Economy

[ddmoit]

Today, gold (http://www.lewrockwell.com/blumert/burt-gold.html) is trading at nearly $675 an ounce.

A barrel of oil (http://biz.yahoo.com/ap/070719/oil_prices.html?.v=7) is near $75.

A gallon of gas is over $3.

The Dow is over 14,000

A private company is raising the price of a flight into space from $25 million to $30 million because they say the Dollar is worth less.

The US Dollar is trading at historic lows (http://biz.yahoo.com/ap/070718/dollar.html?.v=7) against the Euro and a number of other currencies.

The value of these things is not really up; the Dollar is down!

We have inflation folks. Don't let the fed tell you otherwise. They can manipulate the consumer price index to suit their needs.

Those of you who are in possession of, and get paid in US Dollars are being robbed right now.

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[Scooter]

Typically when our budget runs amok and there is not enough revenue to pay for spending programs, thats what happens.

[ddmoit]

Anyone who possesses and is paid in US Dollars.

http://www.bloomberg.com/apps/news?pid=20670001&refer=&sid=axpjBSgK8pgc

The Fed created the housing bubble by messing with interest rates - a feat made possible through fiat currency. You will pay for their actions in the form of reduced buying power. It's no different than stealing money from your wallet, except it legal.

[flatfloor]

Currency speculators have no hand in this?

[ddmoit]

Flat,

Currency speculators are not the reason that it take nearly $21 today to buy what $1 bought in 1913. The Fed had sapped over 95% of the value of a dollar since its creation.

http://www.minneapolisfed.org/research/data/us/calc/

[Scooter]

Jim, it is a free market economy--dollars are bought and sold. The foreign investors obviously feel that the American Dollar is worth less than it was a year ago, compared to the Chinese and Euro.

And if you think about it, our Country is in a pickle and so's our ecomony. We are likely to be stuck in Iraq for at least another decade, borrowing money from the Chinese to fund a war in Iraq and running a huge deficit.

Most of my stock in is Chinese securities--I made 40% last year.

So, yes, the currency speculators are the cause of this, but the root cause is the current state of affairs, negatively perceived by everyone in the World, except Sean Hennity.

[flatfloor]

it take nearly $21 today to buy what $1 bought in 1913.

C'mon Dan, I agree with what Scooter is saying but that statement is totally irrelevant.

Scooter I wonder how much the yen would be worth if it were allowed to float freely.

[dl]

Scooter's right that the primary culprit here is the trade deficit (http://www.globalpolicy.org/socecon/crisis/tradedeficit/tables/trade.htm) (scroll down to the graphs), particularly since 2000. Currency trading just reflects current markets and trends.

- DL

[ddmoit]

They could do this.... http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/07/bcnchina107a.xml

And folks here would blame China, but the real culprit is our own Federal Reserve system which made this possible.

[chuck stevenson]

Once upon a time, I learned that the economy goes from bad to worse, then the cycle repeats itself.

One of the other things I have learned(besides I don't know jack) is your expenses rise to meet your income.

[jvcstone]

expenses rise to meet your income.

seems to me, the new American way is for expenses to rise above income by 10-15%

JVC