No chance of that, go with your first impression. I myself thought you were a bit brighter than you appear but beers and bricks don't mix. Sure the shots prevent it from being a total social embarrassment but unless I miss my mark I'd say you're probably drinking Canadian beer no less. No offense to the Canucks in the crowd but really, what do they know about beer? Hell. what do I know about beer for that matter?
<< <i>We have the strongest economy despite what the dollar trades for >>
>>
BH is confused. Here you go, from todays's New York Times:
The New York Times
By MICHAEL M. GRYNBAUM Published: October 31, 2007 The economy expanded faster than expected in the third quarter, led by a surge in consumer spending and exports, the government reported today...The 3.9 percent annual growth rate compared with 3.8 percent in the second quarter and 0.6 percent in the first quarter. The report from the Commerce Department is a preliminary estimate of gross domestic product in July through September, a volatile period that included the bleakest moments of the summer’s subprime mortgage collapse.
The growth rate, which beat most analysts’ expectations, adds a new wrinkle to the Fed’s deliberations at today’s meeting. The central bank is expected to cut its benchmark interest rate by a quarter-point in response to widespread concerns about the lagging housing market and a credit squeeze.
But today’s G.D.P. report presents a more cheerful view of the economy. The growth rate was the fastest since the first quarter of 2006. Consumer spending expanded at more than twice its rate in the second quarter, rising 3 percent after a 1.4 percent gain in the second quarter with a surge in sales of big-ticket products like appliances and furniture. Businesses spent more, too, with producer expenditures growing at a 7.9 percent annual rate, down slightly from 11 percent in the second quarter.
“There was more momentum than recognized going into the financial crises of the summer,” said Stuart G. Hoffman, the chief economist at PNC Financial. But Mr. Hoffman warned the G.D.P. numbers masked a slowdown since August. “It sure hit a headwind when we saw the problems on Wall Street,” he said.
That's right, even The New York Times is reporting how strong the economy is. Sorry doom and gloomers, you're missing the good ol days
Quis custodiet ipsos custodes?
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
<< <i>All I know is that it isnt helping me buy Swiss coins very cheaply.
John >>
Hey, laddie....the Carry Trade is whats keeping the lid on the CHF. Just watch, .85 will also soon be at par, and heaven forbid if the Swiss start to repatriate.
No A/C no fan, please, I think not. The coldest thing in Germany is the beer and during the summer it is a God send. Apparently they already know this so there is plenty to go around. The concept of ice cubes still hasn't caught on in Islamaeurope quite yet but may or may not be unveiled in the future.
BH is confused. Here you go, from todays's New York Times:
The New York Times By MICHAEL M. GRYNBAUM Published: October 31, 2007 The economy expanded faster than expected in the third quarter, led by a surge in consumer spending and exports, the government reported today...The 3.9 percent annual growth rate compared with 3.8 percent in the second quarter and 0.6 percent in the first quarter. The report from the Commerce Department is a preliminary estimate of gross domestic product in July through September, a volatile period that included the bleakest moments of the summer’s subprime mortgage collapse.
The growth rate, which beat most analysts’ expectations, adds a new wrinkle to the Fed’s deliberations at today’s meeting. The central bank is expected to cut its benchmark interest rate by a quarter-point in response to widespread concerns about the lagging housing market and a credit squeeze.
But today’s G.D.P. report presents a more cheerful view of the economy. The growth rate was the fastest since the first quarter of 2006. Consumer spending expanded at more than twice its rate in the second quarter, rising 3 percent after a 1.4 percent gain in the second quarter with a surge in sales of big-ticket products like appliances and furniture. Businesses spent more, too, with producer expenditures growing at a 7.9 percent annual rate, down slightly from 11 percent in the second quarter.
“There was more momentum than recognized going into the financial crises of the summer,” said Stuart G. Hoffman, the chief economist at PNC Financial. But Mr. Hoffman warned the G.D.P. numbers masked a slowdown since August. “It sure hit a headwind when we saw the problems on Wall Street,” he said.
Every story has another side. Here's what Mogambo had to say yesterday:
Check this out: "Gas prices hit a record nationwide average of $3.23 per gallon in late May before receding a little, though prices are expected to soar again later this year. Food costs have increased 4.5 percent over the past 12 months, partly because of higher fuel costs. Egg prices were 44 percent higher, while milk was up 21.3 percent over the past 12 months to nearly $4 a gallon, according to the Bureau of Labor Statistics."
The result is that when prices go up faster than income, then people start suffering, as is proved by Rev. Melony Samuels, director of The BedStuy Campaign Against Hunger, which is "a church-affiliated food pantry in Brooklyn." She says that, "The pantry scrambled to feed 5,000 new families over the past 12 months, up almost 70 percent from 3,000 the year before."
