thought that prices would rise indefinitely. Now they've run out of "greater fools" and have to pay the consequences - there's a thread going on about this right now, right here.

Look at some economic numbers. Unemployment, job creation, the stock market, or other factors you'd care to name. How about durable goods? From census.gov:


New orders for manufactured durable goods in September increased $16.3 billion or 7.8 percent to $226.7 billion, the U.S. Census Bureau announced today. This was at the highest level since the series was first stated on a NAICS basis in 1992 and followed two consecutive monthly decreases including a 0.1 percent August decrease.


Highest level in 14 years, yep, sounds like we're in the veritable economic doldrums, on the cusp of another Depression.
Link Posted: 10/30/2006 4:58:40 PM EST
Relax guys. The USA is in great shape. The rest of the world is screwed. They can't grow enough food, can't fix their roads, and they can't fight. We're going to inherit the planet. United States of Earth. I can see it now!
Link Posted: 10/30/2006 5:03:44 PM EST
Job creation? What? The fast food and walmart cottage industires that are artficially inflating stats the .gov manipulates?

Stock market.........yipee. It will correct itself.
It's an election year bubba.
Link Posted: 10/30/2006 5:04:26 PM EST
"Speaking on the nationally syndicated Alex Jones radio show"
Link Posted: 10/30/2006 5:05:02 PM EST

Originally Posted By KlubMarcus:
Relax guys. The USA is in great shape. The rest of the world is screwed. They can't grow enough food, can't fix their roads, and they can't fight. We're going to inherit the planet. United States of Earth. I can see it now!


Not if the .gov continues to sell out our infrastructure to foreign entities.
Link Posted: 10/30/2006 5:06:30 PM EST

Originally Posted By sc_beerbarge:
... People that took out variable rate interest only loans....



Were and are idiots.
Link Posted: 10/30/2006 5:07:33 PM EST

Originally Posted By sc_beerbarge: Not if the .gov continues to sell out our infrastructure to foreign entities.
If American companies aren't ponying up to buy 'em, sell them to someone else.
Link Posted: 10/30/2006 5:09:02 PM EST
[Last Edit: 10/30/2006 5:09:16 PM EST by pdg45acp]

Originally Posted By Kylaer_:


First line tells you that everything else in the article can be disregarded:


unless the current downturn is successfully managed


Tinfoil nonsense. If they can't even get their heads around the fact that the economy is currently doing very well indeed, I don't trust them on anything else.


I agree...

And.. It's a waste of time to hype BS like this in the old, mid 90's Black Helicopter format.. those who were stupid enough to buy it have long since washed out..

It's time to find a new way to speak..
Link Posted: 10/30/2006 5:11:11 PM EST

Originally Posted By KlubMarcus:

Originally Posted By sc_beerbarge: Not if the .gov continues to sell out our infrastructure to foreign entities.
If American companies aren't ponying up to buy 'em, sell them to someone else.


Why is it we pay taxes again? I thought it was to support infrastructure?
You really want to see more toll roads?
Link Posted: 10/30/2006 5:11:38 PM EST

Originally Posted By sc_beerbarge:
Nobel Prize winner Stiglitz highlights agenda of predatory globalism now arriving in America under auspices of NAFTA Superhighway, North American Union
Paul Joseph Watson & Alex Jones/Prison Planet.com | October 30 2006

Former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz has predicted a global economic crash within 24 months - unless the current downturn is successfully managed. Asked if the situation was being properly handled Stiglitz emphatically responded "no," and also drew ominous parallels to the development of the NAFTA Superhighway and the North American Union.

Stiglitz caused controversy in October 2001 when he exposed rampant corruption within the IMF and blew the whistle on their nefarious methods of inducing countries to fall under their debt before stripping them of sovereignty and hollowing out their economies.

Speaking on the nationally syndicated Alex Jones radio show, Stiglitz defined the process of globalization as a system that was "rigged against the poor countries, rigged for the advanced industrial countries - the result of that is there were an awful lot of losers."

The Columbia University Professor described how rampant privatization has crippled Mexico, in particular citing the sell-off of major infrastructure such as roads.

"They sold the roads to the private enterprise and the hope was that they would be more efficient but of course what happens is that they didn't maintain the roads, they couldn't generate enough revenue and they eventually had to default and give the roads back to the government."

