Community | October 12, 2009 | 88 comments

US facing massive economic ‘power shift’ with dollar’s downward spiral

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bansheewail
The dollar's position as the world's leading reserve currency faces increased pressure as the financial crisis allows emerging economies greater influence on the world stage, analysts said.

A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the uncertainty surrounding the US currency's future.

The dollar slumped against rivals last week in the wake of the British daily's controversial report.

"The US dollar is being hurt by the continued talk of a shift away from a dollar-centric world," said Kit Juckes, an analyst at currency traders ECU Group.

"And finally, as long as the US economy is not strong enough for any rise in interest rates to be conceivable for a long time, the dollar's underlying downtrend will remain in place," added Juckes.

The Independent, under the front-page headline "The Demise of the Dollar", reported last Tuesday that Gulf states, together with China, Russia, Japan and France, were considering replacing the dollar as the currency for oil deals.

"In the most profound financial change in recent Middle East history, Gulf Arabs are planning -- along with China, Russia, Japan and France -- to end dollar dealings for oil," wrote The Independent's Middle East correspondent Robert Fisk.
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88 comments // US facing massive economic ‘power shift’ with dollar’s downward spiral

  • Wetdog
    • 0
      Wetdog  
    • Gravity Man---you probably won't understand this, but here is my explaination.

      When I joined the service and went to war to defend the United States, I swore an oath to defend America against all enemies, foreign and domestic. I didn't swear to do that for a little while and forget all about it. I swore to defend America. Always.

      Depending on petroleum is an enemy of America. Just as surely as anyone trying to shoot or bomb us. I swore to defend America against her enemies.

      I am at war with petroleum because it is an enemy of the people of the United States. My brothers and I have fought against enemies who shot bullets, missles and bombs at us. Some of my brothers have died. Some have been maimed for life. I owe it to my brothers to continue to fight against the enemies of America.

      I survived bullets. The war I am fighting now uses words and ideas instead of bullets. I will survive this too. People can call me names, people can laugh at me, people can scream at me----but no one can stop me. I will continue to stand up and tell people what we need to do to save America no matter what. If anyone wants to join me, I welcome them. If no one will join me, then I will fight on alone.

      I will never surrender. If I surrender, it will mean the end of the United States. I have sworn not to let that happen.

    • 2 years ago
  • Gravity_Man
    • 0
      Gravity_Man  
    • Wetdog:

      I have never questioned your motives to improve the US. President Bush was working really hard against you... with his constant preaching against isolationism and protectionism to keep the Halliburton money flowing into his & Cheney's pockets. Meantime while they were grabbing all the loot they could the Chinese were painting Lead paint on toys and likely including other garbage in the packaging being shipped here.

      I hope you and your brothers didn't do all that for them.

      The "key" to which engine systems should get used is implementation time. You're suggesting lots of modifications and that would eat up the clock. Then there's another consideration of how complicated the system is because in one car crash a complicated (many-faceted) system might cost half the cost of a new car to repair.

      Which means the insurance adjusters would be marking crashed cars as a total loss instead of a fixer-keeper, which would cause many extra vehicles to be filling the nation's landfills... OR being sent to the car crushers and systems like they have down here at Montvale Virginia where the machine chops em up to get the metals.

      Chopping up cars represents a very large -and excessive- carbon footprint that would partially defeat the savings your systems would present. Wetdog, you have to look at the total picture. It doesn't make me at all happy to tell you your system will likely not win the "race".

      I have an engine that's really designed more like a turbocharger. It combines compressed liquid air under great pressure supplied by the swinging inertia weight of the moving vehicle, so my system makes its own fuel as it drives down the highway, and yet T. Boone Pickens is even going to knock my system to the side along with YOURS.

      Them's just the facts. My engine brings superheated steam mist -H2O- into the cylinder first which prevents the supercold air from freezing the piston to the inside wall of the cylinder PLUS the steam acts as a powerful CATALYST that makes the air do much more than just expand it makes the air EXPLODE with a power that goes even beyond methane.

      With my system no one ever has to pull up to a fuel pump again. My engine the air and water both circulate around each in its own cycle except for when they meet in the cylinder, then they separate into their own circle again, the now-cold water cooling the compressors and then on to the engine and a heated conduit to be made into steam all over again.

      My system has absolutely no exhaust, so it has much more Power from the weight reduction => no heavy exhaust, tailpipes, no poisonous catalytic converter metals entering the atmosphere and later the landfills. My system would be totally self-adjusting of the steam temperature so that it never needs a cooling system (no poisonous antifreeze).

