Alert: QE2 Has Lit the Fuse

goingbroke

“Either cuts in spending or increases in taxes will be necessary to stabilize the fiscal situation…The Federal Reserve will not monetize the debt.”

~ Ben Bernanke

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goingbroke

The job market is not getting better it's a lie. Those who have exhausted their 99 wks of unemployment benefits are still not working and those with college degree's are working in retail stores such as Walmart.
The good jobs are being outsourced to foreign countries and I heard that McDonalds' new stores are outsourcing at the drive up window.
There is no one at the drive up window. You place your order which goes overseas and then re-routed back here! Another displaced American worker.

timcoin

<< <i>The job market is not getting better it's a lie. Those who have exhausted their 99 wks of unemployment benefits are still not working and those with college degree's are working in retail stores such as Walmart.
The good jobs are being outsourced to foreign countries and I heard that McDonalds' new stores are outsourcing at the drive up window.
There is no one at the drive up window. You place your order which goes overseas and then re-routed back here! Another displaced American worker. >>



Yep... I consider myself a free market capitalist and am opposed to any regulations that hinder a company for doing business in a manner they feel is most profitable to them, but all the money we are sending across the borders and over the oceans is really getting a bit ridiculous. Maybe guys like us need to make a concerted effort, on a personal level, to buy American, even if that means having to pay a higher costs for goods.

roadrunner

Ben's already been monetizing the debt and really has no other option but to continue. The FED's schedule for the short term has them buying heavily to Dec 9th. That's about all I'm looking at right how.

roadrunner

chumley

I know all about the economy,I have a mechnical engineer at home working part time at the corner store because there is nothing in his field

gsa1fan

Just got back from Wally world all dairy products up fifty cents at least. Gas up 15 cents.

All this since Monday

rpw

college degree's are working in retail stores such as Walmart.

You would think this is logical but it is not happening. I have spoken with several educated individuals who were looking for work at places like Wal Mart and Target. Those stores believe that this will recover and they will not touch educated people that they suspect (rightfully so) will bail on them as soon as the economy does pick back up.

BTW, noticed yesterday that 50 pound bags of sugar at Costco are up over $2 in 2 weeks. And yes, I am stacking commodities along with my PM.

KUCH

I need a bigger freezer, bigger ranch for more cattle, a bigger wine cellar cause when inflation hits I'll be thirsty and a bigger plane to get out of the country.

Bear

Did you know that China produces 90% of all the vitamin C used in the world.

Only heaven knows what other ingredients they produce that are placed in supposed

American made vitamins and medications. If that is not bad enough, China subcontracts

production of chemicals to the poorest Nations in Asia and Africa. The truth of the matter

is this, we no longer know where anything is made or where chemical components come from

or under what type of standards and controls.

Higashiyama

Bear - don't worry too much about the vitamin C part - we're still growing 20 billion pounds of cirtrus fruit each year!

(however, as far the ag chemicals ...)

goingbroke

But of course the other countries want free trade.
It has never, ever worked for the benefit of the American workers. It is just the whip that the CEO's and politicians use to flog us with to beat American wages down to third world wages. Remind me again how it benefits the US workers for free trade.
- MFG jobs leave and the backbone of all countries collapses. Benefit?.
- All high tech jobs are going to India Pacific net efect that America is being dumbed down. Benefit?
- Dumbing down the USA generates blind dependance on other countries. Benefit?
- CEO's increase market share for their corp and make nice bonuses. Benefit?
- Politicians use our jobs for leverage to win support for word political agendas. Benefit?
- We are not allowed to tax the dollars that the un-American corporations make over seas. Benefit?
- Before our job goes overseas we get the joy of training our replacement. Benefit?
- We can't make money on the good coming back into the country via tarrif. Benefit?

The American people demand that overseas profit be taxed if they are sending our jobs there and that goods brought back in be taxed for the priveledge of selling in the USA. tax the corporations that send our jobs overseas by forcing them to train the displaced workers and provide wages (not unemplyment)

Why cant any of this be done? This summit was a diplomatic setback for the United States. The G-20 itself acknowledged the problem in its final statement: "Uneven growth and widening imbalances are fueling the temptation to diverge from global solutions into uncoordinated actions." But the go-it-alone approach, the statement concluded, "will only lead to worse outcomes for all."

