dappa1
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The Dollar $
I have heard on the local radio (Talk Sport) that America is fourteen times more in debt than Britain and that we are atleast two weeks away from an economical down turn and the news regarding hacking and other news is a deterant from the real situation. question is could we go bust that soon? I was atleast thinking it would come in 2013 or 14!
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dappa1
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Re:The Dollar $
2011/07/22 10:13:03
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What would you want as the new currency? Certainly cant have euros! I guess its one of those subject that even the superpowers are scared of talking about!
post edited by Dappa1 - 2011/07/22 10:22:01
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bapu
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Re:The Dollar $
2011/07/22 11:08:25
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Dappa1 What would you want as the new currency? Bapus. That way, I'd be rich.
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Beagle
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Re:The Dollar $
2011/07/22 11:26:49
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bapu Dappa1 What would you want as the new currency? Bapus. Moobs That way, I'd be rich. fixed.
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bapu
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Re:The Dollar $
2011/07/22 11:29:24
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Beagle bapu Dappa1 What would you want as the new currency? Bapus. Moobs That way, I'd be rich. fixed. For over 30 years now.
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Old55
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Re:The Dollar $
2011/07/22 13:03:43
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Aren't Moobs very prone to inflation?
Should auld acquaintance be forgot--hey, who the hell are you guys? X2(X3 pending hardware upgrade), Emulator X2, E-mu 1212M, Virtual String Machine
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Old55
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Re:The Dollar $
2011/07/22 13:07:29
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What would be the symbol for a Moob? UU?
Should auld acquaintance be forgot--hey, who the hell are you guys? X2(X3 pending hardware upgrade), Emulator X2, E-mu 1212M, Virtual String Machine
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Bub
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Re:The Dollar $
2011/07/22 13:40:33
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Dappa1 I have heard on the local radio (Talk Sport) that America is fourteen times more in debt than Britain That makes sense seeing how the U.S. is roughly 39 times larger than the U.K. Don't listen to everything you hear on the radio. Thomas Jefferson Quote of the day ... "The man who reads nothing at all is better than educated than the man who reads nothing but newspapers."
"I pulled the head off Elvis, filled Fred up to his pelvis, yaba daba do, the King is gone, and so are you."
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Mesh
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Re:The Dollar $
2011/07/22 14:38:01
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Bub Dappa1 I have heard on the local radio (Talk Sport) that America is fourteen times more in debt than Britain That makes sense seeing how the U.S. is roughly 39 times larger than the U.K. Don't listen to everything you hear on the radio. "The man who reads nothing but the CH all day is more educated than the man who reads moobs for news." Journalized!
Platinum Gaming DAW: AsRock Z77 Overclock FormulaI7 3770k @ 4.5GHz : 16GB RAM G.Skill Ripjaws X 250GB OS SSD : 3TB HDD : 1TB Sample HDDWin 10 Pro x 64 : NH-D14 CPU Cooler HIS IceQ 2GB HD 7870Focusrite Scarlett 2i4The_Forum_Monkeys
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SteveStrummerUK
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bapu
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Randy P
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Re:The Dollar $
2011/07/22 15:11:42
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bapu SteveStrummerUK Old55 What would be the symbol for a Moob? UU? LOL Only longer and wider UU Pretty sure the left one is actually a little smaller than the other. Just sayin........... Randy
http://www.soundclick.com/riprorenband The music biz is a cruel and shallow money trench,a plastic hallway where thieves & pimps run free and good men die like dogs. There's also a negative side. Hunter S. Thompson
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Guitarhacker
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Re:The Dollar $
2011/07/22 17:37:49
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What you are hearing on the radio & TV is a bunch of BS. The only thing that will happen 8-2 is that the USA will not be able to borrow more money to pay it's debts. It has an estimated 200 billion PER MONTH in tax collection income that can easily cover ALL of the US Treasury bonds that are due, as well as SS/MC and other critical services. What might happen is that the non-essential stuff, like research into 3 legged turtles and some federal bureaucracy they stuff might shut down.... but we will not default or go belly up unless this administration decides to fund the shrimp treadmills and other pet projects over the critical stuff. I wouldn't be a bit surprised if they did though...... I say, lets hit that ceiling and sort it out..... now rather than later with a higher ceiling and several more trillion at stake.