      And Pickens takes the game ball home.
      My tornado-level engine stays holstered.

      However, that being said the farms do over-produce methane and methane is a greenhouse gas we have too much of, so there should be by all rights a place for your ideas, but you see, Mr. Pickens has gas on the brain and Obama is surrounded and walled in by Energy Czar Chu As a military man you should be able to realize when you have been out-maneuvered by the industrialist, which is what usually happens in the US..

      http://www.newpath4.com/roadmaptoanofuelrequiredtype1civilizationzeropollutionep...

    • 2 years ago
  • TasteHi
    • 0
      TasteHi  
    • Now Saudi Arabia wants to CHARGE us fees because we STOPPED consuming so much oil from them,.

      GO FIGURE.

      The war is coming to us anyway. I have a feeling that 9/11 was a deal (over oil) that went bad. It was just a warning and Bush didn't seem very surprised when he heard the news. He seemed pissed, so it might have been a threat from the start.

    • 2 years ago
  • Wetdog
    • 0
      Wetdog  
    • TasteHi:

      I think so too---oil and drugs(Afghanistan).

      I don't see any reason for us not to replace oil right now.

      We can start by mandating that all new vehicles sold in the US be bi-fuel(liquid and methane) and either flex fuel(so they can use ethanol) or diesel.

      We can do that right now, with no new technology that has not been in use many years, and will not involve large shifts in manufacturing or supply.

      And, in the long run, as consumers, it will MORE than pay for itself and save us a ton of $$$ in the long run. Natural gas is much cheaper to use per BTU than either petroleum or electricity.

    • 2 years ago
  • Gravity_Man
    • 0
      Gravity_Man  
    • TasteHi:

      You sell a good-sounding package Wetdog, all that methane from farms getting used as fuel. I'm good with that. But you keep piling on more fuels and I don't understand why you do that because methane is gobs of power, and plenty of hog farms to supply it.

      So why do you add ethanol for? Food crops are needed for FOOD. If you want the energy from the food crops why not open a nationwide chain of fat surgery clinics and harvest the fat off fat people's waistlines? Are you unaware of the fact that HUMAN FAT is the highest btu fat of any animal on Earth?

      Let people have the food then make your biodiesel from harvested human fat. If you can't agree to that you're telling on yourself. Someone's paying you a check to make these posts. In the meantime when your 15 fuel dang blasted vehicle is in a CAR CRASH how much will it cost to repair all those busted systems you keep plugging?

      This is where my enginewow.htm system walks all over yours LOWER REPAIR COSTS, and T. Boone Pickens is right behind although I personally would have difficulty driving a tractor-trailer knowing I was sitting perched over two 500 gallons tanks of NATURAL GAS. You want to build a spacecraft for the highways and make more mechanic jobs and body repair shop jobs and insurance adjuster jobs, not just engines, which means your scrapping blood on the floor trying to hold mankind back from entering into being a TYPE 1 CIVILIZATION.

    • 2 years ago
  • Ragan
    • 0
      Ragan  
    • To those of you who know about Goldman Sachs and JP Morgan should expect that nothing is going to change. First The presidency and the political system in Washington is a multi-trillion dollar scam that goes back to before the Clinton regime although he was an integral part of the failure too. Robert Rubin Clintons Secretary of the Treasury was formerly employed in a high position at Goldman Sachs. After Clinton he returned. Summers and Geitner were his scholars and right before the inauguration, Robert Rubin recommended Summers and Geitner. You know that even the Mafia likes to have inside men and the is basicly the same with the Obama administration. Brzezinski is also an inside man. Obama is a puppet and the big Bankers couldn' care less what Obama does because they are running the show.

    • 2 years ago
  • RFIDemocracy
    • 0
      RFIDemocracy  
    • Ragan:

      You'll get no argument from me. I'll add that the media is falling all over themselves to help to preserve the status quo, being the propaganda division of the corporations of which they are all subsidiaries.
      Why would they kill the goose that laid the golden egg?

    • 2 years ago
  • TheOuroborus
    • 0
      TheOuroborus  
    • And still no new rules for Wall Street or any real Health Bill on the table. Giant bonuses for traders and foreclosures for medical bills. We're sunk.

      More $ 4 War = None 4 The Poor

    • 2 years ago
  • JollyGoodFelon
  • J_Jammer
  • lu7cky
  • JollyGoodFelon
  • J_Jammer
  • JollyGoodFelon
    • 0
      JollyGoodFelon  
    • Americans (the USA ones) have become so stupid, this is just what the doctor ordered. You can blame those ones who wear the neckties as a general rule. They will also have college credentials and they make false claims that "they know what they are doing". Time for them to fall hard. I hope their money becomes worthless.