DNADave

<< <i>The job market is not getting better it's a lie. Those who have exhausted their 99 wks of unemployment benefits are still not working and those with college degree's are working in retail stores such as Walmart.
The good jobs are being outsourced to foreign countries and I heard that McDonalds' new stores are outsourcing at the drive up window.
There is no one at the drive up window. You place your order which goes overseas and then re-routed back here! Another displaced American worker. >>



When will we all see? All we have to do is NOT buy Chinese made goods. Take you're business elswhere. That's not always easy to do, but it's easier than tax increases or spending cuts. If WE would make that decision, things would change.

johnny9434

how long will it take before everything falls on its face in this country. it might be coming yet

tincup

"When will we all see? All we have to do is NOT buy Chinese made goods. Take you're business elswhere. That's not always easy to do, but it's easier than tax increases or spending cuts. If WE would make that decision, things would change. "

I totally agree with this. I am constantly checking to see where an item is made prior to purchasing it. If at all possible, I will pick an American made product. Granted it is very difficult to do so anymore, since less and less is being made here in the USA. Sounds like even Harley Davidson is finally going to overseas........!

Another thing I noticed, is that more products are not even listing the country of origin any more. I thought that was law that that it needed to be listed. But, perhaps in our new world order and global government that our country politicians keep pushing us into.... ....things seem to be different.

57loaded

It is laughable (sadly) the comments made by our President at the G20 summit. The leverage, the command, the power are going, going, gone as far as USD.

I do think there WILL BE a QE III and maybe a QE IV. It's a crime what it is doing to the stock market...there my folks is a real smoke and mirror bubble. Then the doom and gloom happens. To what extent, i don't know. DoubleEagle59 will have his DOW/Au ratio at 1:1 maybe

yellowkid

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Yep... I consider myself a free market capitalist and am opposed to any regulations that hinder a company for doing business in a manner they feel is most profitable to them, but all the money we are sending across the borders and over the oceans is really getting a bit ridiculous. Maybe guys like us need to make a concerted effort, on a personal level, to buy American, even if that means having to pay a higher costs for goods. >>



"Free Market Capitalism" is what got us into this mess. Even Adam Smith was for some control of the "producers."

jmski52

"Free Market Capitalism" is what got us into this mess. Even Adam Smith was for some control of the "producers."

Government-subsidized housing lenders, a blurring of the lines between mortgage banking & investment banking, government largesse, government overspending, failure of government to prioritize spending, securitized mortgage derivative financial instruments, hugely-unjustified leverage, incestuous tie-ins between the Treasury, Goldman and JPM - and greed - got us into this mess.

Just my opinion - what got us into this mess wasn't free market capitalism or anything resembling it. The producers are way down the list of beneficiaries, much less having had a hand in it.

yellowkid

<< <i>"Free Market Capitalism" is what got us into this mess. Even Adam Smith was for some control of the "producers."

Government-subsidized housing lenders, a blurring of the lines between mortgage banking & investment banking, government largesse, government overspending, failure of government to prioritize spending, securitized mortgage derivative financial instruments, hugely-unjustified leverage, incestuous tie-ins between the Treasury, Goldman and JPM - and greed - got us into this mess.

Just my opinion - what got us into this mess wasn't free market capitalism or anything resembling it. The producers are way down the list of beneficiaries, much less having had a hand in it. >>



I believe Smith would have called the bankers, brokers, and investment houses the "producers" here, had the banking regulations not been relaxed under RR most of this wouldn't have happened. Derivatives weren't invented by anyone in government. Although there were rumblings about their potential to cause catastrophic financial calamity over twenty years ago, regulators ignored them. Still governmental de facto complicity in much of the chicanery that transpired was only a contributing cause. And what happened is exactly what Adam Smith warned about when industry leaders are allowed to run unfettered.

Edited to add that I don't mean to pick on any political party, there was more de-regulating under Clinton. There is plenty of blame to go around.