tag:blogger.com,1999:blog-20377909.post5812893940028092028..comments2024-02-26T08:05:58.174-08:00Comments on ECONOMICROT: Open ForumRandyhttp://www.blogger.com/profile/09221346085089343469noreply@blogger.comBlogger47125tag:blogger.com,1999:blog-20377909.post-36529043764687227102008-11-08T07:34:00.000-08:002008-11-08T07:34:00.000-08:00Anonymous (LL), thanks for your opinion regarding ...Anonymous (LL), thanks for your opinion regarding my comments. I appreciate that very much!<BR/><BR/>Justin, I feel as you do, too. I want to be optimistic about this new administration and their goals. I hope their solutions lead our economy out of the deep and dark hole that it is about to fall into. There is a great deal of momentum they have to fight against; and there still is 70 more days. <BR/><BR/> I am a cynic much of the time, but right now, I want to be optimistic. I am realistic today, because, just like all of Randy's terrific audience seems to be doing, I have been obsessed with reading and studying the state we are in. It sure does not look good. I have my doubts with Obama's choices for his cabinet, and confidants, but I will be willing to withhold criticism until they have a chance to take office and act. They are being bombarded by world pressures, and have very difficult tasks ahead of them. They have inherited a terrible mess.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-9869543975603477132008-11-07T21:06:00.000-08:002008-11-07T21:06:00.000-08:00http://www.plata.com.mx/mplata/articulos/articlesF...http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=89<BR/><BR/>The International Reserves were growing by leaps and bounds, as a consequence of the “Imbalances in International Trade”, where the countries which were issuing currencies accepted as Reserves were exporting huge amounts of their currencies in “payment” of their trade deficits. These currencies were then re-invested by the exporting countries in bonds and agency debt. The main actor was the US, which was able to fund its enormous fiscal deficits through the sale of these bonds and agency debts. It was a nice deal while it lasted for the US and, I suppose, for the Brits as well as the Europeans.<BR/><BR/>Now, if the Reserves are no longer growing but diminishing, this might indicate that the exporting countries are no longer buying and accumulating more US, British and European debt. If they are not accumulating more foreign currency bonds and debt, then the fiscal deficits of the US, the Brits and the European Union countries are no longer being funded – especially important to the US, which is running an immense fiscal deficit, what with the US Treasury going into debt like a drunken sailor on account of the need to bail-out all and sundry debtors.<BR/><BR/>Now if the US deficit is not being funded, then that means that the fiscal deficit is simply being monetized by the Fed. Or what else can it mean?<BR/><BR/>The US is on track to incur a fiscal deficit of $1 Trillion, perhaps much more, in this fiscal year. If the International Reserves are not growing, that means it will be impossible to fund that deficit. That would mean: monetary inflation in spades, in the US.<BR/><BR/>I’ll leave you with this question: what is the significance of the drastic change in the growth-trend of International Reserves, from explosive growth, to the sudden beginning of a contraction?<BR/><BR/>I hope others, more competent than myself, address this question. I believe it is quite important that we have an authoritative answer to it.Justin_n_ILhttps://www.blogger.com/profile/02364920951342189988noreply@blogger.comtag:blogger.com,1999:blog-20377909.post-18640308984534597882008-11-07T20:57:00.000-08:002008-11-07T20:57:00.000-08:00"I really enjoy your posts here, Jerry. You make a..."I really enjoy your posts here, Jerry. You make a lot of sense to me. Just wanted to say that.<BR/><BR/>And at the risk of being laughed at by everyone here, I'm cautiously optimistic about President Obama, too. It feels good to be hopeful, when I've been without hope for the last 7-8 years."<BR/><BR/>Just wanted to say that I do as well. It's just that we are at odds with one another when it comes to opinions on Obama. I certainly hope that I've never came off as condescending towards anyone. <BR/><BR/>Unless someone has read the bulk of my posts they might consider me to be a doom and gloomer with no hope. I have hope but I expect a deluge of doom and gloom before hand. Then I expect worldwide peace, liberty, justice, safety, etc. With you know who at the helm.