    • 2 years ago
  • J_Jammer
  • JollyGoodFelon
    • 0
      JollyGoodFelon  
    • JollyGoodFelon:

      Jammer.... Where is pride in my comment? I am ashamed of my fellow americans. I have never "subscribed" to the bullshit they hand out. And what do you really know about the rest of the world? You watch al-jazeera or do you just believe what fox , cbs, nbc, abc, msnbc, cnn, bbc tells you they talk about "over there"?

      The USA population has got to be the stupidest specimens on the planet. What helps keep this going is that they think they are so fricking "informed".

    • 2 years ago
  • J_Jammer
  • JollyGoodFelon
    • 0
      JollyGoodFelon  
    • JollyGoodFelon:

      Ya know something Jammer? Sometimes there is one guy who is right and the whole rest of the world seems wrong. I would think that guy has every right to be proud.

      You sound like a mother... "I guess you think you are right and the whole wide world is wrong"..... Yeah mom that's exactly what I think. STILL.

    • 2 years ago
  • J_Jammer
  • Wetdog
    • 0
      Wetdog  
    • Gravity_Man-------"......btw, T. Boone Pickens today suggested a Clunker program to replace every diesel tractor in American with a new truck burning natural gas."-----------

      Diesel engines do not need to be replaced.

      Diesel engines can run on biofuels with no modiications. Diesel engines also be made or modified to run either liquid fuel or natural gas. Bi-fuel engines have been in use in Europe for years---especially in areas where extreme cold makes liquid fuels gel and diesels hard to start, simply start up and run on natural gas(since it is already a gas-cold weather is no problem), then switch to liquid fuel after the engine is warm if you need to.

      Diesel engines get about the same efficiency as gasoline hybrids, over 40%. However, diesels get their efficiency across the board, both stop and go and highway driving. Hybrids get most of their efficiency in stop and go city driving---they have about the same efficiency on the highway as regular gasoline vehicles.

      With a comparative octane rating of 120, natural gas can make full use of the high compression ratio that makes diesel engines more efficient than gasoline engines.

      Natural gas is much cheaper to use than either petroleum or electricity. No one uses electricity to heat their home or water heater if gas is available.

      Bi-fuel engines are completely flexible, and present no supply problems---simply fill up with whatever is available, liquid fuel or natural gas.

      Biofuels can be mixed with petroleum in a wide range of proportions. We can use as much, or as little petroleum as we want. With a bi-fuel diesel engine, you could drive as far as you'd ever want and not use a single drop of petroleum.

      A 6% mixture of biomethane in fossil methane will produce greenhouse nuetral emissions.

    • 2 years ago
  • Gravity_Man
    • 0
      Gravity_Man  
    • Wetdog:

      That's all true Wetdog but you're missing a lot in your answers. Yes, all that modification COULD BE DONE but look at the cost of individual modifications of every type of engine. I'm no friend of T. Boone Pickens because his answers keep getting in the way of mine. He insists we have to have a "bridge system" to get us from where we are today to where we want to be in the future.

      My engines are the future no need for his bridge technologies nor your expensive modifications. However, his answer grasps and supplies a romantic solution the Public has already been sold on => the Clunker kill everything and start over solution. The synaptic pathways have been scored (engraved) into his answer being the answer.

      He did a checkmate on us of all checkmates in history. Your solutions and mine don't supply his romantic psychology application. His does. You're toast and so am I. T. Boone owns the court and it's also his ball. The old dog beats the pants off the wet dog. He's smarter. He's a marketing genius, we aren't.

      End of Story. Game Ball Pickens.

      Still don't believe me eh? hahaha OK, here's why. His implementation is less painful, faster, less costly, AND romantic. You may as well be struggling in the La Brea tar pits. I applaud your tenacity Wetdog but the game whistle blows soon and we lost => Pickens already had a private conference with the Obama.

      Time to pack it up and hit the showers. We've been royally trounced. Old dog walked over two younger dogs.

      We would have more success against the Marlboro Man in 1957.

    • 2 years ago
  • Wetdog
    • 0
      Wetdog  
    • One thing we can do. We are importing over 70% of our petroleum energy. This means that we pay out $$$ for a raw material that we are just going to burn.

      We are burning dollars.

      If we make biofuels, we can replace petroleum.

      For gallon of biofuel that we make and use here in the US, we provide jobs to American workers who live and spend their wages here. Instead of shoveling $$$ down a giant sinkhole.