Up 70% in one year! And this is 5,000 new families in dire need, right there in that one place in Brooklyn! Multiply that times the number of all the places in America that are suffering the results of higher consumer prices, which is the inevitable result of the filthy, despicable Federal Reserve creating the money and credit to cause the higher prices, and this is so intolerable that what we ought to do is rise up in open rebellion and install Emperor King Mogambo (EKM) on the throne to rule with an iron fist in one hand and a tasty Taco Supreme in the other, smiting and lashing out in unrestrained fury at Congress, the Supreme Court and the Federal Reserve until all the people are horrified and are begging, "Please stop punishing them, Merciful And Handsome Mogambo (MAHM), as they have been cruelly whipped and beaten for their sins, and now they must languish in the infamous Mogambo Dank Dungeon Of Dread And Despair (MDDODAD)!"
Call me uninformed, but who is pictured opposite Hillary? Is that her mistress? If so, she did quite a bit better than Bill, I'd say.
Q: Are You Printing Money? Bernanke: Not Literally
You're right Slammer we should abandon capitalism and freedom and shift our government to socialism to help the middle class. After all there is no opportunity for anyone in this country to help themselves. Just to keep this coin related, let's all give our gold and silver to the government. Make you happy Slammer?
Anyone telling you that the US economy is doing good is conveniently omitting most of the facts. You can compare the US economy to your family finances:
You bought a house, two new cars, and some other toys...your neighbors were impressed. Suddenly you find that you cannot make the payments, who cares - you refinance your house and continue to live the same standard of living. Soon you're out of money again so you turn to credit cards to pay for the toys that you have, and hey, what the heck...you buy a few new ones. It appears to others that you're living the good life, but once the surface is scratched it's easy to see that you're living hand to mouth and will do much suffering before your debt is paid - maybe you'll be lucky and be able to hand the debt to your kids.
This is the same thing that's going on with the US economy, only in a larger scale. We continue to suffer under huge deficits and trade imbalances, the nation as a whole has had a negative savings rate for two years or so...the purchases being made (that are being touted as a positive economic indicator)are not being paid for. The administration is largely keeping the funding for the Iraq war off the books to make things look better than they really are. The dollar is falling, and has fallen nearly 50% under this administration - we have more dollars, but each is worth less than it was. The cost of living continues to be misrepresented using numbers that do not include everyday neccesities - when you include them the inflation rate is over 10%.
Anyone that claims that the economy is doing great is misleading you...do some homework, dig under the surface. It's not as rosey as some would have you believe, as can be attested to by most Americans.
<< <i>Anyone telling you that the US economy is doing good is conveniently omitting most of the facts. You can compare the US economy to your family finances:
You bought a house, two new cars, and some other toys...your neighbors were impressed. Suddenly you find that you cannot make the payments, who cares - you refinance your house and continue to live the same standard of living. Soon you're out of money again so you turn to credit cards to pay for the toys that you have, and hey, what the heck...you buy a few new ones. It appears to others that you're living the good life, but once the surface is scratched it's easy to see that you're living hand to mouth and will do much suffering before your debt is paid - maybe you'll be lucky and be able to hand the debt to your kids.
This is the same thing that's going on with the US economy, only in a larger scale. We continue to suffer under huge deficits and trade imbalances, the nation as a whole has had a negative savings rate for two years or so...the purchases being made (that are being touted as a positive economic indicator)are not being paid for. The administration is largely keeping the funding for the Iraq war off the books to make things look better than they really are. The dollar is falling, and has fallen nearly 50% under this administration - we have more dollars, but each is worth less than it was. The cost of living continues to be misrepresented using numbers that do not include everyday neccesities - when you include them the inflation rate is over 10%.
Anyone that claims that the economy is doing great is misleading you...do some homework, dig under the surface. It's not as rosey as some would have you believe, as can be attested to by most Americans. >>
So Blackhawk let me see if I understand. Since Americans individually got into credit problems to pay for a HOUSE, 2 CARS, 5 TV's, 2 CELLPHONES, 2 COMPUTERS, etc. it should be blamed on the current government. Poor middle class. Horrible standard of living. Maybe if our educational system wasn't so concerned about passing on their social and moral agenda to our children they could actually teach some economic skills to them.
i could only laugh when i listened to hillary clinton in the debates. if she gets elected i see gold at 2000 a few years after she takes office. :-(
and politics has EVERYTHING to do with this thread
Gold has a better shot of hitting 2000 in the next 15 months. When you have nearly all major currencies up from 50% to 90% in the past 6 years, a budget surplus to endless defecits during the same time frame, how can any rational person that understands basic economics believe the drivel that economic times are good.
I recall in the 1960's another war and another Texas president getting us involved in a huge escalation without an end game to get out and finish it. 10 years later after we achieved "peace with honor" we found ourselves with crazy inflation, a 22% prime rate, a gagging economy and a war that was lost.
You're right about one thing it's going to take several years to undo the damage done. And it has nothing to do with political parties but everything to do with disastrous long term decisions by Imperialist Presidents from Texas. Sorry to some of my Texas friends but that's how it is.
I will say one thing though, loyal to the end for so many. Amazing.
And what is a Mogambo, pray tell? And is it more relevant then The New York Times?