<BR/><BR/>I know that many like to point to the fact that there are always such people in times of crisis(i.e. Great Depression, WW 2, etc.). However with a close study of the WORD things that are to occur directly before the peace, liberty, justice, etc. have just recently became possible.Justin_n_ILhttps://www.blogger.com/profile/02364920951342189988noreply@blogger.comtag:blogger.com,1999:blog-20377909.post-8402099919363323002008-11-07T20:27:00.000-08:002008-11-07T20:27:00.000-08:00I really enjoy your posts here, Jerry. You make a...I really enjoy your posts here, Jerry. You make a lot of sense to me. Just wanted to say that.<BR/><BR/>And at the risk of being laughed at by everyone here, I'm cautiously optimistic about President Obama, too. It feels good to be hopeful, when I've been without hope for the last 7-8 years.<BR/><BR/>LLAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-87292676030522414622008-11-07T12:33:00.000-08:002008-11-07T12:33:00.000-08:00I believe that the states are going broke. They ar...I believe that the states are going broke. They are experiencing serious revenue problems. As in PA, our infrastructure is old and decaying. Much of it is trying to get upgraded, from sewer and water, to bridges and roads. School buildings are old and in decay. The states cannot do it alone.<BR/><BR/>I do believe that we cannot dwell on what was and need to look at what is needed now. The free market philosophy drove mergers, consolidations, buyouts, etc. and that is why these corporations grew into monopolies and conglomerates. That was unfortunate. Many of these oligarchs had such power that they bought our legislators into passing laws that brought us where we are today. In addition, they funded their own representatives to run for offices in government.<BR/><BR/>Why must the possibility of a depression be diverted or softened? Are you saying bring it on, or that it does not have to occur? It is coming if a real change does not happen. It will come: ready or not!<BR/><BR/>I agree that people are so damn stubborn and are obsessed with spending and having to buy what they don't need. I wish I had an answer for that one. Maybe you do? But, many, many people will change their buying habits because they are in economic trouble. Many will change their spending habits. <BR/><BR/>If the economy goes into a depression, many capable and inventive people will not have the means, or be able to get the means to start up small busineses and companies. It takes capital and the elites will have that capital because they were allowed to steal it from middle America.<BR/><BR/>I don't believe the market can function well enough to let anything right happen. It needs to be directed and controlled. If it let to do its thing, it will only bring on those who abuse it.<BR/><BR/>I have been active in my community as an citizen activist, and we cannot get people to get off their butts and pull themselves away from American Idol and work on their own behalf. I am sorry to say, getting our own communities to band together and do something is a rarity.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-76015696613111677012008-11-07T09:52:00.000-08:002008-11-07T09:52:00.000-08:00let the market work its magic, people need the bit...let the market work its magic, people need the bitter medicine before they will stop overspending jerry! Question jerry, are you a union member, how long have you lived in our great city?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-79989303988425368622008-11-07T09:49:00.000-08:002008-11-07T09:49:00.000-08:00first of all jerry, why must it be softened of div...first of all jerry, why must it be softened of diverted??? Hmmmm answer me that, and FDR didn't start the "nationwide works" programs you speak, Hoover did. FDR actually berated Hoover for the very things he takes credit for during his first run for president. I would argue that we should take this lump like men and stop crying and running home to mamma. People need to act like people again and not strangers, communities need to band together and figure out some problems for themselves. I truely hope that the major corporations go bust during this downturn because of all their leveraged debt, if the government was truely out to help us they would never have let this companies get so big in the first place. Once they go the way of the dinosaurs the market monoplies that they hold will collaspe and create vast opportunities for people to start small companies and repair the middle class that the elites and their friends have been stealing from us for years. I agree that infrastructure and other public works would be good, but let the states take that burden on themselves. Everytime we have a crisis the federal government always ALWAYS uses it for a major power grab, so perhaps we should all read up on our history and rethink how things should be doneAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-3529306492719588072008-11-07T07:34:00.000-08:002008-11-07T07:34:00.000-08:00All I am saying is that we are in crisis. If FDR d...All I am saying is that we are in crisis. If FDR did not put into play a nationwide works program, poverty would have escalated even more than it had. That is a fact. We are going to see even more job losses than just the 750k we have had up to September. Unless we move into building America back up, there will be no America. The coming depression will have no chance to be diverted, or softened. So, Anonymous, what is your plan? What are your ideas for the nation to move forward? I would love to hear them. I am very open to opinions.