      Biofuels can do anything that petroleum can.

      Petroleum has gotten us into the last 3 wars we have been in, and the cost has been enormous in both dollars and lives. Two of these wars are still going on.

      Petroleum causes massive environmental damage, both here and world wide. It also causes massive economic damage by draining wealth out of the US economy. It causes social and political damage as well.

      Isn't it about time that we got rid of petroleum?

      It can be done with what we have right now.

    • 2 years ago
  • Gravity_Man
    • 0
      Gravity_Man  
    • Wetdog:

      Exactly. replace petroleum 100%. But when you replace petroleum and keep combustion engines you're still using inefficient combustion engines. You've made them more efficient by using a different fuel but the engine design is still inefficient. in other words, by changing to a better fuel you have only made an artificial improvement.

      Combustion engines produce too much Heat, and the reason they produce too much Heat is because Heat produced that isn't used is evidence of engine inefficiency.

      Now if you was to suggest changing fuel PLUS using the Pantone GEET engine process then you'd have a use for the excess Heat and no one would oppose you... because there wouldn't be any unused energy off your engine system. You would in fact have a nearly 100% engine efficiency.

      Mine goes much higher but I realize now that's too difficult a concept for a biphenyl poisoned American to deal with right now. Marry your fuel with the Pantone engine.

      btw, T. Boone Pickens today suggested a Clunker program to replace every diesel tractor in American with a new truck burning natural gas. It is to reduce the foreign oil imports by 50% in the near future I heard.

    • 2 years ago
  • RFIDemocracy
  • VideoArtistryNC
    • 0
      VideoArtistryNC  
    • Actually, it's no surprise that the dollar is collapsing. The value of the dollar has been in decline since the establishment of the Federal Reserve. Every time a new dollar is printed and fed into the bank system, the value of the dollars already in circulation lose value. Because money is only printed when the US government borrows money from the Federal Reserve, then every dollar printed represents debt. Hence, as the volume of our currency expands so does our national debt. Now it seems, our credit is not so good anymore. Get ready, America, to live within our means again.

    • 2 years ago
  • Ragan
    • 0
      Ragan  
    • I just goes to show you just how the Federal Reserve Bank and its world leaders can make or break a nation or the entire world if and when they have a notion. Since the Federal Reserve bank does not have to answer to us but rather and very likely to Brussels, Belgium. the secret world financial leaders are pulling the strings. OOPS I am sorry I mentioned "secret" now I suppose I am a conspiracy theorist now. Oh well it doesn't matter all hell could breakout and every one would be home playing video games and testing or gabbing on the cell phones. The world is going to hell anyway.

    • 2 years ago
  • Gravity_Man
  • Allorno1
  • seeker561
    • 0
      seeker561  
    • "This seems to reflect that the world has reversed its reliance on the US and its dollar and swung over to the more reliable Euro."

      The " more reliable Euro," is the currency of all that socialized medicine goin' on. Imagine that.

    • 2 years ago
  • RFIDemocracy
  • Nettle
  • Gravity_Man
  • TasteHi
    • 0
      TasteHi  
    • I think this would be a great way to get the US to stop relyng on oil period. If we no longer have a responsibility to it then we can start producing a more viable renewable source for energy. Solar Roads are a nice start too.

    • 2 years ago
  • titan50
  • Gravity_Man
    • 0
      Gravity_Man  
    • TasteHi:

      You could have your solar car very easily. You need 5 big solar panels that opens up, unfolds to drop on the hood, trunk and both sides, recharging the batteries while you're inside shopping or other wise parked.

      I fail to see the problem here. Instead of folding out have them slide out and lower down, easier to put back together when you come back. Folding would be a real pain. Go! Make plenty of brand new Ameros! www.inventnow.org is waiting for you right now.

    • 2 years ago
  • vesher
  • Chod77
    • 0
      Chod77  
    • The depreciation of the dollar isn't necessarily a bad thing. If the dollar depreciates then more countries will be willing to buy and import our products. They will be able to get more "bang for their buck" so to speak. Exports will rise and production will increase. This means more jobs for the American people.

    • 2 years ago
  • carmalite
  • RFIDemocracy
  • Chod77
    • 0
      Chod77  
    • Chod77:

      Woah woah woah, I didn't mean to say that it's flipping fantastic that we are experiencing some inflation. I only meant to give a more optimistic view on the issue. Which is something I rarely do.