Mogambo is an economist. He writes regularly and posts on Kitco and SafeHaven. Very entertaining, somewhat insane, but more importantly he assembles economic data from a variety of economic reports. You oughta read him occasionally. And he does cite his sources.
Q: Are You Printing Money? Bernanke: Not Literally
Pony you left out that war with no endplan we had in the 40's. Never ceases to amaze me how some don't understand the price of freedom and safety. By the way, had any terrorist attacks in California lately?
<< <i>So Blackhawk let me see if I understand. Since Americans individually got into credit problems to pay for a HOUSE, 2 CARS, 5 TV's, 2 CELLPHONES, 2 COMPUTERS, etc. it should be blamed on the current government. Poor middle class. Horrible standard of living. Maybe if our educational system wasn't so concerned about passing on their social and moral agenda to our children they could actually teach some economic skills to them. >>
The whole US...federal, state, and local governments along with individuals, have been spending to make things look better than they really are. You can deny and ridicule, but in the end I think that most here know that when looking at the facts, the economy is getting worse instead of better. All we're trying to do now is prop up the stock market so the movers and shakers can get a bit more juice out of the lemon before it shrivels completely.
I don't disagree that our economy is in a precarious position. We agree that our nations credit habits are to blame. I just don't blame it on one man. I like to believe we still have individual responsibility for our decisions and it is not governments responsibility to bail out those who make bad ones.
Yes, there were a lot of republicans in the congress when they controlled it from 2002 to 2006 voting for pork-laden bills, and I mean GRADE A PORK! They never saw a spending bill they didn't love, and President Bush never saw a spending bill he would veto.
The famous Bridge To Nowhere for $320,000,000.00 come to mind.
All this socialism is bad for America (socialism for the rich and cronies). How about no-bid contracts for Halliburton even after they served sewage to our troops as "water"?
On the subject of the war and its spending, we should look to a famous politician for wisdom:
"Victory means exit strategy, and it’s important for the president to explain to us what the exit strategy is." - George W. Bush, 1999
I get killed on the currency whenever I travel. The dollar needs to turn around, and soon. I don't see that happening until next year when Hillary gets elected and we get back on the right track.
Always took candy from strangers Didn't wanna get me no trade Never want to be like papa Working for the boss every night and day --"Happy", by the Rolling Stones (1972)
> The exit strategy is not to exit. We are there to stay. You do understand why we are still in S Korea, right? Same concept, different enemy.
News to me, or maybe just a flip-flop. I've heard all kinds of reasons from the administration for their Oil War, and the reason changes every couple of months. I still haven't heard that we are there to stay. Are you an administration insider?
I'm not sure which troops are going to be stationed there forever, or how we are going to pay for this endless occupation at the current rate of hundreds of billions a year.
Maybe you have more "inside information" about these topics.
All this socialism is bad for America (socialism for the rich and cronies). How about no-bid contracts for Halliburton even after they served sewage to our troops as "water"? >>
Oh I love that line about socialism for the rich. Socialism is immoral no matter who it benefits because of the basic principles on which it is founded.
> Oh I love that line about socialism for the rich. Socialism is immoral no matter who it benefits because of the basic principles on which it is founded.
Nobody answered me on another thread when I posted this, so maybe you want to take a shot....who said the following quote?
"All the property that is necessary to a Man, for the Conservation of the Individual and the Propagation of the Species, is his natural Right, which none can justly deprive him of: But all Property superfluous to such purposes is the Property of the Publick, who, by their Laws, have created it, and who may therefore by other laws dispose of it, whenever the Welfare of the Publick shall demand such Disposition. He that does not like civil Society on these Terms, let him retire and live among Savages. He can have no right to the benefits of Society, who will not pay his Club towards the Support of it."
You're right Slammer we should abandon capitalism and freedom and shift our government to socialism to help the middle class
Numis, what the hell are you yammering about? This is a typical ROBpubliCON reply...answer a completely different question or generalize something to the point of absurdity. Kind of like when Bush vomits on and on about, "I'll never be against freedom!"....guess what jackass, nobody ever said you were, that's not even what we're talking about.
Bleckhawk the economist speaks!
ebaytrader, when faced with a well thought out reply, your response is also typical ROBpubliCON: i.e. attempting to dismiss what you don't understand.
" the ROBpubliCONS had the Senate, the House AND the White House, they couldn't do crap with it (at least not to benefit the middle class and poor), and now they piss and moan about how much better things would be if they were back in power....... >>
"
Hey Slammer. Maybe you could fill in for the uninfomed all the GREAT things The Democrats did in the FIRST 100 DAYS and since then to save us ALL from the"VAST RIGHT WING CONSIPRACY". I just have a hard time remembering what it is!
"Nobody answered me on another thread when I posted this, so maybe you want to take a shot....who said the following quote?"
Geez, this sure means a lot to you. So I'll bite. God Herself?
No, shirley it's someone we would never have thought of, someone who is revered for their widson, the identity of whom will shock and astound. Am I right?