Stiglitz agreed that the process of hijacking and looting key infrastructure on the part of the IMF and World Bank, as an offshoot of predatory globalization, had now moved from the third world to Europe, the United States and Canada.

These sentiments are especially disturbing when we consider the current fast-moving quasi-secret agenda to sell-off major American highways to foreign corporations who plan to turn them into toll roads for tracking and taxation purposes - collectively known as the NAFTA Superhighway. The program forms the framework for the advancement of the North American Union - a collective governmental, border and trading bloc that President Bush has signed the U.S. over to under the Security and Prosperity Partnership of March 2005.

As we previously reported , US citizens will be forced to adopt a de-facto national identification card and have their freedom of mobility defined by behavioral fealty to the government under proposals set to derive from NAFTA superhighway toll road systems and the implementation of the American Union.

This is a movement that's gone on all over the world," said Stiglitz, "the movement of trying to turn over basic facilities - water, roads, to the private sector."

Speaking about the agenda of the World Bank since the installation of Paul Wolfowitz, Stiglitz highlighted the shift which began back in August 2001 whereby the Bush administration moved to block transparency of secret bank accounts, which in part facilitated the 9/11 terror attacks.

"Unfortunately in this current administration, the defense industries and the energy industries have really been running the show and it has been disastrous," said Stiglitz.

Discussing the warning signs of plummeting real estate prices in the U.S., Stiglitz stated that a global economic depression could only be avoided if a correction was made but at the moment all the indicators are that the situation is not being well managed.

"If it's well managed it will only be a slow-down, if it's not well-managed it could be a recession," said Stiglitz.

Asked if the debt bubble was being well-managed Stiglitz plainly responded in the negative.

"It's gonna be difficult....this has been perhaps the worst six years of mismanagement of the macro economy....I think we can avoid an implosion if we manage this carefully but it's going to be very risky," said Stiglitz, agreeing that if the same course continued to be followed a global depression would occur within 12-24 months.

Stiglitz said his reason for leaving the World Bank was that he was told he would not be able to speak his mind on the issues he considered paramount to the press, summarized as helping make the world a better place, and that the two "amicably parted ways." He also said that the IMF were particularly upset that his predictions about their disastrous policies quickly came true - which is an ominous portender for his thoughts on the possibility of a global crash.

Stiglitz also slammed the recently passed Military Commissions Act , stating that the bill, "really did compromise some of our basic rights," and that it was a "disaster" for American freedom.



ok I stopped right there. Alex Jones is the defacto head of the tin foil hat crowd.
Link Posted: 10/30/2006 5:12:54 PM EST

Originally Posted By pdg45acp:

Originally Posted By Kylaer_:


First line tells you that everything else in the article can be disregarded:


unless the current downturn is successfully managed


Tinfoil nonsense. If they can't even get their heads around the fact that the economy is currently doing very well indeed, I don't trust them on anything else.


I agree...

And.. It's a waste of time to hype BS like this in the old, mid 90's Black Helicopter format.. those who were stupid enough to buy it have long since washed out..

It's time to find a new way to speak..


What do your credentials look like compared to these?
Former World Bank Vice President, Chief Economist and Nobel Prize winner.....
Link Posted: 10/30/2006 5:21:39 PM EST
The economy is doing great right now.


Is owing massive amounts of bond debt to foreign governments a good thing?
Essentially, we're taxing billions of dollars away from the American people to pay interest to foreign companies and governments. Is that a good thing?

What happens when those foreign entities refuse to buy our bonds any more? Will the Congress curb its rampant spending? Or will they just print more paper dollars? Which is more immediately politically expedient for congress critters? Shutting down the government, or causing massive inflation over a generation?

Will we continue to rob the current generation to pay the last in an ever-escalating Ponzi scheme? What will happen when the government is unable to pay Social Security and other social welfare benefits? Will the feeding trough be closed or will we find ourselves unable to shut the feeding trough down due to greater than 50% of the voting populace being beneficiaries of the welfare state?

These are the questions that make me wonder what the USA will look like in 20 years.
Link Posted: 10/30/2006 5:41:04 PM EST

Originally Posted By sc_beerbarge: Why is it we pay taxes again? I thought it was to support infrastructure? You really want to see more toll roads?
I prefer toll roads because I only pay for them when I use them. So if I am satisfied with the 'gubment roads that my taxes are paying for, then I'll stick with them.

