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To: ecrire who wrote (27615)5/2/2012 2:52:40 AM
From: GST5 Recommendations   of 29401
 
So you are saying this guy is clueless? <The Federal Reserve is propping up the entire U.S. economy by buying 61 percent of the government debt issued by the Treasury Department, a trend that cannot last, Lawrence Goodman, a former Treasury official and current president of the Center for Financial Stability, writes in a Wall Street Journal opinion article published Wednesday.>

Read more: WSJ: Fed Buying 61 Percent of US Debt

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To: GST who wrote (27616)5/2/2012 9:39:05 AM
From: Metacomet1 Recommendation   of 29401
 


So you are saying this guy is clueless?

Goodman also warns that U.S. economy and markets are “at risk for a sharp correction” if conditions aren’t “normalized.”


If he isn't, I'll say it

This guy is clueless

What does this fool think is the status of the economy and the markets without that government support?

We are recovering from a depression, not a recession

There are no other liquidity sources

Newsmax is a joke

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To: GST who wrote (27616)5/2/2012 9:59:18 AM
From: Tommaso   of 29401
 
Before I got up this morning I was thinking that maybe the closest parallel to the fiscal situation in the U. S. (and most of the rest of the world) would be China --maybe 800 years ago.

Am going to research to see if there are any trustworthy accounts of the failed paper-money era then.

Well here's one, but right in the first paragraph is a mistake. The word "cash" does not come from Chinese.

financialsensearchive.com 

Maybe better:

dailyreckoning.com 

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To: Metacomet who wrote (27617)5/2/2012 10:08:36 AM
From: Nevada99995 Recommendations   of 29401
 
Keynesian central bankers are attempting to purchase a recovery from a deleveraging that has barely even begun. The price tag continues to rise as the facts become apparent. The facts are that following the last depression there were 20 or 30 years of economic growth followed by 40 or 50 years of debt fueled living beyond our means that has now climaxed. Only one thing is certain. There is a price yet to be payed for prior excesses and we don't recover for real until it is paid, probably through depression, because it is clear that sensible economic policy is not an option.

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To: GST who wrote (27616)5/2/2012 10:09:40 AM
From: Nevada9999   of 29401
 
No, I think he is saying he is clueless.

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To: Nevada9999 who wrote (27619)5/2/2012 10:11:09 AM
From: Metacomet2 Recommendations   of 29401
 
The proposition that what we are doing has dastardly repercussions is comical

Dastardly repercussions are what GOP fiscal policy bought us prior to 2010

All we need to do is stop doing what we are doing to see those repercussions...now rather than later

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To: Metacomet who wrote (27621)5/2/2012 10:24:20 AM
From: Nevada9999   of 29401
 
There is no way around it. We are going to see it. There was still a chance of rectifying things in 2000 with moderate pain. The policies that have been employed since would have been considered lunacy then. As this economy rolls over again they will have to double down on the lunacy again to put off the inevitable. What's your vision for the future?

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To: Metacomet who wrote (27621)5/2/2012 10:35:30 AM
From: Mike M23 Recommendations   of 29401
 
I suggest that you read "The New Depression" by Richard Duncan to understand that this credit bubble was decades in the making. It's only 170 pgs -excellent read . Duncan is the author " The Dollar crisis -causes consequences, cures" . There is plenty of blame for both parties going back to President Wilson signing the Federal Reserve Act . financialsense.com 

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To: GST who wrote (27616)5/2/2012 11:00:55 AM
From: ecrire   of 29401
 
The referenced article refers to Fed actions LAST YEAR. I don't know about the "61%", that sounds high, probably just throwing numbers around.
Since then, the Fed has not increased its balance sheet.
Also, since then, Treasury auctions, without Fed participation,have gone well, both domestic and foreign.
The theme of the inevitable crash to come eventually is widely accepted by doomsayers but there are better potential alternatives, such as an improving, job producing economy, which would then justify the Fed's accomodative policies.

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To: GST who wrote (27616)5/2/2012 11:05:24 AM
From: Tommaso   of 29401
 
I am beginning to despair of getting really trustworthy information about Chinese paper money of 800-1,000 years ago.

People keep quoting Marco Polo on the subject, but never specify the exact source. I downloaded Polo's "Travels" in a Kindle edition and though there are many references to paper money, there is nothing resembling the statements scattered all over the Internet and attributed to him. Would love to be corrected about this.

There does seem to be a consensus that overissue of paper money in China did cause repeated bouts of inflation and destruction of the currency.

Our own experiment of pure fiat money is as we all know just over 40 years old. The rise of the price of gold over sixfold in about a decade does say something about the dollar.

Too many lies being told on all sides of the issue.

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