The Con That Turned the World Against America

The Trumpet ^ | November 2007 | Staff

[HisKingdomWillAbolishSinDeath]

The world’s financial system came precariously close to seizing up recently.

In fact, as far as some big banks and financial institutions were concerned, for a moment in time, the system was in a full-blown cardiac arrest. Liquidity, the flow of money—the lifeblood of today’s economic structure—came uncomfortably close to clotting up in August this year.

Defibrillators sizzling and money flowing, central banks around the world acted in concert to jump-start financial markets, slashing lending rates and injecting nearly a half trillion in dollar steroids into the economic pulmonary system.

But contrary to what the big media outlets may have reported, it is actually inconsequential whether or not central bankers succeeded in temporarily stabilizing markets.

Irrevocable damage to America’s economic system has taken place.

And because the world’s largest economies are so closely intertwined, the effects will not be limited to the United States. Confidence in the world’s financial system—a system based on the dollar as the reserve currency—is failing, not because of a liquidity crunch, a popping housing bubble, or the myriad of other commonly cited economic causes, but because of broken faith. The result in the end will be a new world financial order—one without America at the head.

[Roccus]

Although I’m skeptical of that first chart, I’ll accept it for now. That last chart however, is misleading. Aircraft and armaments (probably our biggest $$ items) skew those numbers.

[Petronski]

schitsophenia

???

[Petronski]

Well, there many kinds of nigh. We're really really nigh now.

But we'll be even more nigh tomorrow.

[Toddsterpatriot]

Aircraft and armaments (probably our biggest $$ items) skew those numbers.

We shouldn't count aircraft and armaments because they aren't manufactured goods? Any other manufactured goods we shouldn't count because you said so?

[Toddsterpatriot]

The country started on the shift from a manufacturing economy to a service economy in the Carter years

You think manufacturing was more than 50% of our economy before the Carter years?

[Roccus]

I tried to keep this civil, but...OK, fine, you’re right.

[Toddsterpatriot]

I’m sorry, was my comment uncivil? Maybe you can explain the logic behind excluding aircraft and armaments?

[Toddsterpatriot]

It’s called “Kitchen Sinking”. It acts as an opportunity to dump most if not all of the bad, and then show profits afterwords.

Sounds like you've worked in financial reporting. LOL!

[groanup]

Ping.

Another article.

Anytime a lot of people lose a lot of money on the same type of investment it's someone else's fault. Time to point fingers and blame. Didn't any of these sub prime investors wonder why they were getting junk bond yields on AAA paper?

But it doesn't matter. If investment genius X loses a ton of money at the same time all the other investment geniuses are losing even more, X's job is safe. Your money isn't but his job is.

[investigateworld]

" Although I’m skeptical of that first chart, I’ll accept it for now. That last chart however, is misleading. Aircraft and armaments (probably our biggest $$ items) skew those numbers. "

You don't want to forget the vaunted American pizza manufacturer's are included in "manufacturing".

[Toddsterpatriot]

You don't want to forget the vaunted American pizza manufacturer's are included in "manufacturing".

How much do they "manufacture"?

[investigateworld]

Per Google, about $2.37 billion P/A

But they could have fudged and slipped in Boston Cream Pies, again YMMV.

[Toddsterpatriot]

So $2.37 billion as compared to nearly $2 trillion.

Sounds like the gov't is scrambling to hide something.

For sure, one tenth of one percent is definite proof they're hiding something. What are they scrambling to hide again? LOL!

[investigateworld]

Sheesh, you should hear some folks here whine ‘cause ‘mericans are paying a few pennies more for sugar ;^)

[Toddsterpatriot]

Two to three times the world price.

Enough to pay for lots of manufactured pizza. Ask your conservative friends, if you have any, they probably think it's a bad idea.

[longtermmemmory]

I expect a recycling of the “rollover 1999” panic mongering book.

We are all doomed.

Malase is back. (what next? Jimmy Cater is not really a fraud and was really competent?)

[investigateworld]

The Horror!

Like obesity is not US health problem? And I suspect most obese folks get their health care via the taxpayers. So, calculate 300,000,000 Americans vs. $2.5 billion, and make an allowance for add'l health costs and the resulting cry for a socialized health system......

[Toddsterpatriot]

The Horror!

Higher sugar prices, it's a good idea. LOL!

Like obesity is not US health problem?

We should make sugar more expensive? For the children!

Let's triple the price of gasoline, 'cause fat people should walk more. Are you sure you're on the right site?

[investigateworld]

So why are you picking on fat people?

I know your type; you hang around at the local Wal-Mart on the first of the month, just to watch the tubbys fight over the electric carts

Why?

Too cheap to get cable?

[Toddsterpatriot]

You mentioned obesity. I guess you think higher priced sugar will reduce obesity?

Any other goods you feel Americans should pay higher prices to buy?