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Need a Hand?
Your Next Project Starts with Brownstoner
no happy 3/4th birthday wishes? 🙁
missile launch:
Penatagon: “no clue?”
http://www.cbsnews.com/stories/2010/11/09/national/main7036716.shtml
lech,
someone did.
Kens hasnt been posting much at all since that early post so I say his multi-tasking accumen STINKS and needs more (much more) practice – ie starting posting man (like NOW)
Pete – By the time I got there it was legit so no one else had tickets.
Legio, China didn’t launch anything near our coast. That’s just silly.
etson, bought those gold bars when all the banks look like they could kapoop and I didnt trust the ETF’s – ie rather have the bars in the bank safe then some paper confirmation from some ETF firm that said how many shs of GLD I have. it’s pricey transaction cost with physical gold. think I paid $50 for the $880/oz
Much as I don’t understand current economic policy, the fact that people who are quite a bit more intelligent than I am are working on it makes me inclined to trust how we go forward.
Although why the smartest people in a room go for economics nowadays instead of science is beyond me.
Today’s Money Angst Made Simple:
-The dollar is no longer backed by Gold.
-The dollar is backed by the “Faith and Good Will” of the
USA.
-The US dollar is the World’s Reserve currency. which means it’s like the standard by which others are kept in check. (This is only because we appear to be the most stable of nations). Thanks to our military and no thanks to liberals who would dismantle it in a minute if they could.
-Right now, the USA has Debt to GDP ratios which are unsustainable. Meaning that paying the interest on our national debt alone could eat up most of our yearly budget.
-Other countries which bought US debt are getting nervous.
Like China. (Could this have anything to do with an unexplained missle launch off the coast of San Deigo yesterday?hummmm)
-China has been actively setting itself up as the new big boy on the block. This means a new fleet of nuclear submarines with long range missle capabilities (thanks to Bill Clinton and the Loral deal). Not to mention a 10 Million man army.
-President Obama, ever the liberal, apparently doesn’t believe that debt is a problem. Probably because he never created a job in his life and has gone through his entire adult life on the good graces of private sector tax dollars.
-I believe Obama is playing a simple game at heart,
that is, he believes that the USA is too big to fail,
so he will continue to devalue the dollar and spend as he sees fit. Basically mortgaging our future. This strategy is employed routinely in Las Vegas where pawn shops are filled with the valuables of persons who believed with all certainty that they could win it all back with just one more roll of the dice. Their prized posession left on the wall of a pawn shop for others to buy at will, and with only the gambler’s good faith and will left of his treasure.
-FDR’s spending didn’t get the US out of the depression, in fact his policies extended it.
What finally jolted the US out of depression was a change in monetary policy in which the Fed changed the exchange rate for dollars for a higher value in gold.