    • 2 years ago
  • jaystyx
    • 0
      jaystyx  
    • None of this is set in stone people. National governments do not undertake such drastic actions as a reaction to current events. Like neocongo said above, this would take years to implement and is only in its very preliminary stages right now. If the dollar continues drop due to accumulation of government debt and trade deficits for the next few years, than we might have something to worry about.

      I have confidence in a better outcome because the era of Reaganism came to an abrupt end with the presidency of George W Bush. Tax and spend Republicans are about as popular as the Oakland Raiders right now. The Democratic party is trying to implement a number of policies that should turn our monetary policy around. These policies include increasing taxes on the wealthiest Americans, letting the Bush tax cuts expire, re implementing pay go and decreasing long term spending by getting out of Iraq. Many of these pollicies were in effect during the Clinton years and contributed to government surpluses. I am not sure just how effective Obama will be at decreasing debt accumulated under Bush. I can however draw on Clinton’s success in removing the debt of the Reagan/Bush presidencies.

    • 2 years ago
  • RFIDemocracy
    • 0
      RFIDemocracy  
    • jaystyx:

      Perhaps not but....

      "Chinese financial sources believe President Barack Obama is too busy fixing the US economy to concentrate on the extraordinary implications of the transition from the dollar in nine years' time. The current deadline for the currency transition is 2018."

      It seems like China is pretty determined and they have the economic clout in the world today, while the US does not.

    • 2 years ago
  • jaystyx
    • 0
      jaystyx  
    • jaystyx:

      You honestly think that a totalitarian police state has more clout than the US? I know that US credibility took a hit under Bush. However, you have to be out of your mind if you believe China has more international credibility.

    • 2 years ago
  • RFIDemocracy
    • 0
      RFIDemocracy  
    • jaystyx:

      No. I didn't say anything about credibility. I said 'economic clout' and 'determined', which is irrefutable. The numbers are what they are.

      US
      2007 Q1-1.40 Q2-1.90 Q3-2.70 Q4-2.50 AVERAGE-2.13

      2008 Q1-2.00 Q2-1.60 Q3-0.00 Q4-1.90 AVERAGE-0.43

      China

      2007
      Q1-13.00 Q2-12.60 Q3-11.50 Q4-11.20
      AVERAGE-12.08
      2008 Q1-10.60 Q2-10.10 Q3-9.00 Q4 6.80 AVERAGE-9.13

    • 2 years ago
  • jaystyx
    • 0
      jaystyx  
    • jaystyx:

      China is indeed going to be a long term problem for the US if their economic growth continues at the current rate. China is however somewhat dependant on the US for their economic growth.

      1) US companies account for a significant percentage Chinese manufacturing.
      2) China is heavily dependent on the US importing their products.

      2018 is a long time away and the US citizens will eventually wake up to the destructive relationship our government and corporations have with China. If China begins to pose a significant threat to US business, we have the power to put a halt to their economic growth. The government can impose restrictions on how much outsourcing can be done in China. They may also impose regulations over domestic companies like Wal Mart that have become a market for cheep Chinese crap.

      Remember that the US is still the big dog in this global economy. When our citizens finally become outraged enough to make our government act, China’s economic growth will go back down to Earth.

    • 2 years ago
  • jaystyx
    • 0
      jaystyx  
    • jaystyx:

      Corporate America periodically follows trends that seem beneficial in the short term, but prove to be unsustainable in the long term. Exporting jobs to China and buying their cheaply mad crap is just that. It seems beneficial to corporations bottom lines, but what they are in fact doing is decreasing the wealth of their primary customers in the United States. Once Americans wake up to the fact that China is the number one contributor to our trade deficit and is in fact reducing our expandable income, something will be done.

    • 2 years ago
  • RFIDemocracy
    • 0
      RFIDemocracy  
    • jaystyx:

      'China is however somewhat dependant on the US for their economic growth.'
      I'd agree. In fact more than just somewhat.
      Which is why China is prepared to prop up the US economy to a point.
      'Corporate America periodically follows trends that seem beneficial in the short term, but prove to be unsustainable in the long term.'
      Damn right. Greed, instant gratification, profits at the expense of a stable society. Nothing stands in their way. I'd only add argue that it's not merely periodic but an historic pattern.
      And the benefits seldom are realized by the average citizen, even less so now than any other time in the past seventy or so years.

    • 2 years ago
  • RFIDemocracy
    • 0
      RFIDemocracy  
    • Image
    • From the original article
      The Independent: The demise of the dollar

      "These plans will change the face of international financial transactions," one Chinese banker said. "America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate."
      Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. Bankers remember, of course, what happened to the last Middle East oil producer to sell its oil in euros rather than dollars. A few months after Saddam Hussein trumpeted his decision, the Americans and British invaded Iraq.

