I don't think they're too worried about a weakening dollar. http://www.zerohedge.com/article/why-did-us-sdr-holdings-increase-five-fold-last-week-august
High unemployment always follows a recession....especially one as deep as this. And you realize that the U.S. powers that be are intentionally trying to dump the value of the dollar right??? I mean folks, how do you get out of a recession when inflation is low? You dump the value of your currency to get people to buy domestic, to devalue our deficit, and to make our exports more attractive. Fed knows what it is doing.
14 OCTOBER 2009 Dow 10,000: A Celebration Team coverage today on Bloomberg by the Money Honeys as the Dow Jones Industrial Average crossed 10,000 intra-day, led by J.P. Morgan, in a move that surely epitomizes the illusions of wealth granted by modern accounting practices. Can you believe the NYSE had the nerve to prepare new Dow 10,000 hats and distribute them for today? The first time the Dow Industrials crossed 10,000 was in 1999. The last time it closed over 10,000 was in October of 2008, just before the most recent plunge of the collapsing credit bubble. That does not speak well of equities for the "buy and hold" crowd, which has surely had a wild ride if they have indeed managed to hold on for the last ten years, and ex-dividends and fees and commissions and inflation and a plunging US dollar and soaring commodities are... even. And all that was required to create this economic miracle was to repeal the Glass-Steagall safeguards created by Congress after the Great Depression, decimating the productive economy, amassing a mountain of debt that can never be repaid, restructuring the Dow Industrials every so often, most recently replacing such inconsequential names as General Motors and Citigroup, and of course the devastation of the US dollar and a general loss of reputation and credibility around the world for justice and liberty. But look where we have been? But who do you think took us there? Al, Ben, Larry Summers, Robert Rubin, Sandy Weil, craven economists and the crony capitalists in corporate America and their enablers and dependents in Washington. "At what point shall we expect the approach of danger? By what means shall we fortify against it? Shall we expect some transatlantic military giant, to step the Ocean, and crush us at a blow? Never! All the armies of Europe, Asia and Africa combined, with all the treasure of the earth (our own excepted) in their military chest; with a Buonaparte for a commander, could not by force, take a drink from the Ohio, or make a track on the Blue Ridge, in a trial of a thousand years. At what point, then, is the approach of danger to be expected? I answer, if it ever reach us it must spring up amongst us. It cannot come from abroad. If destruction be our lot, we must ourselves be its author and finisher. As a nation of freemen, we must live through all time, or die by suicide." Abraham Lincoln. And to what benefit? So that a bunch of pathetic sociopaths can try and fill the hole in their hollow beings with trophy wives and trophy houses, empty titles and hair pieces, extravagant lifestyles with ridiculously overpriced cars and jewelry and ugly art, spoiled idiot children who hate and fear them as they hated and feared their own parents, and the illusion of love and power while making asses out of themselves as a few paid sycophants sing their praises, trodding over corpses on the road to hell. Oh, bravo. Well done. Surely a light for the ages. link
It's just spin. No matter what happens, he will always be right after the fact. Oh no, the market is going down, it's Obama's fault. The market is going up, Obama has nothing to do with it.
I am not sure we are intentionally trying to dump the value of dollar. More product of near zero interest rate, enormous deficit. And there is no guarantee the employment number is going to improve anytime soon, it most likely will stay bad for a long time. A weakening dollar is definitely not a good thing, even though Obama might be ok with it short term.
My theory runs like this: 1. Print craploads of money to stave off recession, financed by foreign holders 2. The value of the dollar falls to toilet paper 3. Domestic goods and services become cheap on a world basis 4. Stimulating income and tax collection 5. We pay off debt with cheap dollars (developing world goes into depression, crushing prices and fomenting revolt. US bankers rape the world again)
I pretty much think everything goes in cycles anyways. The market couldn't continue to go up the way it was, then after a crash, it will inevitably rebound. Does not really matter who the president is.
<object width="448" height="368"><param name="movie" value="http://www.dailykostv.com/flv/player.swf"></param><param name="allowFullScreen" value="true"></param><param name="flashvars" value="config=http://www.dailykostv.com/w/002255/vxml.php?448"></param><embed src="http://www.dailykostv.com/flv/player.swf" type="application/x-shockwave-flash" allowfullscreen="true" width="448" height="368" flashvars="config=http://www.dailykostv.com/w/002255/vxml.php?448"></embed></object> Listen to these nut jobs.
I can guarantee you the people on TV don't have a clue about how the world's economic system is going to react. It's as complex system of action and reaction as the weather.
I'd say it's early yet. This is a rebound wave. A harder crash is yet possible. Or The thing is over. We will never have a major dip again. All is well forever.
Honestly, there is no winning with republicans lately. They are so die hard stupid you could argue that 1+1 is 2 and they would instantly call you a socialist. After 30 republicans shot down the al franken no rape bill I realized one thing: they all are girls. They play party lines till the end. I think I'm done with them as a party, just done. I will never vote for one, and I sure as hell will never support one. DONE.
Explain how your 5 points cause the world to go into depression and bankers "raping the world." Agree with the first, the latter doesn't follow. And china has kept it's currency cheap by pegging it to the dollar for many years.
1. Print craploads of money to stave off recession, financed by foreign holders 2. The value of the dollar falls to toilet paper Supply and demand on the currency exchanges, possible loss of the dollar as the world petroleum standard. 3. Domestic goods and services become cheap on a world basis Since the Dollar is cheap we stimulate whatever exports we do have. Food, technology, heavy equipment to Canada for natural resources 4. Stimulating income and tax collection exports stimulate jobs and income measured in dollars, since it's value is relative tot he standard of living in the US 5. We pay off debt with cheap dollars The debts we owe are valued in dollars and the interest rates are being set in this low interest enviroment. So we can just hand over these dollars we takein in taxes. American Bankers and Brokers win again because 1. they are collecting fees on all these federal bonds. The bond market value dwarfs the stock market value. 2. When the US turns from a massive importer and hence, exporter of money, to producing more (once we crush the workers) the world economy will go in the dumper and people will be begging the US to take some of their crap off their hands. Foreign governments will have to start issuing debt and the sharks will bite them.
and now it's back under 10k. I wonder if it's keep going back and forth if they'll celebrate it every time? Everybody loves arbitrary, round-number milestones.