It will be much easier to pass tax cuts related to 'gubment roads because we have a functioning alternative in the form of privately owned toll roads.
Link Posted: 10/30/2006 7:53:19 PM EST

Originally Posted By KlubMarcus:

Originally Posted By sc_beerbarge: Why is it we pay taxes again? I thought it was to support infrastructure? You really want to see more toll roads?
I prefer toll roads because I only pay for them when I use them. So if I am satisfied with the 'gubment roads that my taxes are paying for, then I'll stick with them.

It will be much easier to pass tax cuts related to 'gubment roads because we have a functioning alternative in the form of privately owned toll roads.


The system we have now is:

"You don't wanna pay property taxes? Don't you want roads?"
"You don't wanna pay sales taxes? Don't you want roads?"
"You don't wanna pay gas excise tax? Don't you want roads?"
"You don't wanna pay tolls? Don't you want roads?"

Its all a big tax-hiding game.
Link Posted: 10/30/2006 8:23:48 PM EST

Originally Posted By 1Andy2: The system we have now is:

"You don't wanna pay property taxes? Don't you want roads?"
"You don't wanna pay sales taxes? Don't you want roads?"
"You don't wanna pay gas excise tax? Don't you want roads?"
"You don't wanna pay tolls? Don't you want roads?"

Its all a big tax-hiding game.
But there's a huge difference: choice. I don't have to take a toll road. I've lived in several cities with toll systems. You take the road based on your needs/budget. With property taxes, income, etc.. you pay wether or not you use the 'gubment service.
Link Posted: 10/30/2006 9:00:56 PM EST

Originally Posted By KlubMarcus:

Originally Posted By 1Andy2: The system we have now is:

"You don't wanna pay property taxes? Don't you want roads?"
"You don't wanna pay sales taxes? Don't you want roads?"
"You don't wanna pay gas excise tax? Don't you want roads?"
"You don't wanna pay tolls? Don't you want roads?"

Its all a big tax-hiding game.
But there's a huge difference: choice. I don't have to take a toll road. I've lived in several cities with toll systems. You take the road based on your needs/budget. With property taxes, income, etc.. you pay wether or not you use the 'gubment service.


Preachin' to the choir, bro.
Link Posted: 10/31/2006 1:11:14 AM EST
Nobel prize winner means less than squat. Carter has one, Reagan doesn't. They just gave one to some lady in Africa for telling people to plant trees.
Link Posted: 10/31/2006 1:16:40 AM EST

Originally Posted By cbrooks:
"Speaking on the nationally syndicated Alex Jones radio show"


Yep, that's where I quit reading.
Link Posted: 10/31/2006 1:20:20 AM EST

Originally Posted By sc_beerbarge:

Originally Posted By Kylaer_:


First line tells you that everything else in the article can be disregarded:


unless the current downturn is successfully managed


Tinfoil nonsense. If they can't even get their heads around the fact that the economy is currently doing very well indeed, I don't trust them on anything else.


Govt. spoon feeds numbers. RE is taking a dive. SC coast was hot for the last few years and now you can't give RE away.
Fed will start jacking rates after the election.....wanna bet? People that took out variable rate interest only loans are getting slaughtered.
Greenspan sure as hell didn't do us any favors and Bernake won't either.
Believe what you want but this guy has been spot on in the past. Columbia profs may be a little liberal but they aren't stupid.


Real Estate is overvalued in many areas... Add in all the folks who went whacko with mortgage deals, and it should be a very good time to buy a house soon...

That doesn't mean the economy is crashing... If you look at a map of the US from space, it should be obvious that real estate is not a scarce commodity. Real Estate in certain 'desirable' areas is, but by and large we are not talking about something inelastic and rare like oil...
Link Posted: 10/31/2006 1:22:29 AM EST

Originally Posted By sc_beerbarge:
Job creation? What? The fast food and walmart cottage industires that are artficially inflating stats the .gov manipulates?

Stock market.........yipee. It will correct itself.
It's an election year bubba.


