Ron Paul Humiliates Ben Bernanke so bad that CNBC had to cut him off.

Quote from opt789:

I lost faith in CNBC a long time ago. When the news broke that one of NBC's nighttime "news" programs faked an explosion of a GM truck, GM was giving an emotional news conference about what NBC did. Well wouldn't you know it, I was watching CNBC at the time and they conveniently cut off the news conference the second they figured out what GM was saying and never went back to it. I had to turn to Court TV to watch. You can claim the Ron Paul cutoff was coincidentally, but what I saw was blatantly obvious.

Opt789, it has been a long established philosophy that mass media's prime objective is to control majority, people that wish to think for themselves simply can't rely on mass media coverages, it's pure maipulation of our minds. Media is one of the most powerfull weapons as it controls out conscious thought process.
 
Going forward wages Will Not keep up with the cost of life sustaining commodities. Have wages kept pace with increased housing, insurance, food and energy costs over the past decade? Then why think you'll see a reversal. The trend is toward more equal footing among nations coupled with wider net worth disparities within nations.

These are times to take your trading very seriously guys. There's no net below. Concentrate on ways to make what you need not what you want. This isn't about trying to buy Bentleys anymore it's about having enough to prudently diversify. We've just witnessed simultaneous depreciation of both assets and dollars. Yet at the same time common sense stuff hangs tough. There will be SUPER opportunities from now on. Super risks too......
 
Not great stats. Why? Because two people working isn't the way it's supposed to be! You're comparing apples (1 breadwinner) to oranges.

What happened to marriage? And kids? What happened to white kids? We're disappearing into a sea of black, yellow and brown. Why? Because western women are like creatures from a Poe tale. They'd rather start careers, get off on a battery device and abort the few who successfully fertilized within them-all for a more decadent material life. Gay's too. In the 1950 census Chicago contained 3.3 million whites and 18,000 Mexicans. Today the city of Chicago is 38% white (a white population now under a million), with a school system that's just 11% white and a Latino population of over one million. Dozens of American cities echo the same story.

Two generations ago families lived in tenements instead of suburbia. We were once like this new crop of child creating immigrants. But today the temptation of living large takes precedence over being “strapped” with kids.

So yea a bunch of childless cretins, a generation or two away from extinction of race are indeed pumping out increased household income. There's other things they'd better pump out too.......

Quote from TraderZones:


This also has no meaning. People make a certain amount of money and things cost a certain amount of money. Wages and costs both go up.

The average family in 2006 made almost 3 times the income as people in 2006 (in 2006 dollars). Inflation and time value of money is already factored in.

Basically, people have gotten wealthier on average every year. Some, but not all families are 2-income, but regardless, the average American is much better off now than a long time ago.

And do we want to go back to the 1800s? When most Americans were relatively destitute? No stocks or investments or retirement. Few possessions. Basically working hard and dying young?
___________________________________________________________________
ALL FAMILIES - MEAN FAMILY INCOME

YEAR, $$$WAGE, IN 2006 $$$

1947 3,546 27,414
1948 3,671 26,256
1949 3,569 25,838
1950 3,815 27,286
1951 4,194 27,782
1952 4,457 28,941
1953 4,706 30,358
1954 4,684 29,955
1955 4,962 31,871
1956 5,341 33,792
1957 5,443 33,368
1958 5,565 33,155
1959 5,976 35,390
1960 6,227 36,224
1961 6,471 37,277
1962 6,670 38,054
1963 6,998 39,394
1964 7,336 40,754
1965 7,704 42,088
1966 8,395 44,628
1967 8,801 45,400
1968 9,670 47,961
1969 10,577 50,270
1970 11,106 50,360
1971 11,583 50,289
1972 12,625 53,176
1973 13,622 53,996
1974 14,711 53,056
1975 15,546 51,779
1976 16,870 53,141
1977 18,264 54,080
1978 20,091 56,982
1979 22,316 57,760
1980 23,974 55,851
1981 25,838 54,961
1982 27,391 54,949
1983 28,638 55,099
1984 31,052 57,394
1985 32,944 58,870
1986 34,924 61,298
1987 36,884 62,622
1988 38,608 63,229
1989 41,506 65,164
1990 42,652 63,784
1991 43,237 62,421
1992 44,221 62,263
1993 47,221 64,882
1994 49,340 66,377
1995 51,353 67,461
1996 53,676 68,684
1997 56,902 71,272
1998 59,589 73,610
1999 62,567 75,709
2000 65,773 77,008
2001 66,863 76,147
2002 66,970 75,056
2003 68,563 75,163
2004 70,389 75,134
2005 73,304 75,707
2006 $77,315 $77,315

from: InflationData.com
 
Pabst, not childless cretins. Poorer people should choose to have less children if they can not afford to meet the needs of those children. Maybe you should question why those with the financial means still choose to have less children, when they can afford those children. These are the affluent and educated who who weigh the financial risks of children, not the poorer people.
 