Or it's the opposite. Really, who cares.
Quis custodiet ipsos custodes?
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Metalsman, undoing years of ineptitude is gonna take some time.
One thing Dems are currently trying to do is to pass a renewal to the S-Chip insurance coverage for poor children....but guess who will veto that AGAIN?
Among other things, the Democrats passed HR 2 and S.1082 , making a stronger FDA.
The Democrats passed S.761, helping R&D funding so America can compete. They have also increase spending on
They passed S.1, ethics reform (needed after the notorious Delay/Abramoff/Cunningham/Scanlon/Doolittle/Ney/Burns/Frist graft and influence peddling scandals)
They passed S.214, to protect the political independence of US Attorneys. (this kind of thing wasn't needed until now, since US Attorneys were vetted so openly on their political beliefs under Bush)
HR.2 increases the minimum wage, which hasn't been raised under the barrage of inflation we have had for years.
They passed S.4, which puts into place a number of 911 Commission recommendations. Guess the Dems were needed to pass laws that actually make the country more secure!
<< <i>Metalsman, undoing years of ineptitude is gonna take some time.
One thing Dems are currently trying to do is to pass a renewal to the S-Chip insurance coverage for poor children....but guess who will veto that AGAIN? >>
Why don't you take your political crap over to the DU and not this forum. This is a U.S. COINS forum and not "I am a clueless liberal" forum. Geez.
<< <i>"Nobody answered me on another thread when I posted this, so maybe you want to take a shot....who said the following quote?"
Geez, this sure means a lot to you. So I'll bite. God Herself?
No, shirley it's someone we would never have thought of, someone who is revered for their widson, the identity of whom will shock and astound. Am I right?
Or it's the opposite. Really, who cares. >>
OK, so it's established you hate one of the Founding Fathers' ideas.
I posted that quote just to keep things coin-related. The guy who wrote that interesting thought had his visage appear on the Half Dollar from 1948 to 1963.
"Metalsman, undoing years of ineptitude is gonna take some time.
One thing Dems are currently trying to do is to pass a renewal to the S-Chip insurance coverage for poor children....but guess who will veto that AGAIN?"
So its going to take longer than 100 days I thought they had a PLAN and BACKING and ALL THE "RIGHT" [no offence] STUFF..BY the way how much time..I thought they new Bush was still the president when they made those PROMISES.. And now they have let me down.. me and my over extended mortgage, 8 credit cards, 2 no make that 3 cars [ ones a lease], 2 kids in private school and my wife that gets here hair & nails done twice a month.. you know me, the average middle class [just moved up from the poor] guy. NOT!
Personally I think it's hillarious. You have certain people who display zero depth debating the differences and benefits between left wing socialism and right wing socialism. Neither can even define the principles of socialism nor freedom obviously.
Metalsman, are you trying to state that the Dems are bad because they haven't yet fixed all of the ROBpubliCON screw ups? Is that your argument? I kind of think you're agreeing with me now.
> You have certain people who display zero depth debating the differences and benefits between left wing socialism and right wing socialism. Neither can even define the principles of socialism nor freedom obviously.
I agree completely. Of course, my idea of whom is uninformed will differ from yours.
"Metalsman, are you trying to state that the Dems are bad because they haven't yet fixed all of the ROBpubliCON screw ups? Is that your argument? I kind of think you're agreeing with me now."
Oh YES I am. I'm a believer. Can you just tell me when I can get help with my Mortgage, Bills and the 10K we've spent on Health Care [OUT OF OUR OWN POCKETS [credit cards] this year?
Conservatism: is a term used to describe political philosophies that favor tradition and gradual change, where tradition refers to religious, cultural, or nationally defined beliefs and customs. The term is derived from the Latin, conservâre, to conserve; "to keep, guard, observe". Since different cultures have different established values, conservatives in different cultures have different goals. Some conservatives seek to preserve the status quo or to reform society slowly, while others seek to return to the values of an earlier time, the status quo ante.
Liberalism: refers to a broad array of related ideas and theories of government that consider individual liberty to be the most important political goal. Broadly speaking, liberalism emphasizes individual rights and equality of opportunity. Different forms of liberalism may propose very different policies, but they are generally united by their support for a number of principles, including extensive freedom of thought and speech, limitations on the power of governments, the rule of law, the free exchange of ideas, a market or mixed economy, and a transparent system of government.[2] All liberals – as well as some adherents of other political ideologies – support the form of government known as liberal democracy, with open and fair elections, where all citizens have equal rights by law.
Now why ANYONE would want to be a Conservative, thus a Republican is beyond me.
The Founding Fathers were Liberals, as evedent in the Constitution, why Conservatives are always trying to rip that document apart is beyond me.
> Now why ANYONE would want to be a Conservative, thus a Republican is beyond me.