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-29472609272550662232008-11-07T05:35:00.000-08:002008-11-07T05:35:00.000-08:00ha jerry you live on butler street!?!? I live on ...ha jerry you live on butler street!?!? I live on savanah ave in wilkensburg. You think FDR was a good president? The only good thing FDR ever did was contract polio, though i may be taking your posts the wrong way, wake up man!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-39598250680660283872008-11-07T04:59:00.000-08:002008-11-07T04:59:00.000-08:00Some video/audio links for those interested:Robert...Some video/audio links for those interested:<BR/><BR/>Robert Schiller from YALE<BR/>http://www.youtube.com/watch?v=nrSsNXLWVig<BR/><BR/>Peter Schiff on Obamanomics<BR/>http://www.youtube.com/watch?v=SSixu-wxvKI<BR/><BR/>Peter Schiff radio show 11-5-08<BR/>http://www.europac.net/media/PeterSchiff_11-05-2008.mp3<BR/><BR/>Max Keiser on Alex Jones<BR/>http://www.youtube.com/watch?v=9Ro3LOdx7C0&feature=relatedAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-59166545209532986922008-11-06T20:32:00.000-08:002008-11-06T20:32:00.000-08:00You all may be right, but can you tell me one worl...You all may be right, but can you tell me one world leader who is not what you make Obama out to be? Name me one! Canada, Italy, France, Spain, Germany, Britain, Russia, China, etc. Name me one. There are none. We have to live with what we got. So, what do we do? We push the elected officials into hearing what we have to say. Again, we pushed and Bush never listened, but nevertheless, we still pushed. We push Obama, too.<BR/><BR/>I am not really sure where you are going with your perspectives, but what we need are practical and functional and structural changes in order to get the economy moving. Remember, the economy has not stopped. It still is moving, although at a snail's pace (0.3% for September). It still is moving. We need it to move on a much more wider scale. A scale that encompasses more citizens. <BR/><BR/>I so agree that all of us in this nation need to redefine our economic priorities with a new paradigm shift toward less consumption and more conservation. I do believe that this is happening. Just as in the 60's eating a vegetarian diet was considered extremely fringe, but today, we see organics, locally grown produce, and even printer cartridge refill stations in our local grocery stores. So, what was considered weird and on the fringe has become mainstream. That was a paradigm shift. More of it will come. Just get on Youtube and see how many people are retrofitting their own gas cars to fully electric.<BR/><BR/>Everyone has an agenda! You, me, them. They have their connections and so do I, and so do you. We all have our pasts, as well. But, for the better of the nation, we get past it. For the better of our families we put aside our past and some of our connections.<BR/><BR/>Our newly elected officials and soon to be appointed ones, have a task to do. They realize that. Do you think that Obama, and the rest want their children and grandchildren to live in a more dangerous, polluted, and economically limited and deprived country? We don't for ourselves. Let us hope they don't either.<BR/><BR/>I might have positive thinking when it is needed. I am more of a cynic than anything else. I am a curmudgeon mostly, but I want to feel optimistic today, and tomorrow and next month. I will change only when shown that I have reason to change, as I did with Bush on day 2.<BR/><BR/>We can get cash and gold and store it away. We can prepare for a garden for next Spring. We can pay off our debts, and reduce our spending. We can conserve our electricity whenever possible for our own sake. We can drive less, and take care of ourselves. But of course there is more to do. We need to watch every move these officials make. We need to praise their right moves and condemn their bad ones. We are now living in a time when such action is critical.