      ***

      And Washington is beating the drums for the next war...

    • 2 years ago
  • telcod
    • 0
      telcod  
    • Well folks, still looking around for those Roman denarii and aureii. As the Empire of Roman went, so goes the American Empire. No more wasteland of the free and a country of "bread and circuses." Time to relearn how to work for a living, instead of trying to enslave the world. The only thing we do here is service debt and run insurance scams. Oh, we still manufacture dandy weapons and no one makes better cigarettes. What did you all expect? We were so bent on selling anti-communism that we subverted democracy in Central and South America so our corporations could run a muck. Now we have nothing but enemies at our gates. This is well deserved, I might add. But you say to yourself, "That was not my doing" or "I personally meant no harm" or "I had no idea" Well, you passively signed on in a manner that would sham God, Himself. Now your check is going to be cashed. Good luck with that.

    • 2 years ago
  • DreSandoval
    • 0
      DreSandoval  
    • shit i though the Amero was already in production in China...I thought the Amero would alrdy be here last Jan/Feb, when the markert was crashing...maybe next year...

    • 2 years ago
  • contrapuntist
    • 0
      contrapuntist  
    • I am not surprised countries around the world are considering moving away from the dollar. Considering the US banking and economic failures almost brought down the entire global economy, why wouldn't other countries look into something different?

      As @neocongo points out, we will have to wait and see what happens. Only time will tell. A lot has to happen for a shift to really take place.

    • 2 years ago
  • Gravity_Man
  • neocongo
    • 0
      neocongo  
    • It's unfortunate this article, and the article it references are stating that this is going to happen, when if one reads the original story carefully, it can be seen that the transfer of the dollar to other currencies for the purposes of trading oil is an idea only under discussion. Should these oil producing countries decide to go through with the idea, its implementation will take an estimated seven years.

      The implementation of this currency change would have significant effects on this US economy. But shall we have that conversation if it actually happens? Seven years is a long time, and really, don't we have enough to deal with that IS happening right now?

    • 2 years ago
  • bansheewail
  • s_peak
    • 0
      s_peak  
    • neocongo:

      Assuming, of course, that we even have 7 years left of oil to play with... which I (personally) am not confident that we do. Our burn rate is still increasing, too...

      The entire paradigm is broken... and talk is cheap.

    • 2 years ago
  • bansheewail
    • 0
      bansheewail  
    • The dollar is the new Peso. Face it. The massive "borrow and spend" agenda of the Bush "neo-liberal" administration got us here. Deregulating our financial markets got us here. Pre-emptive and very expensive wars with no results or aquistion of resources got us here. So, I'll pull the stick out of my ass and take a deep breath when you pull your head out of your ass, wipe the shit from your eyes and read Shock Doctrine and anything by Milton Freidman starting in the 50's.

    • 2 years ago
  • J_Jammer
  • RFIDemocracy
    • 0
      RFIDemocracy  
    • bansheewail:

      A drop in the bucket. And you can subtract $0.7 trillion from that figure which Bush signed off on as he left DC with his matching luggage and his al Qaeda decoder ring. No strings attached, I should add.

    • 2 years ago
  • plaidninja
    • 0
      plaidninja  
    • I'd prefer to keep the church out of my government.

      Maybe I'd consider it if we were taking about the Pastafarian Church. Having the FSM on our currency would be kinda cool.

    • 2 years ago
  • Gravity_Man
  • plaidninja
    • 0
      plaidninja  
    • plaidninja:

      I'd be a terrible religious leader. I'd refuse to be worshipped, though if people wanted to collect money for me I'd be ok with that. Also my only commandments would be try to treat people with decency & respect, and keep douchebaggery to a minimum.

      And bring Firefly back on the air.

    • 2 years ago
  • Gravity_Man
  • plaidninja
  • Gravity_Man
    • 0
      Gravity_Man  
    • plaidninja:

      You've already mentioned your desire for your pew sitter's money... so many times you've driven your own flock into the hills. It's all down the drain now buddy. They spook to easy. You're going to now have to go FIND A JOB. Sorry.

      NEXT APPLICANT! You already have experience? Great. Sign right here Mr. Swaggart.

    • 2 years ago
  • hunzedog
  • a_d_4_m
    • 0
      a_d_4_m  
    • Why not ask the cops what happened to our money?? Do they really need BRAND NEW CARS every week!!? Not cheap cars, Chargers and even Segways, not to mention that each cop rides around for a complete shift, burning at least $50 in gas, running his AC while I have to roll my windows down because I can't personally afford a cool breeze. And for what?? To be pirates, to abuse power and steal from the poor. What a sad country.

