Not at all. The worlds fiat currencies are dropping in local buying buyer together as a group regardless of what they are doing compared to one another. The US problem is very different too, we have "the currency" which is used for most of the worlds oil transactions. Once that goes away we are in an accelerating devaluation trap. When "demand" for the Dollar is in rapid decline that is a game changer.
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Barack Obama Wants Your Money As You Tumble From The Fiscal Cliff
- Thread starter Robert A. Green
- Start date
Only facts. The world is dependent on oil in a massive way and most of the world uses US Dollars to transact their import consuption. Yes or No?Quote from trefoil:
Actually, he's just another ignoramus who thinks the value of the dollar has something to do with oil. The usual crap spewed by dumbass conspiracy nuts.
If you don't believe this then you are not in an informed place to even discuss this reality.
Quote from trefoil:
I've said this before, I'll say it again: I have a bookshelf full of books by Paul Einzig (who dat???).
I once went through the indexes looking for a single mention of oil or energy.
Never mentioned. Not even once.
Stop embarrassing yourself and get an education.
Einzig died in 1973. While I'm not a believer in the idea that someone's ideas can't be based on permanent principles, rather than fleeting historical relationships, it is definitely the case that the global economy, currencies and oil have interacted over the past 40 years in ways that someone writing even in the late 1960's would have had a hard time predicting.
Point being that perhaps your bookshelf full of books doesn't contain as much actual insight into the realities of today as you think it does.
there aren't enough eurodollars in existence to cover the oil trade. Sovereigns are already starting to trade in SDR's (Special Depository Receipts) and it's up to each country to keep their own little currency and own little people happy.Quote from RenkoTrades:
oldtime, I am talking about "buying power" of the US Dollar for the common man. The fact is, the US Dollar is only really in demand because of the ties to large oil trade transactions. Once the "need" for the US Dollar to transact large oil trade deals is gone the US Dollar is in big trouble. The US bond market will get whacked by this rapid demand destruction too.
I have been reading as much as I can find, and the oil deals transacted in US Dollars has made a big shift. The trend has started now away from the US Dollar and the little old BOJ can't do anything about it.
It is rather obvious, isn't it?, that the U.S. is attempting the Keynesian method of extracting the country from a very deep recession. Ultimately I would guess the success or failure of this will depend on whether enough new jobs in other industries and other pursuits can be created to replace those jobs that are never coming back. That's a tall order, but this appears to be the direction that the Obama administration is trying to take.
An alternative is the so called austerity approach, where you bite the bullet, tighten the belt, throw the country into depression and deflation and wait for the storm to pass. But we are already too far down the road we have chosen to turn back, in my opinion. And in any case I think we chose the correct road.
Obama has disappointed me greatly on some Bill of Rights issues, but overall he is leading the country in the right direction against a strong Republican headwind. The Grover Norquist solicited pledge has clearly been one of the damaging political moves in our nation's history. I don't know if the damage can be undone, but it seems there is hope that it can be.
No one wants higher taxes. But no one wants the streets filled with the destitute either. If we are going to move forward and restore the country to full employment it's going to require re-building an American middle class. Initiating this process will require Federal spending. Practically speaking, if unacceptable damage to the nations social fabric is to be avoided, that money has only very limited sources, the two most obvious being DOD and expiration of the Bush era tax cuts in the upper brackets. (But there are a few other reasonable sources as well. And of course borrowing and monetizing of the debt is a last resort, or should be. In times of crisis, such borrowing is unavoidable, but it can never be a permanent solution to economic problems.) I applaud the Obama administration for recognizing these cold, hard facts.
The Republicans are refusing to recognize the obvious and denying reality. What choice have we other than to re-elect the present administration?
It is a matter of priorities. It's a matter of necessity.
An alternative is the so called austerity approach, where you bite the bullet, tighten the belt, throw the country into depression and deflation and wait for the storm to pass. But we are already too far down the road we have chosen to turn back, in my opinion. And in any case I think we chose the correct road.
Obama has disappointed me greatly on some Bill of Rights issues, but overall he is leading the country in the right direction against a strong Republican headwind. The Grover Norquist solicited pledge has clearly been one of the damaging political moves in our nation's history. I don't know if the damage can be undone, but it seems there is hope that it can be.