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-17456768108101266392008-11-06T20:12:00.000-08:002008-11-06T20:12:00.000-08:00Tonight on NPR, Economic writer Robert Cutner is b...Tonight on NPR, Economic writer Robert Cutner is being interviewed and asked plainly, "how will we pay off trillions of dollars in debt?"<BR/><BR/>Without pause, Cutner replies, "We don't...we just roll it over."<BR/><BR/>How is that answer acceptable? I really want to throw up. <BR/><BR/>On another note, someone should make a "Obama is paying my mortgage" t-shirt.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-87307841028486300902008-11-06T18:39:00.000-08:002008-11-06T18:39:00.000-08:00Well said Northwoods. The same agenda is in place...Well said Northwoods. The same agenda is in place. It only has a different outward appearance for those who fail to scratch the surface. A new "mouth piece" if you will.Justin_n_ILhttps://www.blogger.com/profile/02364920951342189988noreply@blogger.comtag:blogger.com,1999:blog-20377909.post-75314974580251888812008-11-06T18:32:00.000-08:002008-11-06T18:32:00.000-08:00Jerry,With all due respect, your optimism regardin...Jerry,<BR/><BR/>With all due respect, your optimism regarding Obama is almost touching. It reminds me of that "power of positive thinking" that a lot of Americans have.<BR/><BR/>They say Obama came from out of nowhere. But people aren't reading between the lines of who can take someone from nowhere and put him near the top. The foundations and personages around Obama make McCain look like he's poorly connected.<BR/><BR/>And Emmanuel is the pits. He's a pro-war, pro-Zionist guy who has pushed the Democratic party in a way that is less than useless for the working class. His father was in the Irgun, of all things. Why not just say Mossad? And Biden is the Senator from the great state of usury on credit cards.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-30436820986261775262008-11-06T18:09:00.000-08:002008-11-06T18:09:00.000-08:0010g05,Here's a good thread on the subject.Don't tr...10g05,<BR/><BR/><A HREF="http://goldismoney.info/forums/showthread.php?t=306516&highlight=gold+hiding+places" REL="nofollow">Here's</A> a good thread on the subject.<BR/><BR/>Don't trust someone else to hold it for you.<BR/><BR/>Silence is the best security.<BR/><BR/>Hiding it well in the house may be more secure than a safe.<BR/><BR/>Think it through good and hard and you will probably come to these same conclusions.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-91581582775996944412008-11-06T17:56:00.000-08:002008-11-06T17:56:00.000-08:0010g05Waterproof box buried underground.10g05<BR/><BR/>Waterproof box buried underground.Justin_n_ILhttps://www.blogger.com/profile/02364920951342189988noreply@blogger.comtag:blogger.com,1999:blog-20377909.post-4438067792075858382008-11-06T16:48:00.000-08:002008-11-06T16:48:00.000-08:00Question - I've got the gold and the cash, but the...Question - I've got the gold and the cash, but the wife doesn't want to store it in a safe in the house (afraid that will attract too much attention) - any suggestions? How secure from bank failure *are* safety deposit boxes? Are there other options out there?Jordan Greenhallhttps://www.blogger.com/profile/17390574567056047685noreply@blogger.comtag:blogger.com,1999:blog-20377909.post-71811554816737210912008-11-06T15:59:00.000-08:002008-11-06T15:59:00.000-08:00I guess anything is possible! We can all project o...I guess anything is possible! We can all project our worst fears that nothing good will come of this election. Power is a corruptible tool. I think the events that will transpire in the coming weeks will be very telling. There are many threats that are hovering above this nation and all who reside within it. This yet-to-be-president has many events that are and will be transpiring. The economic crisis is not going away. It is growing. It is becoming dangerous for the health and welfare of the country. Bush continues to rule, although Obama has new and even more power than Bush in his last remaining weeks. We will see what Obama does with his power. I have many ideas, of which I share with many others, on what he needs to do. <BR/><BR/>FDR was aligned with many powerful people. He was not a man of means, but a president. There were hundreds of wealthy "corporate royalists" of which he railed about. He made significant changes taking what could have been an even worse depression, and once in power enacted many initiatives that put people back to work and began moving the economy again. And then, of course, there was the war. But he made changes that mattered. <BR/><BR/>Obama appears to be thinking along the FDR lines of forward movement. I am willing to give him the chance.