Somebody's going to hire all the left-overs who aren't educated enough to make it in a modern 1st world economy...
Link Posted: 10/31/2006 1:23:58 AM EST

Originally Posted By sc_beerbarge:

Originally Posted By pdg45acp:

Originally Posted By Kylaer_:


First line tells you that everything else in the article can be disregarded:


unless the current downturn is successfully managed


Tinfoil nonsense. If they can't even get their heads around the fact that the economy is currently doing very well indeed, I don't trust them on anything else.


I agree...

And.. It's a waste of time to hype BS like this in the old, mid 90's Black Helicopter format.. those who were stupid enough to buy it have long since washed out..

It's time to find a new way to speak..


What do your credentials look like compared to these?
Former World Bank Vice President, Chief Economist and Nobel Prize winner.....


Kerry was a 'war hero'...

Clark was a General...

Former... Credentials.. Don't.. Mean... Shit...
Link Posted: 10/31/2006 1:32:38 AM EST

All those smart enough to see it coming ought to run off to another country, quick, do it NOW, before your 401k's and IRA's and the Equity in your houses is worthless. China is an up and comer, you oughts to try over there now. Run, While you Still can!!!
Link Posted: 10/31/2006 1:45:17 AM EST
The US has so much debt that there are two options left:

1. Default.

2. Inflate the currency.

If you want to see our future, take a look at Germany after WWII, or Argentina in the more recent past.

And if you think: "Great, I'll be able to pay off my mortgage with a wheelbarrow full of worthless dollars", think again. Both those countries protected their banking industries at the expense of their citizens.
Link Posted: 10/31/2006 2:55:28 AM EST

Originally Posted By Rodent:
The US has so much debt that there are two options left:

1. Default.

2. Inflate the currency.

If you want to see our future, take a look at Germany after WWII, or Argentina in the more recent past.

And if you think: "Great, I'll be able to pay off my mortgage with a wheelbarrow full of worthless dollars", think again. Both those countries protected their banking industries at the expense of their citizens.


More like continue to deflate the dollar. Printing presses have been running for 6 years diluting the dollar into shit.
GW has increased that national debt over 50%! The guy is a fucking idiot but sadly he was better than the alternatives.
Link Posted: 10/31/2006 2:57:43 AM EST
Dollar Declines as New Home Prices Fall the Most Since 1970
By Daniel Kruger and Min Zeng

The dollar fell against the euro for a third consecutive day, its longest losing streak in more than a month, and weakened versus the yen after a report showed the U.S. median price for new homes declined the most since 1970.

The U.S. currency also weakened against the South African rand, South Korean won and Swiss franc as further evidence of a cooling housing market supported the Federal Reserve's decision yesterday to keep borrowing costs unchanged.

``The numbers suggest the market is not deteriorating rapidly, but it's not improving,'' said Brian Dolan, research director at Forex.com, a unit of online currency trading firm Gain Capital in Bedminster, New Jersey, which has about $250 million worth of funds under management. ``It means there's very little impetus for the dollar to recover.''

The dollar dropped to $1.2663 per euro at 11:10 a.m. in New York, and touched $1.2677, its weakest since $1.2715 on Oct. 6. The U.S. currency closed at $1.2601 yesterday. The dollar traded at 118.68 yen from 119.13.

The median price of a new home fell 9.7 percent to $217,100 in September from $240,400 a year earlier, the report showed. It was the biggest decrease since an 11.2 percent year-over-year drop in December 1970, the Commerce Department said. The median price was the lowest since $211,600 in September 2004.

New-home purchases increased 5.3 percent to an annual pace of 1.075 million last month from a 1.021 million rate in August.

Discounts and Incentives

Housing sales rose from discounts and incentives, which reduces future demand and will ``keep the weakness'' for the dollar, Dolan said. ``We need to see the yen below 118.50 to get the downside moving.''

An industry report yesterday showed sales of existing homes declined 1.9 percent in September to an annual rate of 6.18 million, the lowest since January 2004.

Orders for durable goods in the U.S. rose 7.8 percent last month, the most in six years, after a revised 0.1 percent drop in August, the government said. The median forecast in a Bloomberg survey was for an increase of 2 percent. Excluding transportation equipment, orders rose 0.1 percent after a revised 1.5 percent drop. Forecasters had predicted a 1 percent increase.

