Do you even bother to read my posts anymore? If you did, you'd know how I felt about the previous administration.
Hey papa and panther, Would it shock you to learn that the world's most famous investor, Mr. Buffet himself, agrees with the basic points I've been making? Uh Oh, Spaghetti-O I coulda wrote that dang transcript from this thread.... PS (He voted for obama!)
So you agree with: Last fall, our financial system stood on the brink of a collapse that threatened a depression. The crisis required our government to display wisdom, courage and decisiveness. Fortunately, the Federal Reserve and key economic officials in both the Bush and Obama administrations responded more than ably to the need. They made mistakes, of course. How could it have been otherwise when supposedly indestructible pillars of our economic structure were tumbling all around them? A meltdown, though, was avoided, with a gusher of federal money playing an essential role in the rescue. http://www.nytimes.com/2009/08/19/opinion/19buffett.html?pagewanted=1&_r=1 The op-ed piece the video was referring to.
P-Diddy, what part of this don't you understand? You can check out your own graph and see that is exactly the case. Bush has been gone for 8 months. The dollar sucked big time under him as well, mainly because of his craptastic, big-guberment policies. So what?! The dalibama administration. http://finance.yahoo.com/echarts?s=...=on;ohlcvalues=0;logscale=on;source=undefined Why am I going to bother to go back and talk about how crappy bush was? Is he our current president? Can he do anything about it? Of course not. If the dollar continues its decline: -It'll elongate this recession -It'll be like a nationwide tax increase that the gov't see's nothing from -Our trade deficits will balloon -The inflation that is coming around the corner will be more severe My entire point is, and has been, Obama is doing the exact opposite of what needs to be done to bring us out of this recession. If you're so concerned with history, why not check out the jimmy c administration if you really want to see what is right around the corner for us.
So, somehow you cherrypicked from that video what you wanted to hear, and just decided to completely graze over the main point. Warren Buffet says Obama's fiscal policies suck. Yo, P-diddy, where's that whoosh picture you love to use so much? And billybob, you do realize that it WAS the government that caused the problem in the first place, right? Why do liberals always think you can solve government run problems and deficiencies by more government?!
PS...you might want to check the date the stimulack bill was signed, and the effect that had on the dollar.
well while you guys argue about who owns what... the FDIC is bankrupt, but shhh... dont tell anyone. http://www.sovereignsociety.com/200...yAugust142009theFDICi/tabid/5911/Default.aspx http://www.bloomberg.com/apps/news?pid=20601087&sid=aqxHLAHU_m2k :tut:
It shows the effect massive government spending has on the dollar. You can see it when bush pushed through his crappy programs. You can also see the effect that reducing government size has when after the republican revolution in 94. Euro was .80 to the dollar by the end of 99. And why are you calling me chicken little. I'm saying the dollar is going to slump for the next 2 years, not that it will be worthless and we'll all end up broke. Something like 60% of the world's bank reserves are in the form of the dollar - they can't let it completely flop. At least, not without another currency to balance it against (which incidentally, Russia is proposing)
All I did in my first post was point out to you that the dollar was weaker at its worst point in 2008 than it has been at any point since the new administration started. You can try to spin your original statement as well as the data any way you want, it won't change the facts. Your problem is that since apparently you now believe you are a currency trader, you foolishly thought you're the only person who has a vested interest in knowing what the dollar is doing in relation to the euro. Unfortunately, you were wrong on both counts. Nothing you have posted since my first post has contradicted what I said. Anytime you feel like adding something, look at the chart again and drop it. You can't make what you said disappear. You noticed he said that too, uh? Jerk is just an attitude. I can change it anytime I want. Your stupidity, on the other hand, you are stuck with for life. I feel bad sometimes responding to your posts because, well, let's face it, you are retarded. But the feeling goes away quickly. But while I have your attention, have you found that definition of liberal yet?
Congratulations on pointing out a point that was so blatantly obvious, it didn't need to be stated. Are you going to point out that the sky is blue next, too? Maybe that the gas is on the right, and brake on the left? Congratulation captain obvious. Nothing you have posted since my first post has contradicted what I said.
Come on, Lever. You tried, you failed. Be a good sport. One of us plays Gordon Gecko in his basement, the other actually used to have a Wall Street job. While Gecko Junior was in high school. Don't hate.
For those who still live in Obama Pleasantville: http://news.yahoo.com/s/ap/20090821/ap_on_go_pr_wh/us_obama_poll
Hopefully you guys have been saving money and stockpiling supplies... things are really going to take a downturn soon http://www.financialsense.com/fsu/editorials/willie/2009/0820.html If foregin markets stop buying up our bonds, our entire system will collapse... and look at whats happening.
Here's the "about the author" blurb at the end of the article that comes from: Just pointing out that he has a vested interest in things taking a turn for the worse. Take it with a grain of salt.
well... how about this? http://market-ticker.denninger.net/archives/1358-Here-Comes-Trouble-Three-Problems.html
Any annuity savvy ppl in here? I lost 50% of my money in mine when things hit rock bottom last yr iirc.....it recovered about 25% since then.....Good idea to move into a fixed account?
Is there any reason you ignore this part in the conclusion of Buffet's op-ed piece? Then there's his statements from July of this year... And, no, you're not a peon. You're a bright young man who too often lets his heart or his balls take the place of his brain.