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-4159205725947832722008-11-06T10:36:00.000-08:002008-11-06T10:36:00.000-08:00What makes people think Obama is not aligned with ...What makes people think Obama is not aligned with the PTB? Look at who he wants for his chief of staff(A Clintonian). He has mingled with the CFR. Obama is more of the same. He does however have the great quality of looking different to the masses. Why do you think he stresses how you might not agree with upcoming decisions? He will pick up where Bush left off at. The puppet will do a 180.Justin_n_ILhttps://www.blogger.com/profile/02364920951342189988noreply@blogger.comtag:blogger.com,1999:blog-20377909.post-4238275500117045192008-11-06T10:28:00.000-08:002008-11-06T10:28:00.000-08:00Is an assassination of Obama Britain's next move? ...<A HREF="http://www.youtube.com/watch?v=k2GbCxCKczk" REL="nofollow"><BR/>Is an assassination of Obama Britain's next move? </A> (30 min youtube) <BR/><BR/>While I think it is highly unlikely, the Lyndon Larouche PAC team believe the possibility of this threat exists. Presidents whose policy were not aligned with the empire have been killed in the past. This time however the goal maybe to create chaos in order to establish a global order and global banking system. They also discuss the current financial crisis and the upcoming meeting on Nov 17 between 20 nations.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-34574733329823519182008-11-05T20:59:00.000-08:002008-11-05T20:59:00.000-08:00Will Obama “Change” The Bush Police State Or Expan...<A HREF="http://www.prisonplanet.com/will-obama-change-the-bush-police-state-or-expand-it.html" REL="nofollow">Will Obama “Change” The Bush Police State Or Expand It? </A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-75054344073608763152008-11-05T07:23:00.000-08:002008-11-05T07:23:00.000-08:00There is something to be said for a organized nati...There is something to be said for a organized nation-wide boycott on paying all mortgages to wake up those thieves that WE can play, too. I am serious. What would the lender/mortgage holder's do? NOTHING but panic. They don't want YOUR house. They don't want to assume your mortgage. Dean Baker says that there is no need for a homeowner bailout. He says that for those who are underwater, they should be allowed to remain in the home paying rent to the mortgagee/lender at a fair market rental price FOREVER, or until they move out, if they cannot pay the mortgage loan amount. This would force the lender to re-negotiate the loan with the borrower, forcing the lender to "eat" some of the overpriced, overvalued loan, too. I think this idea is great. It puts the responsibility in the hands of the lender and borrower. The taxpayers are out of it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-63723708814294874932008-11-05T00:26:00.000-08:002008-11-05T00:26:00.000-08:00I agree. It's time for civil disobedience. Here ...I agree. It's time for civil disobedience. Here we're a month into the bailout and the banks who are the recipients of the monies (against our will) have not done anything except flaunt that they're spending the money on bonuses, paying dividends, and salaries.<BR/><BR/>I'm had my fill. Where's my bailout?<BR/><BR/>Take my mortgage, please.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-4026149754340919732008-11-04T22:51:00.000-08:002008-11-04T22:51:00.000-08:00For those of you who are not renting~Feds May Be C...For those of you who are not renting~<BR/><BR/>Feds May Be Considering Subsidy on Troubled Mortgages<BR/>By: PAUL JACKSON<BR/>November 4, 2008<BR/>http://www.housingwire.com/2008/11/04/feds-may-be-considering-subsidy-on-troubled-mortgages/<BR/><BR/>NO MORE MORTGAGE PAYMENTS SOON - Get Ready to Default!<BR/>Posted on November 4th, 2008<BR/><BR/>Oh my. Friends, get ready to default on your mortgage…on purpose. The first chatter about the government sponsored loan modification initiative has surfaced from Paul Jackson at Housing Wire<BR/><BR/> http://mrmortgage.ml-implode.com/2008/11/04/no-more-mortgage-payments-soon-get-ready-to-default/<BR/><BR/>Stop Paying Your Mortgage Today<BR/>Seriously.<BR/><BR/>Assuming your home is worth equal or less on the market today than your outstanding mortgage balance, of course....<BR/><BR/>http://market-ticker.org/archives/636-Stop-Paying-Your-Mortgage-Today.html<BR/><BR/>-RaulAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-20377909.post-71544364753358101272008-11-04T22:42:00.001-08:002008-11-04T22:42:00.001-08:00The debt as it stands today is unpayable. Period....The debt as it stands today is unpayable. Period. It will not be repaid. We will either default through financial collapse or hyperinflate it away. All that matters now is how long until our creditors figure this out.<BR/><BR/>Today we got CHANGE. Tomorrow we will get more change.Anonymousnoreply@blogger.com