Comments on: Goldman Sachs: Brace For Recession In 2008
Wall Street's Biggest Investment Bank Predicts Housing, Credit Turmoil Will Shrink Economy
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- "Long term the dollar losing value is good for the US..." Posted by jowand
Careful about that one, think about this, The Chinese hold 1.5+ trillion in US debt, thanks to Bush''s Iraq mess, and the only reason the dollar has any value now is because OPEC takes dollars in exchange for their oil.
Any significant drop in the dollar''s value will force the Chinese to short that debt on the market to cut their losses, further depressing the value. Opec then, in order to protect the value of their oil, will switch to another currency, probably the Euro, for their oil, and there you have it, the end of the dollar.
This scenario can also happen in reverse, if OPEC switches to the Euro, the Chinese will have to dump the US debt, and there you go again.
Unless you want to start a world war to try to force everyone to use dollars, which can never succeed, even though we can see there are those willing to try. - Reply to this comment
- The reason that America has been in a recession for so long (felt by everyone from the middle class down), and is headed for a possible depression is because we''ve abandoned the idea that the prosperity and welfare of the American people are the most important goals for our economy, and have instead embraced the ideology that only corporations count, and whatever may or may not be left over for the people is fine.
Even if it''s nothing.
Very, very, simple economics 101.
ST
"Once again, a mirage of salvation condemning all."
SearingTruth
A Future of the Brave - www.searingtruth.com - Reply to this comment
- "The Fed causes recessions by jacking interest rates up until it kills business'''' cash flow. The above sample from the article is proof of this."
Posted by jowand
The euphemism they use is "cooling down an overheating economy". The Fed has always used the suffering of unemployed Americans as a tool to check inflation. Since we have been printing worthless paper to cover the corruption costs of Bush, American workers have been increasingly bearing these costs in the form of layoffs, as the real money supply is basically non existent.
Even lowering interest rates will no longer serve as a stimulant, as the lower rates will be used to restructure earlier loans to the banks. Any new job creation will be in slave labor countries, not in America.
The recovery predicted for 2009 will take the form of rich people moving in from Russia, China, and the middle east, raising the national income average via "the Bill Gates effect", i.e., if Bill walks into an alley in a slum area, on the momentary average, anyone else in that same alley becomes a multimillionaire.
For Americans the recession is already becoming a depression, minus only the wall street suicides. - Reply to this comment
- gold is hitting record highs why the dollar is tanking ... time to get out of greenbacks? Posted by king77shaw at 10:03 PM : Jan 09, 2008
Long term the dollar losing value is good for the US, it needs to go down another 25 percent. It isn''t based on the gold standard any longer, we have fiat issued paper money which has no backing. The Fed'' has issued (printed) 50 billion dollars in new paper money in the last 90 days, this is where the real inflation is. - Reply to this comment
- Goldman Sachs on Wednesday said it believes the housing slump and recent credit market turmoil will spill over into the broader economy this year. And, by the time it''s all over, economists believe the Federal Reserve will cut interest rates to 2.50 percent from its current 4.25 percent.
The Fed causes recessions by jacking interest rates up until it kills business'' cash flow. The above sample from the article is proof of this. - Reply to this comment
- But wait, the economy is doing fantastic.
Really, it is.
And we''re "winning" in Iraq.
Really, we are.
And the founding fathers always intended for the President to be a Dictator, and indefinitely incarcerate illegally abducted American and foreign citizens in secret prisons without charge or representation where they are subject to institutionalized torture and murder.
Really, they did.
And how do we know this? Because Dictator Bush has told us so.
ST
"The greatest persuader is the ever encroaching power of truth."
SearingTruth
A Future of the Brave - www.searingtruth.com - Reply to this comment
- The ''Plunge Protection Team'' Prepared
They''re not the New England Patriots
Bush of course was laughing out his arse when he said just a few days ago the economy was in good shape
Goldman Sachs sees US recession in 2008
Recession soon to be called depression of which millions of Americans are already facing although unreported by the US liberl/conservative media
FOX NEWS NEW MANTRA IN 2008
NO MORE REPORTING WE DECIDE
INSAIN McCAIN & Bilary Clinton
Unreported campaign slogans
Free the illegal immigrants enslave the citizens for a better coporate America - Reply to this comment
- gold is hitting record highs why the dollar is tanking ... time to get out of greenbacks?
- Reply to this comment
- Rowdy Tex ...What Do U look Like ?
I Love Your Posts !,....Right On ! - Reply to this comment
- Rowdy Tex ...What Do U look Like ?
I Love Your Posts !,....Right On ! - Reply to this comment
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