    • 2 years ago
  • hunzedog
  • kjs83
  • Gravity_Man
    • 0
      Gravity_Man  
    • The Catholic Church is still on the Gold Standard. If they can do it and produce nothing more than Yak~Yak (and a few new saint appointments yesterday) then the US should be able to do it too. We need more than a renewed Work Ethic we need to work smarter too. A merger with the Church might be better than being a satellite of China. China is being wracked with earthquakes but the Church is everywhere, and plenty of gold. Join with V-ger.

    • 2 years ago
  • bailey78
    • 0
      bailey78  
    • Gravity_Man:

      I don't know what kind of drugs your doing. but you need to stop because your brain is getting soft. Never go with the Catholic Church. That is like crawling in bed with the devil himself. Keep the Church out of my life. I like the way things are going just give it time to work. Kind of like creeper bud just give it a bit longer to work.

    • 2 years ago
  • Gravity_Man
  • RFIDemocracy
  • Pawper
    • 0
      Pawper  
    • Gravity_Man:

      Saying you want the Catholic church in the government is basically saying you want a theocratic, totalitarian government. We have separation of church and state for a reason. Let people freely develop and live by their own codes of conduct, belief systems and world views.

    • 2 years ago
  • Gravity_Man
    • 0
      Gravity_Man  
    • Gravity_Man:

      No one here said "wants the Church". I said the Church has gold and worldwide land holdings. Ever hear of the American Indians? "You can't always get what you want" was a great song but in fact, the government does get whatever it wants. Always.

      Governments do what they need to do, whether they call it for "National Security" or World Economic Security or whatever they want to call it. And this thing of being Tax Exempt hahaha shoots your separation of church and state full of holes ANYWAY. There is no separation where tax paying is concerned because the church physically resides on government property, because ultimately the gov owns everything, the "gov" being the citizens.

      So when the majority of citizens decides it has had its fill of seeing any church all draped down in gold and jewel studded clothing prancing around on their TV sets while their children eat hot dogs and crackers you'll see some changes happen very fast. Natural change, change you will believe in.

      When the man realizes he is the victim of an apples~oranges scam. Separation of church from state is a totally different matter apart from paying taxes on personal property. It's even in the Bible! Jesus said Pay back to Caesar what it Caesar's. Caesar prints the money, Caesar takes the money, preferably voluntary but if not there's other ways.

      Churches should pay property taxes. hahahaha In fact, the more you think about it the more sense it makes, because churches not paying taxes forces non-believers to carry their load. That's against the Law. It's against the Bible, where it says each should carry his own load, if he doesn't work neither let him eat.

      I'm laughing so much because the churches have snowed people for so long. They have run a shell game and won against the best shell gamer in the world => the U.S. Government. Wipeout. When your head stops being spun around and you stop long enough to actually FOCUS you have to accept that believers owe taxes on property just like non-churchgoers.

      To give tax exemption to churches is favoritism... and borders on paying people -and the Pope- for being religious. Is that right? Taxing atheists to cover taxes the churches escape paying just because they believe in the Bible? Whew. Those days are gone baby.

    • 2 years ago
  • Gravity_Man
    • 0
      Gravity_Man  
    • Gravity_Man:

      All of which the above means that this recent "drive" to take the "excess monies" of "the Rich" is totally mis-directed. The Rich worked for their money, they earned their money, and their value is above money. They are paid for supplying jobs, so they are paid for more than their Work they're paid for being Smart.

      On the other side of the coin when we look at the churches -specifically the Catholic Church- they possess and control money far above {ugh} greedy CEO's and they have not created near that many jobs. They just "Believe" and the money pours in, the antimatter of Jesus Christ himself.

      Money pours in and never pours out, except of course charities they choose, but the reason they can be all gushy and giving donators to charities is because they represent billions of tax-exempt dollars held completely out of the nation's Economy. I would love to give to charities, but since all that money is kept in a separate place out of the Economy we out here live like paupers unable to give, and likewise also unable to feel that good feeling inside that comes from Giving to others.

      The churches take that away from us all, so that the only way we have left to enjoy that good feeling is to JOIN A CHURCH. It's a damn feedback loop contrary to the Bible, contrary to Jesus and his life's teachings. Churches steal across the board from everybody, whether you're a churchgoer or not, so what it becomes is coercion to join them if we want to be Giving People.