My website & music: www.herbhartley.com MC4/5/6/X1e.c, on a Custom DAW Focusrite Firewire Saffire Interface BMI/NSAI "Just as the blade chooses the warrior, so too, the song chooses the writer "
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trimph1
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Re:The Dollar $
2011/07/22 20:09:09
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rsp@odyssey.net bapu SteveStrummerUK Old55 What would be the symbol for a Moob? UU? LOL Only longer and wider UU Pretty sure the left one is actually a little smaller than the other. Just sayin........... Randy As in U U ?
The space you have will always be exceeded in direct proportion to the amount of stuff you have...Thornton's Postulate. Bushpianos
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craigb
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Re:The Dollar $
2011/07/22 20:16:06
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Time for all of you to head over to Beyond My DAW!
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Old55
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Re:The Dollar $
2011/07/22 20:43:46
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Should auld acquaintance be forgot--hey, who the hell are you guys? X2(X3 pending hardware upgrade), Emulator X2, E-mu 1212M, Virtual String Machine
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timidi
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Re:The Dollar $
2011/07/22 20:45:26
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"deficits don't matter" Dick Cheney
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quantumeffect
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Re:The Dollar $
2011/07/22 23:14:02
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My concern is the value of the moob in a sagging economy and the feds plan to bolster it. Additionally, if we impose tariffs on countries that undervalue their currency against the moob, the move could prompt a tit-for-tat.
Dave 8.5 PE 64, i7 Studio Cat, Delta 1010, GMS and Ludwig Drums, Paiste Cymbals "Everyone knows rock n' roll attained perfection in 1974. It's a scientific fact." H. Simpson "His chops are too righteous." Plankton during Sponge Bob's guitar solo
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craigb
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Re:The Dollar $
2011/07/22 23:22:36
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"We have reached a time in history where we must lift and separate!" - Some spokesperson or another
Time for all of you to head over to Beyond My DAW!
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slartabartfast
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Re:The Dollar $
2011/07/23 04:32:55
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question is could we go bust that soon? Depends on how you define "bust." If you mean do we owe more than we have, we did that about 14 trillion dollars ago. The question is when we will run out of credit. We generally do not consider an individual to be busted if he owes more on his house, cars, and credit cards than he has in the bank. So long as he is able to make regular payments on his loans, he is considered a pillar of the community. We would not encourage a person who owes more than he earns in a year to solve the problem by stopping payments on all of those debts. Nor would we counsel a business that was facing a general shortfall in the future to charge their wealthiest customers less for the products it sold because charging them enough to keep the business solvent would discourage them from creating jobs that might bring the business more customers in a decade or so. We might recommend that an individual begin to look for a better paying job, or a business to raise the price of its product, and for both to look at ways to economize in the future. We would not recommend that either should set an arbitrary deadline a few weeks from the present to default on debts, stop paying employees and suppliers and use bankruptcy as a device to enforce fiscal rectitude. Unless we wanted to destroy them.
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Old55
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Re:The Dollar $
2011/07/23 08:49:45
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quantumeffect My concern is the value of the moob in a sagging economy and the feds plan to bolster it. Additionally, if we impose tariffs on countries that undervalue their currency against the moob, the move could prompt a tit-for-tat.
Should auld acquaintance be forgot--hey, who the hell are you guys? X2(X3 pending hardware upgrade), Emulator X2, E-mu 1212M, Virtual String Machine
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slartabartfast
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Re:The Dollar $
2011/07/23 13:54:40
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The only thing that will happen 8-2 is that the USA will not be able to borrow more money to pay it's debts. It has an estimated 200 billion PER MONTH in tax collection income that can easily cover ALL of the US Treasury bonds that are due, as well as SS/MC and other critical services. What might happen is that the non-essential stuff, like research into 3 legged turtles and some federal bureaucracy they stuff might shut down. Billions are big numbers, no one could ever spend 200 billion a month--lets look at more comprehensible percentages. The generally accepted figure is that average daily income for the federal government will cover roughly 60% of expenditures. The other 40% must currently be borrowed. In 2011 so-called mandatory spending (social security, medicare, medicaid) account for ~57% of the total spending. Defense is about 14%. Net interest on the debt is 6.5 % at current ridiculously low rates of ~0.3-3%. That leaves so-called non-defense discretionary spending of ~17%, which includes research into three-legged turtles, highways and other infrastructure, veterans affairs, foreign affairs, education etc. So if we stop paying all of the three-legged turtle division of the budget, we are left with 83%. Income covers 60%. Do the friggin math. If the Chinese and other investors decide that because of the perceived inability of ideologues in both major parties to recognize this kind of simple math they have to receive a higher rate of return on US bonds to cover the (low but not non-existent) risk of default, the interest rate on the national debt could easily become a much larger proportion of the budget than it is now---even without increasing government spending one cent.