The euro gained after European Central Bank President Jean- Claude Trichet said inflation risks ``will remain elevated into 2007,'' reinforcing growing expectations that the bank will lift borrowing costs into next year. A report earlier today showed German consumer confidence increased to the highest level in five years this month.

The Fed kept its main interest rate at a 5 1/2-year-high of 5.25 percent for a third consecutive meeting yesterday. The central bank paused after a two-year series of rate increases in August. The Fed said ``inflation pressures seem likely to moderate over time'' in its statement.

`Paper Wealth'

``This will keep the Fed worried about the economic growth going into the fourth quarter,'' said Kathy Lien, chief currency strategist at Forex Capital Markets LLC in New York. ``U.S. consumers living freely on paper wealth of their homes will have less to spend for the Christmas season. This is a bearish picture for the dollar.''

Traders had placed pre-set orders to sell dollars at $1.2660 per euro, which ``acted like a magnet,'' as the U.S. currency fell through that level, said Firas Askari, head currency trader at BMO Nesbitt Burns in Toronto. He said there are no other important levels until the dollar breaks through $1.28 per euro, the weaker end of its present range.

Traders trimmed bets in the interest-rate futures market that the Fed will raise interest rates in January. Prices now indicate traders place a 4 percent probability that the Fed will boost rates at the Jan. 30-31 meeting to 5.5 percent, down from 16 percent before the Fed's announcement yesterday.

Initial jobless claims increased by 8,000 to 308,000 in the week ended Oct. 21, the Labor Department said in Washington. The four-week moving average, a less volatile measure, fell to 305,250, the lowest in eight months, from 308,000.

Link Posted: 10/31/2006 3:10:43 AM EST

Originally Posted By yekimak:
All those smart enough to see it coming ought to run off to another country, quick, do it NOW, before your 401k's and IRA's and the Equity in your houses is worthless. China is an up and comer, you oughts to try over there now. Run, While you Still can!!!


its always good to have a back-up plan and that would be a good one. unfortunately, its not that easy. we're pretty much the only country in the world that freely hands out citizenship and long term visas at the drop of a hat. without wife or family, youre pretty much looking at life as an illegal anywhere else. and it will have unpleasant consequences if you are caught.

its so pathetically sad how much people take for granted in this country. and when those attitudes ultimatley destroy it, there isn't going to be anywhere "better" to go...except for maybe the moon.

Link Posted: 10/31/2006 3:18:09 AM EST
[Last Edit: 10/31/2006 3:21:23 AM EST by migradog]
The economists preached all this same bullshit back in the late 80's.

The economy was going to go down the tubes because it was defense based.
and peace was breaking out across Europe.

The artificially high home prices were going to collapse.

Wall Street and stocks were going down.

I remember paying 10% on my 1st home loan back then.

Reagon had created an impossible to correct defense deficeit.

We were all headed towards a huge, cataclysmic depression.

It never happened..........

There's no reason to put any more faith in the IMF than you do the UN.
Link Posted: 10/31/2006 3:20:57 AM EST

Originally Posted By sc_beerbarge:
The dollar fell against the euro for a third consecutive day, its longest losing streak in more than a month,


I am forced to wonder how many people even know what that means, or what causes the appreciation or depreciation of currency.
Link Posted: 10/31/2006 3:28:10 AM EST

Originally Posted By sc_beerbarge:
More like continue to deflate the dollar. Printing presses have been running for 6 years diluting the dollar into shit.


The US has averaged about 2% INFLATION for years. DEFLATION would be the DESTRUCTION of dollars making each individual dollar more valuable.



GW has increased that national debt over 50%!


No he hasn't.

Study the budget process, and then think about that again.



The guy is a fucking idiot but sadly he was better than the alternatives.
Link Posted: 10/31/2006 3:32:07 AM EST

Originally Posted By John_Wayne777:

Originally Posted By sc_beerbarge:
The dollar fell against the euro for a third consecutive day, its longest losing streak in more than a month,


I am forced to wonder how many people even know what that means, or what causes the appreciation or depreciation of currency.


Seems most can't grasp the fact that printing more money doesn't solve fundamental issues. The long term effects will be harsh.
But HEY according to these folks "the economy is strong look at durable goods!!!"

