It is called DEBT and nobody is increasingly willing to buy it anymore. Therefore the value of the dollar drops.
Posted on 04/08/2008 11:25:08 AM PDT by kellynla
NEW YORK (CNNMoney.com) -- Some members of the Federal Reserve are worried about the possibility of a "severe and protracted downturn" in the U.S. economy, according to the minutes of the central bank's latest minutes released Tuesday.
The minutes show that some Fed policymakers are concerned that the problems in the "housing sector had deepened and that considerable uncertainty surrounded the outlook for housing."
The Fed cut its key federal funds rate by three-quarters of a point at the March 18 meeting, its sixth rate cut since September. The Fed has been cutting rates in an effort to keep the U.S. economy from falling into recession following the meltdown of the subprime mortgage market and resulting credit crunch.
But Fed Chairman Ben Bernanke told Congress last week that a "recession is possible," although he said he believed the economy is still growing slowly.
Despite the growing belief that the economy is already in recession, the presidents of the Dallas and Philadelphia Federal Reserve Banks voted against cutting rates as aggressively, a rare amount of dissent on the central bank.
(Excerpt) Read more at money.cnn.com ...
Your testimony hardly represents facts. I seemed to have picked up a certain arrogance among some here that is completely self centered on their own fortunes, according to them.
Damn you're good. I was just about to type that very sentence but you beat me to it!
.It can be applied to numerous posts on this site, on this topic and others.
What is, is, regardless of what you or I think or wish it to be.
I really do wish you and yours luck in all you do.
This country is a wonderful place. It has opportunity.
Doesn't always land directly into your lap though.
Sure you were. I quess we can trust you on that one too.
No it isn't that at all. It is what government is doing to the dollar that is stealing what others have worked for off their lap.
The more relevent question is does it apply?
It's always fun to watch liberals end up making no sense.
What part of "the government" is doing this?
What part of this enterprise (the doing in of the dollar) has no bearing on or a or result of market forces?
Who is it that is rubbing their hands and purposefully destroying the US economy by F***ing the dollar?
And most important, who gains is in fact the us economy tanks?
But me being the cynical person I am thinks the unemployment stats are also a little ‘Rosy’.”
I read something to the affect that they count the bodies on unemployment and the ones who have exhausted their unemployment benefits and still don’t have a job are not counted.
Anyone know for sure?
The fact that you see no sense in that speaks volumes about your perceptions and general mental status.
Sorry to have wasted your time.
Of course they cannot measure the cash economy nor do they register Illegals.
All in all, a very rough measure at best IMO.
Higher prices of “core products” do not comprise a recession under any measure. If I used to spend $150 a month on gasoline and now I’m spending $300 per month, that extra $150 has to come from somewhere. Maybe I reduce my spending on movies, ballgames, cable TV, etc. by $150 . . . but my miniscule contribution to the nation’s GDP hasn’t changed at all.
It is called DEBT and nobody is increasingly willing to buy it anymore. Therefore the value of the dollar drops.
Heck, I bet you could even drive down food prices if you ate out of a dumpster.
Yet everyone appears to be suffering from significantly higher food prices.
And yet, you have yet to comment on this chart. Liberals always avoids facts. Don't try to keep pulling the wool over everybody's eyes.
No, but that is an example of first how government reports do not accurately reflect economic reality and, second, an event which can lead to a recessionary environment.
Economic growth depends on discretionary spending, and higher costs of necessities reduce discretionary spending.
Living in cardboard boxes? Just the number of jobless adults living at home with parents would blow you away if you knew and stopped to think about it. Then there are people cashing in their 401ks and people living off credit cards or collecting some form of disability or boomers taking early retirement. The numbers would shock you. For many people, there are many temporary and semi-permanent means of staying off the cardboard boxes.
I've noticed that when challenged, he usually runs.
You won’t get an argument out of me on that. Food costs are being directly impacted by several factors... the largest being the manipulation of the food supply by the mandates for biofuels. Add to that the higher cost (in the US) of fuel to transport said food, and the crazy weather going on (flooding, failed crops, etc.)... They all add up to higher grocery costs. And for us in the US - a devalued dollar isn’t helping.
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