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dappa1
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Re:The Dollar $
2011/07/25 05:06:39
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Bub Dappa1 I have heard on the local radio (Talk Sport) that America is fourteen times more in debt than Britain That makes sense seeing how the U.S. is roughly 39 times larger than the U.K. Don't listen to everything you hear on the radio. Thomas Jefferson Quote of the day ... "The man who reads nothing at all is better than educated than the man who reads nothing but newspapers." It's not so much about do I read or not lol I am fully aware of the economical climate more than some of you yanks! I understand that the dollar (I was going to use a capital D, but then realised how useless the dollar is in alot of european currencies, that even some eastern countries won't even use it to wipe their asses with) and thats saying something. Maybe, when you have wiped out your debts and have a mandatory currency, you will realise that the recovery of the $ is totally inconceivable. America is looking ahead to the hardest time the country will ever have. The radio people only wanted a discussion, similar to me being in the coffee house. It was never about the usefulness of information that you get in some books (which can also be misleading) I'm Always Careful About Which author I read, as many books ingrain their ideologies and therefore sound reason is subverted. The issue is not about black and white (that's unintelligent) so I dismiss that straight away that's a topic for the dumb amongst us who waddle their way through ignorance at the drop of a Fox News report! Once a currency is being devalued the chances of saving up to weather the storm is not a +/- it remains invalid, ommited. The only thing that one could hope for is to pray that when the new currency is/ (lets suggest that you do get a new currency) whether it be yen, deuchmark (spelling I know) or a mexican currency that unites your borders and see's a fleet of immigrants flocking into your country' then hopefully when that happens/if then we can talk about books and radio stations...to me alot of these so called books and radio stations are there to dumb down society. PAH! Though the UK is small the pound has always been strong but greece is a recovering alcoholic and is seeing the Euro Doc to help it's progression. Is this the way of the blind too. (UK being forced into acceptance) Whether the English Language has been a help for the UK interms of economy, i'm not sure; but you guys have alot to thank the uk for, for enabling you to have alot of the success that you have pro created since 1798. The fleet of europeans that fled to your country to give you the constitution in its present state is something that you can be thankful for. As you, yourselves I am worried about the economy so that is why I mentioned it. Not political, just a concerned human being. Bless up Soldiers!
post edited by Dappa1 - 2011/07/25 05:13:22
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Mesh
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Re:The Dollar $
2011/07/25 13:44:07
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I read some interesting and yet disturbing info on George Soros.....