Quote from Pa(b)st Prime:

The dollar decline hasn't been caused by budget deficits. Read any of my recent posts on the subject. If fiscal policy was the culprit then the Yen would be worthless. The Euro too. U.S. budget deficits are running around 1.5% of GDP. Not exactly huge.At the end of the day the biggest cause of dollar weakness is the trade deficit. Period. The operative word in FX is exchange. Dollars leave in exchange for products but too few of our products are exported in exchange for other currencies. Thus the currency markets are making a revaluation based on the most important fundamental of all. Supply and demand.

With a grossly negative trade balance monetary policy can move in either of two directions .Keep rates high and artificially attempt to keep dollars rare and hence valuable. Or Fed policy can cut rates and hope that a lower dollar stimulates export activity while in turn making imports less competitive to domestic producers. Since the latter isn't happening-we don't even make enough worth exporting any longer-an accomodative Fed policy is inflationary and ultimately dangerous.

I can't emphasize enough that the world is finally tired of working on our plantation. On what planet do you all think a barista at Starbucks can continue to earn two gallons of gasoline in an hour of work while a nurse in Malaysia toils a couple of days to buy the same products/commodities? The allocation of global goods and services are not going to keep trending in such an unjust direction.

We enjoyed a great scam for too many years. We make nothing, export nothing yet expect guys in China to manufacture everything under the sun for us- and get paid squat in return. All in exchange for a piece of paper issued by the U.S. Treasury. A welfare recipient in the States makes several times the average working wage in neighboring Mexico. Thank God the Mexicans aren't as smart or enterprising as Asia. We'd already be toast.

I know my fellow Americans hate hearing this. They'd rather blame Bush, blame Bernanke, blame Congress, blame business, blame OPEC, blame whoever. Just as long as we don't blame ourselves.

The blame though is in the mirror. The blame goes to those who sold out American workers for that cheaper suit made in Brazil. Or for that sporty car Detroit just couldn't build to our yuppie scum specifications. We were taught menial work was beneath us so we trade. Or write mortgages. Or whatever. Just as long as our fingers are clean and unbroken. For those who were forced to toil on the assembly line we demanded the wages of kings. Or at least the same wage as the mortgage broker or BMW salesman. How did our fellow consumers react? They told us to F off. They said Asia builds my dreams cheaper. The formally starving Chinaman didn't strike for higher wages and a comprehensive retirement package. He just performed the tedious work of a robot and now our dollars are fueling his dreams. A dream of a dinner other than rice. Of a ride less laborious than on a bicycle. All good in the moral minefield of global trade and wealth redistribution. Yet with all we STILL have, we whine. And blame. America is filled with bitching, whining, duplicitous losers. A nation literally of cock suckers. A place that cares more about homo marriage, abortion and keeping guns away from young black men who squander and drop out from $15,000 a year worth of education as if they don't need it. Some say we're like Rome. I say that's unfairly disparaging to the Romans.

Anger coupled with clever word play doesn't make you any more correct. You act like America produces nothing. We still produce 25% of the worlds goods. We are still the leading producer and we are producing at levels we have never seen before. China isn't stealing real manufacturing jobs, technology is. But this frees up workers to move on to better fields. It forces americans to educate further and to innovate more. I think you are looking at this all the wrong way. We are evolving as an economy into a different role. Where machines do our dirty work and we can go on to better things.
 
I'm often guilty of forgetting CNBC is the brainchild of NBC, the most biased network out there.. I wouldn't trust NBC Universal to feed my fish, but I often catch myself watching CNBC with my guard down.
 
USD Collapse is mostly M3 printing, then trade deficits, then budget.

Look at Zimbabwe. Hardly any trade or budget and their currency is worthless. They printed too much and the market adjusted...
 
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