Avoiding the fiscal cliff would mean we intend to keep spending more than we take in (at least a trillion dollars more each year). Obama is even proposing that he be granted unilateral authority to raise the debt ceiling (without congressional approval), anytime he wants. If he gets that in that deal, the minority party will be helpless to slow government spending. At that point… it’s over for the dollar. And the only way to cover all that spending is to have the Federal Reserve print, print, and print some more. The more they print, the more our currency is debased.
I guess we’ll know soon if my message board Avatar was an accurate premonition.
mauger
(Mike Auger, CMI - RI 43685, RMC-142, RMB-096)
2
Oh yeah! watching my hard earned money count for less by the second…meanwhile, our government grows by leaps and bounds.
I believe it was Thomas Jefferson who said “A government big enough to give us everything we want is also strong enough to take everything away”
It is all about control. To rule the world, you have to control it. Getting that control throws our constituition to the wind. Young people today have to worry about their cell phone coverage area more than what is going on in government. The virtual world is real to them. The real world is virtual.
This is what the government has been working on. They want people to be zombies. Wake up, or be controlled.
Sorry Nick but you fit the bill so should we be surprised you post this stuff ?
The entitled rich and their political party don’t seem to get the fact that they lost the election.
Eighty CEOs have ponied up $37 million to make sure the so-called fiscal cliff problem is resolved their way. They’re saying, basically, they’re willing to give up one of the “couple of Cadillacs” they drive if the middle class just accepts cat food as its meat course.
The CEOs, calling themselves the “Fix the Debt” coalition, claim they’ll pay a secret amount more in taxes if the 99 percent suffers cuts to its social safety net and endures slashed government programs.
Bob, printing money (devaluing the dollar) doesn’t hurt the rich. The rich have 99.9% of their wealth stored in assets, not cash. A building is still a building no matter how many dollars it takes to buy it. An ounce of gold is still an ounce of gold no matter how many dollars it takes to buy it.
Who gets harmed when you print and destroy the dollar? People who are on fixed incomes (the elderly and the poor) get harmed. The poor spend all of their money, so if the purchasing power of that money goes down, it is the poor that are harmed, not the rich. I have no idea what the price of a loaf of bread is and couldn’t care less.
If they want to avoid the fiscal cliff, continue to spend, continue to print to cover that spending, and halve the purchasing power of the dollar… my assets double (in nominal dollars)… but so does a loaf of bread. Who does that harm?
Nick you need to go back in time and stop Nixon from taking us off the Gold standard.
Just another great Republican idea.
Right up there with destroying middle class based unions,the tinkled on theory,lowering taxes for the rich,and focusing on who gets to diddle who.
How they could have lost is beyond me.
this stuff is more about maintaining what you have.
If you made your money last year (or four years ago), it’s not worth what it was then.
If you’re one of the 20 or 30,000 home inspectors that will lower their price in the next four years to continue to make the amount of money that you made last year, you’re on the downhill slide!
Not only is your money not worth what it was last year, the price you are charging for your services is being lowered because of the economic structure in place.
The economy goes to crap, nobody builds anything, nobody sells anything(or can afford to sell anything at current prices), and you don’t have crap to inspect!
… But Obama, the anointed one is going to save us all from this stuff right?!
I’ll take care of things on my own, thank you!
Nick, just send me some money now so I don’t have to collect it later through the government and lose most of what you owe me (rather what I’m “entitled to” ! ). I’ll be more than happy to accept $.50 on the dollar! Do you want my address? I didn’t think so!
I’m not a republican. I’m a member of the Tea Party (I’m opposed to borrowing from my grandchildren to pay to have my children invade other people’s homelands with pu$sy drones). And Nixon may have taken the country off the gold standard… but he didn’t take me off of it. I try to look at everything in terms of ounces of gold rather than numbers of counterfeit pieces of paper with people’s faces printed on them.
Bob, you mentioned unions. Unions fought for years to have their wages keep up with inflation so that they didn’t lose the purchasing power of those wages.
Federal spending and Federal Reserve printing does the reverse. It not only destroys the purchasing power of your income, it destroys the purchasing power of your savings.
Obama has borrowed more money than all of the other presidents combined.
If that is not enough to concern you, see you on the street without anything; because he is coming for you, and all you have. Soon, it will be like Egypt, Greece, Spain, Italy, you name it. Prepare.
There must be a period of hyper-inflation prior to any real economic downfall. Before its all over inflated dollars which are falling in value will rush to commodities in an attempt to retain value, until we see the market moving that way it is clear sailing ahead. I expect a good growth economy for the next few years and at this point am fully invested.
Bunk negative posts do nothing to help our society.
yes we are in difficult times but nothing like many other countries .
It will not improve instantly but slowly we will see changes for the better.
Printing money would create inflation only when the economy of the world is progressive. BTW commodities doesn’t appear to be escalating in 2013. And I would be a seller of gold anytime the glitter approaches the $1800 mark. This is just an opinion, not to to be taken seriously, since money matters!