Here are some thoughts on Conservatism from Republicans:
"A great democracy must be progressive or it will soon cease to be a great democracy." - Theodore Roosevelt
"A conservative is someone who believes the problem with our economy is that poor people have too much money." - Bob Orben, speechwriter for Gerald Ford
<< <i>The Founding Fathers were Liberals, as evedent in the Constitution, why Conservatives are always trying to rip that document apart is beyond me. >>
Let's face it: the definitions of "conservative" or "liberal" in the political sense have little to do with the traditional usage of those terms.
As a result we see both sides distorting definitions to suit their own agendas.
<< <i>let me clarify: yes, the economy IS booming for people that are already well-off, but certainly NOT for the middle class on down.... >>
The middle class and the poor will always be the middle class and the poor. When the middle class and the poor take advantage of the booming economy they will no longer be part of the middle class or the poor.
Why do people make it sound like it's so bad to be part of the middle class or the poor.
I've been poor, I've been middle class and I've been upper class. I'm still the same person, have the same friends and nothing has changed other than the toys I can buy. In fact some of my happiest memories are from when I was poor. Living week to week and actually going backwards at that time.
You guys that think it is so bad please go back and try to remember the 70's with high unemployment, high interest rates and gas shortages.
<< <i>> You have certain people who display zero depth debating the differences and benefits between left wing socialism and right wing socialism. Neither can even define the principles of socialism nor freedom obviously.
I agree completely. Of course, my idea of whom is uninformed will differ from yours. >>
If one has the depth ( doesn't take much ) to understand what the basic principle of socialism is, there can be no disagreement. It's a one word principle too . You don't know it.
Comments
<< <i>We have the strongest economy despite what the dollar trades for >>
<< <i>
<< <i>We have the strongest economy despite what the dollar trades for >>
BH is confused. Here you go, from todays's New York Times:
The New York Times
By MICHAEL M. GRYNBAUM
Published: October 31, 2007
The economy expanded faster than expected in the third quarter, led by a surge in consumer spending and exports, the government reported today...The 3.9 percent annual growth rate compared with 3.8 percent in the second quarter and 0.6 percent in the first quarter. The report from the Commerce Department is a preliminary estimate of gross domestic product in July through September, a volatile period that included the bleakest moments of the summer’s subprime mortgage collapse.
The growth rate, which beat most analysts’ expectations, adds a new wrinkle to the Fed’s deliberations at today’s meeting. The central bank is expected to cut its benchmark interest rate by a quarter-point in response to widespread concerns about the lagging housing market and a credit squeeze.
But today’s G.D.P. report presents a more cheerful view of the economy. The growth rate was the fastest since the first quarter of 2006. Consumer spending expanded at more than twice its rate in the second quarter, rising 3 percent after a 1.4 percent gain in the second quarter with a surge in sales of big-ticket products like appliances and furniture. Businesses spent more, too, with producer expenditures growing at a 7.9 percent annual rate, down slightly from 11 percent in the second quarter.
“There was more momentum than recognized going into the financial crises of the summer,” said Stuart G. Hoffman, the chief economist at PNC Financial. But Mr. Hoffman warned the G.D.P. numbers masked a slowdown since August. “It sure hit a headwind when we saw the problems on Wall Street,” he said.
That's right, even The New York Times is reporting how strong the economy is. Sorry doom and gloomers, you're missing the good ol days
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
<< <i>All I know is that it isnt helping me buy Swiss coins very cheaply.
John >>
Hey, laddie....the Carry Trade is whats keeping the lid on the CHF. Just watch, .85 will also soon be at par, and heaven forbid if the Swiss start to repatriate.
<< <i>Nothing beats a good German beer. >>
How about a German hotel during a heat wave?
<< <i>
<< <i>Nothing beats a good German beer. >>
How about a German hotel during a heat wave?
No A/C no fan, please, I think not. The coldest thing in Germany is the beer and during the summer it is a God send. Apparently they already know this so there is plenty to go around. The concept of ice cubes still hasn't caught on in Islamaeurope quite yet but may or may not be unveiled in the future.
What's funny is I just sold something to a Canadian. He's paying with a Cert. Check. I said pay in U.S dollars please. What a goof !!
I should have said pay in Canadian dollars please.
<< <i>That's right, even The New York Times is reporting how strong the economy is. Sorry doom and gloomers, you're missing the good ol days >>
What a difference a day makes.
BH is confused. Here you go, from todays's New York Times:
The New York Times
By MICHAEL M. GRYNBAUM
Published: October 31, 2007
The economy expanded faster than expected in the third quarter, led by a surge in consumer spending and exports, the government reported today...The 3.9 percent annual growth rate compared with 3.8 percent in the second quarter and 0.6 percent in the first quarter. The report from the Commerce Department is a preliminary estimate of gross domestic product in July through September, a volatile period that included the bleakest moments of the summer’s subprime mortgage collapse.
The growth rate, which beat most analysts’ expectations, adds a new wrinkle to the Fed’s deliberations at today’s meeting. The central bank is expected to cut its benchmark interest rate by a quarter-point in response to widespread concerns about the lagging housing market and a credit squeeze.