Platinum Gaming DAW: AsRock Z77 Overclock FormulaI7 3770k @ 4.5GHz : 16GB RAM G.Skill Ripjaws X 250GB OS SSD : 3TB HDD : 1TB Sample HDDWin 10 Pro x 64 : NH-D14 CPU Cooler HIS IceQ 2GB HD 7870Focusrite Scarlett 2i4The_Forum_Monkeys
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slartabartfast
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Re:The Dollar $
2011/07/25 14:06:25
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I understand that the dollar (I was going to use a capital D, but then realised how useless the dollar is in alot of european currencies, that even some eastern countries won't even use it to wipe their asses with) and thats saying something. Oh, the dollar. Well, certainly the credit-worthiness of the US government is not irrelevant to the value of the dollar, but it seems to be remarkably resilient. What most Americans seem never to have learned in secondary school (and many missed at college) is that, in a era of fiat money, the dollar has no intrinsic value at all. It is a commodity that is much less dependent on the promise of the US government to stand behind it, than it is on the price in goods and services that domestic, and, to a lesser extent foreign, consumers and speculators estimate it will bring. So a great many Americans have been completely befuddled by what the central bankers have called "quantitative easing." From a purely government view, printing (actually none of it is printed) more money so that it has less value is an ideal answer to the national debt. If 14 trillion dollars were to overnight be worth half as much, the debt could be effectively halved. As you seem to realize, for the holder of US dollar valuated savings, the effect is to empty his bank account. Inflation will have the same effect in the long run, especially as selected borrowers (banks in which you have "interest bearing" accounts) have decided there is no need to pay you for your money when they can get it free from the Fed. Still it never hurts to push things along a little with Fed policy. Taxing savings by devaluing the currency would be a pretty unpopular policy in a country where most of the citizens were not heavy net borrowers. But making it virtually impossible to park your money anywhere except equities has rescued a stock market that was clearly over-valued from a much deserved correction. To the people that matter, a raid on little people's savings is a small price to pay for a rising stock ticker, and to the rest of us, the fact that there is an economy left at all seems kind of reasonable. If the US were the only major nation with a crummy economy and a substantial government debt, the situation would be dire for the dollar, but you need to remember that money is traded in a competitive market. It is not like you can decide not to use money, and in many cases you can not even decide which currency to use. Try to pay your IRS assessment in Kwanza to see what I mean. Or your mortgage held by a US bank. So it is not so much that the dollar is intrinsically valuable, or that trust in the US fiscal policy is justified, as that it is better than most of the alternatives. In a choice of whether to eat a big plate of horse dung, cow dung or dog doo, the dollar still commands some respect. P. S. a little Tabasco helps.
post edited by slartabartfast - 2011/07/25 14:09:07
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dappa1
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Re:The Dollar $
2011/07/25 14:35:20
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Some respect, only when the heavies enforce it lol
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space_cowboy
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Re:The Dollar $
2011/07/25 14:40:31
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http://www.usdebtclock.org/ Look at that and tell me if it does or doesn't scare you. Debt of $46,611 per tax payer. $1.4 BB budget deficit. Unfunded future liabilities of over $1MM per tax payer. You cannot tax your way out of this. The only two ways out are (a) massive inflation so that the debt is devalued on nominal (ie after inflation) terms. That would kill whatever minor growth in economy. (b) cut cut cut. But cut cut cut means that the economy goes down for a while too. Remember GDP=C+I+G+X where C=consumption I=investment G=government spending X=Net exports So cut cut cut would temporarily hit C+G and likely drive down GDP. Interestingly that was the strategy that Reagan used after the Carter debacle to fix the economy. You had to create a recession first. But it did stop runaway inflation. Different set of issues this time. Just remember this If they create inflation to devalue the dollar, it does cut the real (not nominal) debt since it devalues with the collapse in the dollar. But since the US is a country of imports and since we have lost most manufacturing to other countries, I am not sure that the devaluation of the dollar really makes hard products that much more attractive in foreign countries. What are they going to buy? Boeings? Yeah. Cars - probably not. Trucks - yeah. What else do we really make here any more?
Some people call me Maurice SPLAT Pro lifetime, ADK 6 core 3.6Ghz with 32 GB RAM, SSD 1TB system drive, 3 3TB regular drives for samples, recordings and misc. Behringer X Touch, UAD Apollo Quad. 2 UAD2 Quads PCI (i think - inside the box whatever that is), Console 1. More guitars (40??) and synths (hard and soft) than talent. Zendrum!!!
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dappa1
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Re:The Dollar $
2011/07/25 14:49:15
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America have been campaigning with China! Now it's a major problem as their holding your market share!!! Only viable option is to declare bankruptcy!! Start all over again, bartering doesn't sound like a bad option until a currency is established that is viable and marketable...... aaaaaand offers trade incentives but that means you won't be able to do it yourselves...it would be similar to giving up your sovereignty and sharing the spoils with other nations. That would mean a one world government where you have equal partners. Now that ish sounds scary!!!!
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timidi
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Re:The Dollar $
2011/07/25 14:54:07
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The dollar's value is at the whim of the traders. It is (anymore) simply a bunch of squiggly lines on a chart. Sort of like a video game.
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dappa1
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Re:The Dollar $
2011/07/25 15:01:23
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Can you get the game on xbox?
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