Posted on 10/25/2007 8:12:27 PM PDT by Philistone
To read the MSM headlines (which I try not to) the falling dollar is the end of the world. Maybe Wall Street should get a Noble Prize for their work in "Global Dollar Cooling". But seriously, what are the effects of a weak dollar?
1) Increased exports. Last month's exports were among the highest on record. Trade deficit? What trade deficit? Boeing, Caterpiller, Microsoft, Apple, etc. all with surges in foreign export sales.
2) Outsourcing? What outsourcing? All of the sudden it becomes cheaper to employ an American technician than one from Bangalore.
3) Cost of living? (I love this part!) Since China has pegged the Yuan to the Dollar, everything we get from China costs exactly the same! Maybe this will convince them to unlink the Yuan. Then we'll REALLY see who's the best producer.
4) Buhh... buhh... buhh... but foreigners will stop buying American Treasuries! What? In order to buy Russian ones? Chinese ones? Venezualian ones? Give me a break.
A weak Dollar equals: more exports, more jobs, more tourists (spending money) and the same or higher standard of living.
Bring it on!
So not only do you believe in the fallacy that "the private sector has hijacked our economy," you also believe economics is a zero-sum game.
Congress left before voting on such an important piece of legislation? Would the Act have been voted down if everyone was there?
Later, Wilson remorsefully replied, referring to the FED, “I have unwittingly ruined my country”.
That old urban legend, LOL!
To this day. the Fed has yet to be auditted.
That's a lie.
But you posted a list of foreign stock holders.
How do you know they get billions? Maybe they get zero.
It is a lie? Want to prove to me that they have been auditted?
Dang, you got me. And I mispelled it again in the next post! Waste, waste, waste, waste ...
I hear rose colored glasses are getting more expensive : )
If I hadn’t spent so much time in Asia watching where our jobs are going to, I wouldn’t be nearly as aware of it.
Have that list of stockholders ever been auditted?
That’s probably a fair assessment. Kind of funny too, cause I’d put this area up as likely my weakest area, but I’m always interested in a different view. Too many people try to change others minds. It’s better to let them realize it themselves. Sort of like the links I put up. If someone actually visits them, and reviews the material, I can’t see how they could support it.
I like how you handled him :)
Do you think gumballs are cheaper in Asia? Just curious.
“and are now teaching propaganda.”
BINGO, we have a winner!!! I used to think a lot of this was not conservative, but just plain ole’ CFS. I found out I was in error. It’s not so common. The propaganda has and is continuing to be overwhelming!
Okay.
Are the Federal Reserve System and Reserve Banks ever audited?
The Board of Governors, the Federal Reserve Banks, and the Federal Reserve System as a whole are all subject to several levels of audit and review. Under the Federal Banking Agency Audit Act (enacted in 1978 as Public Law 95-320), which authorizes the Comptroller General of the United States to audit the Federal Reserve System, the Government Accountability Office (GAO) has conducted numerous reviews of Federal Reserve activities. In addition, the Board's Office of Inspector General (OIG) audits and investigates Board programs and operations as well as those Board functions delegated to the Reserve Banks. Completed and active GAO reviews and completed OIG audits, reviews, and assessments are listed in the Board’s Annual Report (before 2002, the reviews were listed in the Board's Annual Report: Budget Review).
The Board's financial statements, and its compliance with laws and regulations affecting those statements, are audited annually by an outside auditor retained by the OIG. The financial statements of the Reserve Banks are also audited annually by an independent outside auditor. In addition, the Reserve Banks are subject to annual examination by the Board. The Board's financial statements and the combined financial statements for the Reserve Banks are published in the Board's Annual Report
That was easy.
That list is a list of BANKS! Have those banks ever been held accountable? Have they been under audit? By the people of the USA?..most namely congress?
“By the way, isn’t it about time for Vicente Fox to be on the show “America’s most Wanted” ??”
Envisioning Baghdad Bob...”There has been no meetings in Quebec, do not believe them. It is lies, all of them it’s lying. Like a snake lies on the ground”. LOL
Awww, did I hurt your little feelings by pointing out your error? Grow a pair.
I enjoy discussing economics, every system has its strengths and weaknesses. Every person has a right to their opinion, and a right to be equally respected while voicing their opinion. I have no patience for intellectual bullies who like to run roughshod over people to assuage their ego.
OK...now how many branches are there of the FED? 12, is the answer. They audit that 12 and thats it. THEY HAVE NEVER auditted who owns that twelve.
You’re right about the propaganda being overwhelming. You’re just completely wrong where it originates. That’s how EPI becomes a source “worthy” of consideration, and Heritage a source that must be diminshed.
“So not only do you believe in the fallacy that “the private sector has hijacked our economy,”
I have already retracted that stupid post of mine. I was very tired, and wasn’t remotely communicating what I was thinking
about. If you want to rub my nose in it, feel free to do so. May you never post anything vague or stupid by accident.
And no, economics is not a zero sum game.
I own Bank of America stock. Bank of America gets audited. Why should I get audited?
You never told me how you know those foreign banks earn billions off the Fed.
You didn’t hurt my feelings (how could you since you are essentially just another anonymous person on just another forum) ... you only wasted my time (like you are doing now).
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