But today’s G.D.P. report presents a more cheerful view of the economy. The growth rate was the fastest since the first quarter of 2006. Consumer spending expanded at more than twice its rate in the second quarter, rising 3 percent after a 1.4 percent gain in the second quarter with a surge in sales of big-ticket products like appliances and furniture. Businesses spent more, too, with producer expenditures growing at a 7.9 percent annual rate, down slightly from 11 percent in the second quarter.
“There was more momentum than recognized going into the financial crises of the summer,” said Stuart G. Hoffman, the chief economist at PNC Financial. But Mr. Hoffman warned the G.D.P. numbers masked a slowdown since August. “It sure hit a headwind when we saw the problems on Wall Street,” he said.
Every story has another side. Here's what Mogambo had to say yesterday:
Check this out: "Gas prices hit a record nationwide average of $3.23 per gallon in late May before receding a little, though prices are expected to soar again later this year. Food costs have increased 4.5 percent over the past 12 months, partly because of higher fuel costs. Egg prices were 44 percent higher, while milk was up 21.3 percent over the past 12 months to nearly $4 a gallon, according to the Bureau of Labor Statistics."
The result is that when prices go up faster than income, then people start suffering, as is proved by Rev. Melony Samuels, director of The BedStuy Campaign Against Hunger, which is "a church-affiliated food pantry in Brooklyn." She says that, "The pantry scrambled to feed 5,000 new families over the past 12 months, up almost 70 percent from 3,000 the year before."
Up 70% in one year! And this is 5,000 new families in dire need, right there in that one place in Brooklyn! Multiply that times the number of all the places in America that are suffering the results of higher consumer prices, which is the inevitable result of the filthy, despicable Federal Reserve creating the money and credit to cause the higher prices, and this is so intolerable that what we ought to do is rise up in open rebellion and install Emperor King Mogambo (EKM) on the throne to rule with an iron fist in one hand and a tasty Taco Supreme in the other, smiting and lashing out in unrestrained fury at Congress, the Supreme Court and the Federal Reserve until all the people are horrified and are begging, "Please stop punishing them, Merciful And Handsome Mogambo (MAHM), as they have been cruelly whipped and beaten for their sins, and now they must languish in the infamous Mogambo Dank Dungeon Of Dread And Despair (MDDODAD)!"
Call me uninformed, but who is pictured opposite Hillary? Is that her mistress? If so, she did quite a bit better than Bill, I'd say.
I knew it would happen.
<< <i>Should be good for the tourism industry. Americans will stay put and the world will visit. >>
We have enough "visitors" from other countrys, mainly south of the border. The problem is they don't ever leave.
That's pretty funny! The New York Times is the other side.
And what is a Mogambo, pray tell? And is it more relevant then The New York Times? Seems like anecdotes without support, huh? Lame.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
.....let me clarify: yes, the economy IS booming for people that are already well-off, but certainly NOT for the middle class on down....
Do you take paypal?
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
You bought a house, two new cars, and some other toys...your neighbors were impressed. Suddenly you find that you cannot make the payments, who cares - you refinance your house and continue to live the same standard of living. Soon you're out of money again so you turn to credit cards to pay for the toys that you have, and hey, what the heck...you buy a few new ones. It appears to others that you're living the good life, but once the surface is scratched it's easy to see that you're living hand to mouth and will do much suffering before your debt is paid - maybe you'll be lucky and be able to hand the debt to your kids.
This is the same thing that's going on with the US economy, only in a larger scale. We continue to suffer under huge deficits and trade imbalances, the nation as a whole has had a negative savings rate for two years or so...the purchases being made (that are being touted as a positive economic indicator)are not being paid for. The administration is largely keeping the funding for the Iraq war off the books to make things look better than they really are. The dollar is falling, and has fallen nearly 50% under this administration - we have more dollars, but each is worth less than it was.
Anyone that claims that the economy is doing great is misleading you...do some homework, dig under the surface. It's not as rosey as some would have you believe, as can be attested to by most Americans.
<< <i>Anyone telling you that the US economy is doing good is conveniently omitting most of the facts. You can compare the US economy to your family finances:
You bought a house, two new cars, and some other toys...your neighbors were impressed. Suddenly you find that you cannot make the payments, who cares - you refinance your house and continue to live the same standard of living. Soon you're out of money again so you turn to credit cards to pay for the toys that you have, and hey, what the heck...you buy a few new ones. It appears to others that you're living the good life, but once the surface is scratched it's easy to see that you're living hand to mouth and will do much suffering before your debt is paid - maybe you'll be lucky and be able to hand the debt to your kids.
This is the same thing that's going on with the US economy, only in a larger scale. We continue to suffer under huge deficits and trade imbalances, the nation as a whole has had a negative savings rate for two years or so...the purchases being made (that are being touted as a positive economic indicator)are not being paid for. The administration is largely keeping the funding for the Iraq war off the books to make things look better than they really are. The dollar is falling, and has fallen nearly 50% under this administration - we have more dollars, but each is worth less than it was.