Link Posted: 10/31/2006 3:39:39 AM EST
[Last Edit: 10/31/2006 3:40:50 AM EST by sc_beerbarge]
The VALUE of the dollar has been deflated due to printing more of them. I also used diluted in the sentence but some of the armchair economists may not have understood that term.

He hasn't increased the national debt????
When GW took office it was at approx 5.6 trillion now it's pushing 8.6 trillion.
He's the one that went to congress asking for a further cap increase to 9 trillion. Why was that?

Link Posted: 10/31/2006 3:41:54 AM EST

Originally Posted By sc_beerbarge:
Seems most can't grasp the fact that printing more money doesn't solve fundamental issues. The long term effects will be harsh.


Hint: Inflation is not the only force at work that causes the dollar to depreciate against the Euro.

What other forces cause currency depreciation in the world market?
Link Posted: 10/31/2006 3:43:09 AM EST

Originally Posted By migradog:
The economists preached all this same bullshit back in the late 80's.

The economy was going to go down the tubes because it was defense based.
and peace was breaking out across Europe.

The artificially high home prices were going to collapse.

Wall Street and stocks were going down.

I remember paying 10% on my 1st home loan back then.

Reagon had created an impossible to correct defense deficeit.

We were all headed towards a huge, cataclysmic depression.


It never happened..........

There's no reason to put any more faith in the IMF than you do the UN.


your right it was called recession and was not real fun either. And it is coming around again except this time with personal savings at 40 year lows it might get a little bit more tight for the majority of folks.
Link Posted: 10/31/2006 3:43:38 AM EST

Originally Posted By sc_beerbarge:
The VALUE of the dollar has been deflated due to printing more of them.




It's called inflation. Everybody with an IQ of over 70 understands what it means. Just give up.



He hasn't increased the national debt????


No, he hasn't.

Hint: The Executive doesn't appropriate money....
Link Posted: 10/31/2006 3:43:40 AM EST

Originally Posted By KlubMarcus:
Relax guys. The USA is in great shape. The rest of the world is screwed. They can't grow enough food, can't fix their roads, and they can't fight. We're going to inherit the planet. United States of Earth. I can see it now!


Actually--this year marked a 'negative savings rate' among Americans, we also IMPORT nearly half of the food we eat.

The small farmer accounts for ~2% of the populace (large farmers are nil).

We are the largest debtor nation, all the countries subsidizing our debt is dropping US dollars and getting gold and Euro's--they aren't stupid.

Over 300,000 homes have been forclosed on already--that will climb astronomically when 3,5,7yr ARMS mature in the next several years.

The only thing we will inherit is the world's anger from all of our corruption and mismangagement of our money and resources.

Did I mention that jobs are still being deported?

How about we deport: Illegals, Congress, and Jorge Boosh!
Link Posted: 10/31/2006 3:47:34 AM EST
Tag for work
Link Posted: 10/31/2006 3:48:24 AM EST

Originally Posted By gus:

Originally Posted By cbrooks:
"Speaking on the nationally syndicated Alex Jones radio show"


Yep, that's where I quit reading.


+1
Link Posted: 10/31/2006 3:49:57 AM EST

Originally Posted By John_Wayne777:

Originally Posted By sc_beerbarge:
The VALUE of the dollar has been deflated due to printing more of them.




It's called inflation. Everybody with an IQ of over 70 understands what it means. Just give up.



He hasn't increased the national debt????


No, he hasn't.

Hint: The Executive doesn't appropriate money....


Hey genius who keeps signing the bills to increase national debt?

hint: the President

Do you know why we keep increasing the National Debt?

Hint: so we don't go into DEFAULT!

One band aid after another. It will eventually catch up and bite us in the ass!
Link Posted: 10/31/2006 3:54:00 AM EST

Originally Posted By sc_beerbarge:
Hey genius who keeps signing the bills to increase national debt?




And who keeps putting those bills on his desk to sign? What branch of government ORIGINATES spending legislation and which branch of government holds the power of the purse?



Do you know why we keep increasing the National Debt?


The national debt is increased because government is funding a budget deficit by borrowing more money, NOT because:



Hint: so we don't go into DEFAULT!


Debt service makes up less than 10% of the budget at this point, so the government isn't issuing more bonds just to pay the debt service. They are issuing more bonds to fund additional deficits.



