*money

Adding video to channels (Money) - requested by marinara.

As I understand it, employment typically lags the economy by about a year.

Are you saying we shouldn't be happy that the economy is turning around because employment hasn't caught up yet? Seems to me that the sooner the economy turns around, the sooner people will be able to get back to work. That's reason enough to cheer it on for me.

GO recovery GO!!!

>> ^happyTurtle:
As I understand it, employment typically lags the economy by about a year.
Are you saying we shouldn't be happy that the economy is turning around because employment hasn't caught up yet? Seems to me that the sooner the economy turns around, the sooner people will be able to get back to work. That's reason enough to cheer it on for me.
GO recovery GO!!!


There is only one problem. The economy has been in the tank, and is still in the tank.

Gold is up and the dollar is down. The US owes a shit load of debt to the Chinese, and Japanese. The time to pay that debt is soon. When countries stop trading in your Fiat currency then your currency fails. Which is what we are seeing.

http://www.informationclearinghouse.info/article19205.htm

This is from wikipedia:

Public debt $11.9 trillion (October 2009)[8] 83% of GDP
Revenues $2.106 trillion (2009)[9]
Expenses $3.515 trillion (2009)[9]
Economic aid ODA $19 billion, 0.2% of GDP (2004)[10]

>> ^NordlichReiter:
You would think that revenue would need to be greater than expenses right? I'm no economist, but I do know that if I spend more than I make I'll probably go bankrupt soon.


You would be correct in that assumption, the problem is trying to get anyone to agree in the correct way to best increase revenue while decreasing expenditures.

The conservatives will tell you that we just need to cut all but the barest of expenditures while cutting revenue as well. Liberals will suggest increasing revenue while encouraging efficiency with spending.

I like to look back to history to base my opinions on government spending and taxation. Historically, the economy of the US has performed better when corporate and personal tax rates were high than when they are lowered. I'm no economist either, so I'll concede that there may not be a causal relationship between high taxation and a well performing economy, but there definitely seems to be a correlation.

To me it's a question of value. I'd much rather have high taxes with loads of well funded social programs that contribute to a better quality of life for everyone, than our current situation of lower taxes, poorly funded everything, and the majority of our society struggling to get by, while a lucky few reap the rewards of buying the right elections.

Whoa Whoa but I love walmart and all the china made stuff.....are you telling me there are consequences to continuously buying stuff not made in our own country?

>> ^happyTurtle:
As I understand it, employment typically lags the economy by about a year.
Are you saying we shouldn't be happy that the economy is turning around because employment hasn't caught up yet? Seems to me that the sooner the economy turns around, the sooner people will be able to get back to work. That's reason enough to cheer it on for me.
GO recovery GO!!!


This just in:

Fed sees slow recovery holding jobless rate high

Wow... does anyone actually still have a job?

@NordlichReiter

The dollar is only really down to levels it was pre-financial crisis. Taking your reference point at the height of the global financial crisis is unfair because everyone was buying up US treasury bonds and over inflating the currency.

The fact that countries are considering moving away from the US dollar as the reserve currency, the currency they trade in, and which they keep as foreign reserves is a good thing in the long term. This has kept the US dollar overvalued for decades, and has contributed significantly to the unsustainable consumption and housing binge, and was obvious a major catalyst for the global financial crisis. A rebalancing would put the onus further on factors of GDP such as investment as a contributor to economic growth.

To say that the economy is in recovery is not disingenuous. They're simply using leading indicators such as stock price or inventory levels, which are generally good predictors of economic recovery and in this case a pending fall in unemployment. The scale of that is anyone's guess though, as is how much of the economy was spurned by returning business confidence in the private sector rather that purely government stimulus and specific programs such as first home buyer's grants and cash for clunkers.

>> ^NobleOne:
Whoa Whoa but I love walmart and all the china made stuff.....are you telling me there are consequences to continuously buying stuff not made in our own country?


My wife and I recently bought a pair of La-z-boy's over here in Australia. They're 'assembled' in China. When one of the most iconic symbols of western decadence is produced in China, it's a hint and a half for your ass...

>> ^RedSky:
@NordlichReiter
The dollar is only really down to levels it was pre-financial crisis. Taking your reference point at the height of the global financial crisis is unfair because everyone was buying up US treasury bonds and over inflating the currency.
The fact that countries are considering moving away from the US dollar as the reserve currency, the currency they trade in, and which they keep as foreign reserves is a good thing in the long term. This has kept the US dollar overvalued for decades, and has contributed significantly to the unsustainable consumption and housing binge, and was obvious a major catalyst for the global financial crisis. A rebalancing would put the onus further on factors of GDP such as investment as a contributor to economic growth.
To say that the economy is in recovery is not disingenuous. They're simply using leading indicators such as stock price or inventory levels, which are generally good predictors of economic recovery and in this case a pending fall in unemployment. The scale of that is anyone's guess though, as is how much of the economy was spurned by returning business confidence in the private sector rather that purely government stimulus and specific programs such as first home buyer's grants and cash for clunkers.


Cash for clunkers was the biggest waste. The other parts of your arguments I cannot find fault with.

Taking assets that can be modified, recycled reused, and even melted down for metals and destroying them and leaving them in a dump yard is a waste. Why would you destroy something that has re-usable parts and resources?

Differential gears, transmission parts, bearings, four wheel drive parts, pinions, springs, headers, skid plates, hubs, disks, and shoes. Instead they put sodium silicate into the engines. All because the government doesn't want the cars traded in being re-sold back into the market.

I would argue that having a hulking dump of cars, like I see on the side of the Highway is worse than seeing a repaired 78 Volkswagen van that runs on diesel, or electricity.