Anyone that claims that the economy is doing great is misleading you...do some homework, dig under the surface. It's not as rosey as some would have you believe, as can be attested to by most Americans. >>
Bleckhawk the economist speaks!
if she gets elected i see gold at 2000 a few years after she takes
office. :-(
and politics has EVERYTHING to do with this thread
Gold has a better shot of hitting 2000 in the next 15 months. When you have nearly all major currencies up from 50% to 90% in the past 6 years, a budget surplus to endless defecits during the same time frame, how can any rational person that understands basic economics believe the drivel that economic times are good.
I recall in the 1960's another war and another Texas president getting us involved in a huge escalation without an end game to get out and finish it. 10 years later after we achieved "peace with honor" we found ourselves with crazy inflation, a 22% prime rate, a gagging economy and a war that was lost.
You're right about one thing it's going to take several years to undo the damage done. And it has nothing to do with political parties but everything to do with disastrous long term decisions by Imperialist Presidents from Texas. Sorry to some of my Texas friends but that's how it is.
I will say one thing though, loyal to the end for so many. Amazing.
Website-Americana Rare Coin Inc
Mogambo is an economist. He writes regularly and posts on Kitco and SafeHaven. Very entertaining, somewhat insane, but more importantly he assembles economic data from a variety of economic reports. You oughta read him occasionally. And he does cite his sources.
I knew it would happen.
<< <i>So Blackhawk let me see if I understand. Since Americans individually got into credit problems to pay for a HOUSE, 2 CARS, 5 TV's, 2 CELLPHONES, 2 COMPUTERS, etc. it should be blamed on the current government. Poor middle class. Horrible standard of living. Maybe if our educational system wasn't so concerned about passing on their social and moral agenda to our children they could actually teach some economic skills to them. >>
The whole US...federal, state, and local governments along with individuals, have been spending to make things look better than they really are. You can deny and ridicule, but in the end I think that most here know that when looking at the facts, the economy is getting worse instead of better. All we're trying to do now is prop up the stock market so the movers and shakers can get a bit more juice out of the lemon before it shrivels completely.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Yes, there were a lot of republicans in the congress when they controlled it from 2002 to 2006 voting for pork-laden bills, and I mean GRADE A PORK! They never saw a spending bill they didn't love, and President Bush never saw a spending bill he would veto.
The famous Bridge To Nowhere for $320,000,000.00 come to mind.
All this socialism is bad for America (socialism for the rich and cronies). How about no-bid contracts for Halliburton even after they served sewage to our troops as "water"?
On the subject of the war and its spending, we should look to a famous politician for wisdom:
"Victory means exit strategy, and it’s important for the president to explain to us what the exit strategy is." - George W. Bush, 1999
The exit strategy is not to exit. We are there to stay. You do understand why we are still in S Korea, right? Same concept, different enemy.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
News to me, or maybe just a flip-flop. I've heard all kinds of reasons from the administration for their Oil War, and the reason changes every couple of months. I still haven't heard that we are there to stay. Are you an administration insider?
I'm not sure which troops are going to be stationed there forever, or how we are going to pay for this endless occupation at the current rate of hundreds of billions a year.
Maybe you have more "inside information" about these topics.
<< <i>
All this socialism is bad for America (socialism for the rich and cronies). How about no-bid contracts for Halliburton even after they served sewage to our troops as "water"?
>>
Oh I love that line about socialism for the rich. Socialism is immoral no matter who it benefits because of the basic principles on which it is founded.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Nobody answered me on another thread when I posted this, so maybe you want to take a shot....who said the following quote?
"All the property that is necessary to a Man, for the Conservation of the Individual and the Propagation of the Species, is his natural Right, which none can justly deprive him of: But all Property superfluous to such purposes is the Property of the Publick, who, by their Laws, have created it, and who may therefore by other laws dispose of it, whenever the Welfare of the Publick shall demand such Disposition. He that does not like civil Society on these Terms, let him retire and live among Savages. He can have no right to the benefits of Society, who will not pay his Club towards the Support of it."
Numis, what the hell are you yammering about? This is a typical ROBpubliCON reply...answer a completely different question or generalize something to the point of absurdity. Kind of like when Bush vomits on and on about, "I'll never be against freedom!"....guess what jackass, nobody ever said you were, that's not even what we're talking about.
Bleckhawk the economist speaks!
ebaytrader, when faced with a well thought out reply, your response is also typical ROBpubliCON: i.e. attempting to dismiss what you don't understand.
"
Hey Slammer. Maybe you could fill in for the uninfomed all the GREAT things The Democrats did in the FIRST 100 DAYS and since then to save us ALL from the"VAST RIGHT WING CONSIPRACY". I just have a hard time remembering what it is!
Geez, this sure means a lot to you. So I'll bite. God Herself?
No, shirley it's someone we would never have thought of, someone who is revered for their widson, the identity of whom will shock and astound. Am I right?
Or it's the opposite. Really, who cares.
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
``https://ebay.us/m/KxolR5
One thing Dems are currently trying to do is to pass a renewal to the S-Chip insurance coverage for poor children....but guess who will veto that AGAIN?