One band aid after another. It will eventually catch up and bite us in the ass!


What % of GDP is the US national debt?
Link Posted: 10/31/2006 3:57:45 AM EST
US public debt, as a percentage of GDP, isn't at some mythically high levels, nor it high when compared to the other industrialized nations out there.



But I doubt simple facts will stop the Pollyannas from freaking out about something they plainly don't understand.
Link Posted: 10/31/2006 3:58:27 AM EST
What party controls congress again?

Link Posted: 10/31/2006 4:03:59 AM EST
[Last Edit: 10/31/2006 4:06:18 AM EST by John_Wayne777]

Originally Posted By Tomislav:
US public debt, as a percentage of GDP, isn't at some mythically high levels, nor it high when compared to the other industrialized nations out there.


Bingo. Right now I think it is something like 5 or 6 percent of GDP, which is among the lowest in the world, which continues to make us a desireable place to invest. During WWII our debt was BIGGER than our GDP.



But I doubt simple facts will stop the Pollyannas from freaking out about something they plainly don't understand.


Bingo.

The sky is not falling.

Yes, there are some problems....but the world isn't going to end in 6 months, people.
Link Posted: 10/31/2006 4:07:52 AM EST
[Last Edit: 10/31/2006 4:11:08 AM EST by Cincinnatus]

Originally Posted By sc_beerbarge:
What party controls congress again?



So, sc_beerbarge...

Why do you seem so gleeful to report these obscure findings that indicate woe for our economy? And where, pray tell, is that website that has links to ALL of your stories all on one page? Share it with us.

What exactly are you trying to prove?

Could it be that Republican claims of a robust economy are false, and Democrat claims of a failing economy are true?

Is that your thesis?
Link Posted: 10/31/2006 4:11:54 AM EST
wont matter after 2012...
Link Posted: 10/31/2006 4:20:21 AM EST
Relax guys, Stiglitz is a heavy socialist. He does not believe in private industry but prefers a public industrial base instead. He is just being Chickenlilttle in saying that the economy (sky) is falling in order to advance his desire of socialism. He wants to turn the IMF into the old USSR communist bank where it is used to prop-up socialism around the world. He hates capitalists.

Most of the European nations have moved significantly into socialism. And like communism, it is failing to the point where either fresh blood is needed into the socialists mix (i.e. why USSR and it's communism needed to keep consuming other countries for growth, GDP, because it cannot generate enough on it's own). They are trying to expand their socialism into other countries to sustain itself. It would be much easier to move to private industry, free market, and capitalism. However, just like our politicians, they cannot give up the revenue in the form of heavy taxes.

I bet they will continue further down the slippery slope to where change comes at a far heavier price (i.e. USSR and relatively soon, North Korea; Cuba will escape most of the worse due to it's strategic value to the northern neighbor - US).
Link Posted: 10/31/2006 4:29:31 AM EST
[Last Edit: 10/31/2006 4:34:07 AM EST by sc_beerbarge]
So, sc_beerbarge...

Why do you seem so gleeful to report these obscure findings that indicate woe for our economy? And where, pray tell, is that website that has links to ALL of your stories all on one page? Share it with us.

No glee here. Just get tired of the economy is going great rhetoric. When it really isn't. I also don't want my children to inherit a pofs country.

What exactly are you trying to prove?

I'm not out to prove anything other than statistics can be skewed to prove any point you would like. Seems most have on rose colored glasses and see only what they want to.

Could it be that Republican claims of a robust economy are false, and Democrat claims of a failing economy are true?

Truth is somewhere in the middle because both partys are chalk full of liars. They both have their own end games and I don't like either.

Link Posted: 10/31/2006 4:38:04 AM EST

Originally Posted By sc_beerbarge:

Originally Posted By KlubMarcus:
Relax guys. The USA is in great shape. The rest of the world is screwed. They can't grow enough food, can't fix their roads, and they can't fight. We're going to inherit the planet. United States of Earth. I can see it now!


Not if the .gov continues to sell out our infrastructure to foreign entities.


Its not like they can pack them up and take them home! Its INFRASTRUCTURE. Its in a fixed location by its definition. Who cares who owns it. If SHTF gov will take it back over anyway.



This is all political and timed right before the election.....

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