      I would like the Church to pay taxes and their members out of my pockets. If EVERYBODY paid taxes -including these special people wearing special collars talking in special tones to make sure everybody knows they're special- taxes could be cut in half. That's why so many outside the church have been reduced to beggar status needing handouts and soup lines, needing grant help to pay their children's college, needing help to pay for healthcare, needing handouts to pay for prescription drugs.

    • 2 years ago
  • Ragan
    • 0
      Ragan  
    • Americans have lived under the blanket of Super power. This super power has all but been overpowered by the Euro Dollar. This seems to reflect that the world has reversed its reliance on the US and its dollar and swung over to the more reliable Euro. The Lords of finance is in charge of both and has the power to swing either way. The war in Afghanistan is not going well and Clinton has shown outright ignorance and guts to ask Russia to help in Iran when in fact US did everything possible to prevent Russia from getting ahead in Afghanistan. It takes guts to show intelligence as ignorance. Compare Herbert Hoovers first year in office and the fact he was faced with the spiraling dollar just as Obama is faced with today. It is possible Obama will end up as a first term President. Throughout American history the elections have just kept switching back and forth and there is never any change for the better. It always the same. We are still facing and trying to find solutions found during the 1920's and 1930's. AS long as there is this two party system and the two parties are just like any two crime families. The two parties are embedded in America politics and there never will be any change, They will be fighting and arguing and holding the public at bay for the next thousand years or perhaps less than ten years if the dollar doesn't improve. The only savior for the USA is for the dollar to skyrocket in value even if temporilary long enough for china and Dubai to cash in their chips and bonds, And thus the end of America.

    • 2 years ago
  • Mark701
    • 0
      Mark701  
    • When this happens, and it will, Americas position as the economic powerhouse of the world will end. This is both bad and good. It's bad in the sense that the economic hegemony we've experienced since the end of WW II will end (you can thank your Republican congressmen and presidents for that). It is good in the sense that we will have to actually produce something to stay economically viable. No more running massive debts, no more selling FFI's (Fluffy Financial Instruments) as a means of generating wealth, we'll actually have to make "stuff" to sell instead of paper which will revive the manufacturing base.

    • 2 years ago
  • carmalite
    • 0
      carmalite  
    • Mark701:

      We have been coasting downhill since NAFTA. and the insane deregulation that started with St. Ronald.
      It is thanks to the Republicans except for Clinton not vetoing NAFTA.
      This ship is not coming up again, at least in my lifetime.

    • 2 years ago
  • bansheewail
  • larrysnotes
  • tommytripper
    • 0
      tommytripper  
    • bansheewail:

      you are daft....

      sorry but i want nothing to do with the NON constitutional US...

      you people have allowed the greatest nation to grace the face of this planet to be taken over by a bunch of self centered children who would gleefully crown themselves kings and queens and let the nation burn... NO wait they are letting the nation burn... if you can not see the firesale coming you are still asleep.

    • 2 years ago
  • Darevalo
  • jaystyx
  • J_Jammer
    • 0
      J_Jammer [removed]  
    • bansheewail:

      Why not? Euro isn't good because of one country alone, but because of all it's lifted the currency.

      Russia and China want to change because they want control. It has nothing to do with the dollar falling as they pretend. Even though China has a bit of control on America...they apparently want their name out there like Wal-mart or Disney. Why not make Firefly's future come true?

      I Will only go to Mexico or Canada. There's enough places to visit so that I don't have to spend an arm and a leg just because talk about the dollar makes it worth less.

    • 2 years ago
  • Gravity_Man
    • 0
      Gravity_Man  
    • bansheewail:

      It has been PROVEN the whole world can fall together, so isn't it a given the whole world can also rise together once it's on the same currency? Imagine the beauty of traveling and doing business without any more necessity for constantly-changing {ugh} Exchange Rates conversions.

      As far as the dollar losing value I don't have any so it doesn't matter. T. Boone Pickens just today presented a plan to President Obama to do a clunker program on all the nation's diesel trucks, replacing them with all new vehicles fueled by natural gas.

      That wipes away 50% of U.S. dependence on foreign oil in one gigantic swipe of the new President's pen. With the electric hybrids PLUS all the new cars coming off the assembly line that will be getting 100 miles per gallon we're looking at a 85% reduction in foreign oil expenditures in the next 1-2 years.

      Cleaner cities from less air pollution = less sick people = less healthcare costs + = reduction in EPA expenditures + get the EPA off the Detroit automakers backs for failing to meet emission standards.

    • 2 years ago
  • J_Jammer
  • RFIDemocracy
  • J_Jammer
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