Among other things, the Democrats passed HR 2 and S.1082 , making a stronger FDA.
The Democrats passed S.761, helping R&D funding so America can compete. They have also increase spending on
They passed S.1, ethics reform (needed after the notorious Delay/Abramoff/Cunningham/Scanlon/Doolittle/Ney/Burns/Frist graft and influence peddling scandals)
They passed S.214, to protect the political independence of US Attorneys. (this kind of thing wasn't needed until now, since US Attorneys were vetted so openly on their political beliefs under Bush)
HR.2 increases the minimum wage, which hasn't been raised under the barrage of inflation we have had for years.
They passed S.4, which puts into place a number of 911 Commission recommendations. Guess the Dems were needed to pass laws that actually make the country more secure!
<< <i>Metalsman, undoing years of ineptitude is gonna take some time.
One thing Dems are currently trying to do is to pass a renewal to the S-Chip insurance coverage for poor children....but guess who will veto that AGAIN? >>
Why don't you take your political crap over to the DU and not this forum. This is a U.S. COINS forum and not "I am a clueless liberal" forum. Geez.
<< <i>"Nobody answered me on another thread when I posted this, so maybe you want to take a shot....who said the following quote?"
Geez, this sure means a lot to you. So I'll bite. God Herself?
No, shirley it's someone we would never have thought of, someone who is revered for their widson, the identity of whom will shock and astound. Am I right?
Or it's the opposite. Really, who cares. >>
OK, so it's established you hate one of the Founding Fathers' ideas.
I posted that quote just to keep things coin-related. The guy who wrote that interesting thought had his visage appear on the Half Dollar from 1948 to 1963.
One thing Dems are currently trying to do is to pass a renewal to the S-Chip insurance coverage for poor children....but guess who will veto that AGAIN?"
So its going to take longer than 100 days
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I agree completely. Of course, my idea of whom is uninformed will differ from yours.
Oh YES I am. I'm a believer. Can you just tell me when I can get help with my Mortgage, Bills and the 10K we've spent on Health Care [OUT OF OUR OWN POCKETS [credit cards] this year?
Here are the definitions:
Conservatism: is a term used to describe political philosophies that favor tradition and gradual change, where tradition refers to religious, cultural, or nationally defined beliefs and customs. The term is derived from the Latin, conservâre, to conserve; "to keep, guard, observe". Since different cultures have different established values, conservatives in different cultures have different goals. Some conservatives seek to preserve the status quo or to reform society slowly, while others seek to return to the values of an earlier time, the status quo ante.
Liberalism: refers to a broad array of related ideas and theories of government that consider individual liberty to be the most important political goal.
Broadly speaking, liberalism emphasizes individual rights and equality of opportunity. Different forms of liberalism may propose very different policies, but they are generally united by their support for a number of principles, including extensive freedom of thought and speech, limitations on the power of governments, the rule of law, the free exchange of ideas, a market or mixed economy, and a transparent system of government.[2] All liberals – as well as some adherents of other political ideologies – support the form of government known as liberal democracy, with open and fair elections, where all citizens have equal rights by law.
Now why ANYONE would want to be a Conservative, thus a Republican is beyond me.
The Founding Fathers were Liberals, as evedent in the Constitution, why Conservatives are always trying to rip that document apart is beyond me.
Here are some thoughts on Conservatism from Republicans:
"A great democracy must be progressive or it will soon cease to be a great democracy." - Theodore Roosevelt
"A conservative is someone who believes the problem with our economy is that poor people have too much money." - Bob Orben, speechwriter for Gerald Ford
<< <i>The Founding Fathers were Liberals, as evedent in the Constitution, why Conservatives are always trying to rip that document apart is beyond me. >>
Let's face it: the definitions of "conservative" or "liberal" in the political sense have little to do with the traditional usage of those terms.
As a result we see both sides distorting definitions to suit their own agendas.
Partisan politics suck and they're getting worse.
<< <i>let me clarify: yes, the economy IS booming for people that are already well-off, but certainly NOT for the middle class on down.... >>
The middle class and the poor will always be the middle class and the poor. When the middle class and the poor take advantage of the booming economy they will no longer be part of the middle class or the poor.
Why do people make it sound like it's so bad to be part of the middle class or the poor.
I've been poor, I've been middle class and I've been upper class. I'm still the same person, have the same friends and nothing has changed other than the toys I can buy. In fact some of my happiest memories are from when I was poor. Living week to week and actually going backwards at that time.
You guys that think it is so bad please go back and try to remember the 70's with high unemployment, high interest rates and gas shortages.
<< <i>> You have certain people who display zero depth debating the differences and benefits between left wing socialism and right wing socialism. Neither can even define the principles of socialism nor freedom obviously.
I agree completely. Of course, my idea of whom is uninformed will differ from yours.
If one has the depth ( doesn't take much ) to understand what the basic principle of socialism is, there can be no disagreement. It's a one word principle too . You don't know it.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870