[tmp02]

I'm interested to see what some of you think about this report...

[Gibtx]

this is plane garbage... more bs from the left is falling crowd..

[The Hollywood Conservative]

I think its silly... And the tone is so glib as to diminish any thought of seriousness I might lend it.

[Petronski]

More proof we all need to buy gold. Gold! GOLD!!!

[woofie]

Its the end of the world ....again

[Clintonfatigued]

It makes valid points, even though I don't agree with everything it claims. It's correct that more fiscal prudence is needed across the board.

[Prolifeconservative]

Just another in a long list of "blah-blah-blah" opinions.

[Radioactive]

I've heard more gloom & doom in the last 35 years to last me a lifetime.

I don't pay much attention to the the "World is going to end" crowd because they have not been right yet.

[per loin]

Your analogy entirely misses the significance of buffalo sh*t.

[Mulder]

This economy is build on a house cards: massive debt at all levels.

It's still riding the wave of the manufacturing revolution of the mid 1900s, and the technological revolution of the 1980s and early 1990s. That won't last forever.

[stig]

The problem is it doesn't take into account that the boomer's own the house. They may take back a mortgage but if the economy is so bad that the house is now worth 25000, then bread is probably $0.25 a loaf. So they kick out junior and rent it to Mr. Upandcomer for $200 per month with that they can buy more than enough bread to feed themselves and live out the rest of their days on the planet.
Now if they leveraged themselves to build junior's house then it's called bankruptcy. We've already seen this happen before can anyone say Southwest real estate in the 80s?? The point is we survived that debacle. The Japanese survived the Tokyo real estate slow down. Does that mean that some people aren't hurting? No, you can always find someone who hit the market at the exact wrong time. But overall as a society we will survive. I think that's what the great depression taught the US. Since then we've survived the savings and loan debacle and the corporate accounting debacle. And thanks to George W. Bush we quietly fixed the corporate prescription drug scandal. So quietly most people don't even know we fixed it.
Is it fixed so well that the fix won't break? Again these big national problems always seem to rear their ugly heads every 5 - 10 years or so. But our economic system is more spread out. Many more checks and balances in it than back in the 1930s. Don't forget the savings and loan debacle cost George Bush 1 the presidency. The drag on the economy was so great that the recession it caused was used by the democrats to give Clinton the edge and give Perot a toe hold.

[You Dirty Rats]

The solution to the problem is more immigration so that there are people to change the bedpans of us Boomers when we're drooling.

[ETERNAL WARMING]

The House of Cards will come tumbling down one of these days. Sadly, because of Outsourcing policies and trade deficits with every nation on earth, there will be nothing to pull us back out.

Scripture says of those days, "A piece of bread will buy a bag of gold."

[Dalite]

Points to ponder:

The "anti-counterfeiting" bills released starting in 1996 and 2003 (and planned each 7 years from now on) co-existed with previous issues in the money system. 1995 (and earlier) bills are still in circulation. Based on this, in 1996, the cash supply doubled. Since these bills were introduced to foil counterfeiting, and the plan was to gather up previous issues on a one-to-one basis, it becomes a given that no bonds were sold to back them. In effect, they represented 100% inflation, In 2003, the second series was introduced, and judging from the number of pre 1996 bills still in circulation, it can be said that the money supply then was quadrupled.

Inflation was reported to be around 2.5%, while interest rates were around 1%. Some said that money in the bank was actually "deflating" during this period.

Inflation is a "hidden tax", giving the appearance of rising prices, due to lessened buying power. In other words, inflation means the dollar looses value.

Has anyone looked at the Dollar against the Euro lately? How about the fluctuations in the silver, gold and platinum markets. The Euro is hovering around figures that represent an all-time high, and gold is at, or near 16 year highs.

The Federal Reserve, by way of the FOMC meetings held every 6 weeks, set the overnight bank lending rate. This is the rate that banks can make use of on Thursday nights to make sure they have the required 3% of your deposited money on-hand to meet the required weekly margin call (and for the obligatory"other purposes").

The purpose of this rate manipulation is to balance inflation against unemployment. These are the criteria that Greenspan uses. However, in recent years, Greenspan has had to abandon the distinction between M1 and M2 in the aggregate. Due to relaxed credit regulation and excess cash in the money stream, historical data hasn't been returning predictable results. Greenspan is lucky to have his age converge with the end of his tenure. Dire Straits will most likely come after the new Fed Chairman is sworn in.

This is not something that either a Presidential Candidate, President or Political Party can control.

Keeping the masses at odds with each other over which party is at fault allows this kind of fiscal manipulation to continually fly under radar.

We are facing a real problem in the coming retirement of the Baby Boomers. No only has manufacturing and housing suffered as their demands are reaching final fulfillment, also the job market numbers will see some previously undocumented spikes as both the numbers needed in the national job market shrink. This will also create greater disparity of wages as they start retiring enmasse, at top pay, being sporadically replaced with jobs at entry level pay.

We are soon to experience the largest generation ever produced in the U.S. leaving the workforce. The great sucking sound that will announce their departure will be the demands on Pension Plans, both private and Federal in nature. Is it any wonder that the borders are being left unguarded in an attempt to fill this void?

This isn't a Republican or Democrat matter. It started around 1910 with the failed Aldrich Act, which passed as the Owens-Glass Act in 1913. By 1917, it had uncloaked as the Federal Reserve Act at the same time that the Federal Income Tax was born.

It is no coincidence the the Bush Administration is currently looking at reworking both Social Security and The IRS Tax Code. These 2 go hand in hand. Every successful prostitution ring needs 3 things Supply of customers (Federal Reserve), Prostitutes (Social Security) and Pimps (IRS). These three players are integrated into the current monetary policy we are operating under. At least Bush is actually going to try to tackle the problem. When he said he had Political Capital and he was going to start spending it, this had to be one of the main things on his mind. No other president was willing to admit the depth of the problem, and he already has (by proxy) by choosing to simultaneously tackle both SSI and the IRS.

[TXnMA]

Asinine use of analogies. Incomprehensible garbage!

If the dumb@$$ author wants to write about economics, why does't he use economic terms instead of 'buffalo droppings'...?

Pure, amteurish drivel!!!