No one wants higher taxes. But no one wants the streets filled with the destitute either. If we are going to move forward and restore the country to full employment it's going to require re-building an American middle class. Initiating this process will require Federal spending. Practically speaking, if unacceptable damage to the nations social fabric is to be avoided, that money has only very limited sources, the two most obvious being DOD and expiration of the Bush era tax cuts in the upper brackets. (But there are a few other reasonable sources as well. And of course borrowing and monetizing of the debt is a last resort, or should be. In times of crisis, such borrowing is unavoidable, but it can never be a permanent solution to economic problems.) I applaud the Obama administration for recognizing these cold, hard facts.
The Republicans are refusing to recognize the obvious and denying reality. What choice have we other than to re-elect the present administration?
It is a matter of priorities. It's a matter of necessity.
What I find most compelling is that you don't seem the slightest bit embarrassed about having written the piece, seeing as how you are bringing it to our attention here.Quote from Robert A. Green:
Please click to read my blog on Forbes, and let's discuss these issues. Taxes are becoming the defining issue of the next Congress.
Barack Obama Wants Your Money As You Tumble From The Fiscal Cliff
http://www.forbes.com/sites/greatsp...ur-money-as-you-tumble-from-the-fiscal-cliff/
Excerpt:
One thing is clear after these two conventions. Republicans wonât break their tax-protection pledge and President Obama is prepared to go over the fiscal cliff unless Republicans cave in. Get ready to be held hostage and for a bumpy road ahead.
If Obama wins re-election, I trust him at his word that he wonât extend the Bush-era tax cuts for the rich during the lame-duck session. And in 2013, I donât expect that Obama will reduce taxes on the rich, either. In tax reform, Obama wonât close tax loopholes on the middle class to finance lower taxes on the rich. If Obama wins, Republicans should consider accelerating taxable income into 2012, to get lower tax rates while they still can. Presto, Obamaâs hope and our tax change â ka-ching.
Quote from Brass:
What I find most compelling is that you don't seem the slightest bit embarrassed about having written the piece, seeing as how you are bringing it to our attention here.
Man, you're not kidding. The guy starts out saying "I lean Republican". Then he comes out with "In tax reform, Obama wonât close tax loopholes on the middle class to finance lower taxes on the rich."
Apparently, he's serious too. He's so extremist he thinks he only "leans" Republican. He's off the freakin map he's so far to the right, but he only "leans" Republican.
Where do these jokers come from?
The best part, by the way, is this useless fool is precisely that. He's a CPA, he'd be paid a tenth of what he's paid now if the tax code were made simple and without the loopholes his profession takes such advantage of for the folks who pay them.
Who, by the way, ain't middle class: they get their taxes done on Turbo Tax.
This guy sucks on the gov't teat, then writes this crap. Typical.
Who, by the way, ain't middle class: they get their taxes done on Turbo Tax.
This guy sucks on the gov't teat, then writes this crap. Typical.
you don't have much faith in Americans do you? According to you and your elitist friends, if the government doesn't do something the streets will be filled with destitutes.Quote from piezoe:
It is rather obvious, isn't it?, that the U.S. is attempting the Keynesian method of extracting the country from a very deep recession. Ultimately I would guess the success or failure of this will depend on whether enough new jobs in other industries and other pursuits can be created to replace those jobs that are never coming back. That's a tall order, but this appears to be the direction that the Obama administration is trying to take.
An alternative is the so called austerity approach, where you bite the bullet, tighten the belt, throw the country into depression and deflation and wait for the storm to pass. But we are already too far down the road we have chosen to turn back, in my opinion. And in any case I think we chose the correct road.
Obama has disappointed me greatly on some Bill of Rights issues, but overall he is leading the country in the right direction against a strong Republican headwind. The Grover Norquist solicited pledge has clearly been one of the damaging political moves in our nation's history. I don't know if the damage can be undone, but it seems there is hope that it can be.
No one wants higher taxes. But no one wants the streets filled with the destitute either. If we are going to move forward and restore the country to full employment it's going to require re-building an American middle class. Initiating this process will require Federal spending. Practically speaking, if unacceptable damage to the nations social fabric is to be avoided, that money has only very limited sources, the two most obvious being DOD and expiration of the Bush era tax cuts in the upper brackets. (But there are a few other reasonable sources as well. And of course borrowing and monetizing of the debt is a last resort, or should be. In times of crisis, such borrowing is unavoidable, but it can never be a permanent solution to economic problems.) I applaud the Obama administration for recognizing these cold, hard facts.
The Republicans are refusing to recognize the obvious and denying reality. What choice have we other than to re-elect the present administration?
It is a matter of priorities. It's a matter of necessity.
It's not just your view of Americans, it's your view of mankind.
We all have a choice. You can either believe most are good like you, or most are bad like them.