Can the Second Coming of Paul Volcker Save the Dollar? (China's hand on the switch)

Financial Sense ^ | December 14, 2006 | Antal E. Fekete

[Petronski]

It means the economy has slowed by 61%

LOL

OMG, that's funny.

Please don't ever stop posting this crap.

[Toddsterpatriot]

the economy has slowed by 61%

BUY GOLD!!!

[GodGunsGuts]

I have already provided the proof, Toddster. What's your proof that the Clinton/Greenspan revisions make the CPI/GDP more accurate? I think it's funny that you are so completely pollyanish on the economy that you are even willing to rely on Slick Willie's changes to the CPI/GDP.

"As former Labor Secretary Bob Reich explained in his memoirs, the Clinton administration had found in its public polling that if the government inflated economic reporting, enough people would believe it to swing a close election. Accordingly, whatever integrity had survived in the economic reporting system disappeared during the Clinton years. Unemployment was redefined to eliminate five million discouraged workers and to lower the unemployment rate; methodologies were changed to reduce poverty reporting, to reduce reported CPI inflation, to inflate reported GDP growth, among others."

http://www.prudentbear.com/archive_comm_article.asp?category=Guest+Commentary&content_idx=35446

[GodGunsGuts]

No. I'm claiming that our GDP/economic growth shrank by 61% numbskull.

[Petronski]

...our GDP/economic growth shrank by 61% numbskull.

Just like some lying leftist claiming reductions in the rate of growth of medicare are mediscare cuts.

[Petronski]

BTW, I love your honesty re: starting to sign your posts "numbskull." It's a healthy new level of self-awareness.

[Thunder90]

Remember that the Russians are also dumping the dollar for the Euro.

[Thunder90]

Russia is also using the method that you described here, but in a different way. Russia actually uses Western funds to build its military. And, Russia and its sattelites are preparing to return to a Soviet command economy, per the latest oil seizure.

[GodGunsGuts]

Get lost 1TPedro. You are like a fly that is at most a nuisance, and easily brushed off. Although, I'm sure, given enough time, you will annoy just enough people to go from being merely brushed off to getting yourself swatted and crushed.

PS You still have yet to make a valid point (and back it up)...loser.

[Petronski]

Get lost 1TPedro.

Hmmm, let me think about that.

No.

PS You still have yet to make a valid point (and back it up)...loser.

You're so illiterate, you wouldn't understand a valid point if I carved it into a block of oak and used it to bash you over the head.

I must say, though, that although I liked it when you signed your posts "numbskull," I must admit that "loser" is an accurate self-identification for you too.

[Toddsterpatriot]

What's your proof that the Clinton/Greenspan revisions make the CPI/GDP more accurate?

Maybe the fact that 10 year Treasury rates are below what your goldbugs say the old CPI would be?

[Toddsterpatriot]

No. I'm claiming that our GDP/economic growth shrank by 61% numbskull.

Then you shouldn't have said "the economy has slowed by 61%". Idiot.

[nopardons]

bttt

[nopardons]

Glue, paint cans, Drano? :-)

[nopardons]

The DOW closed up a hair under 100 points, today and is at its HIGHEST average in the entire history of the market!

More Americans are invested in the market, today, than at ANY previous time in the history of our nation.

The unemployment numbers are also at record lows, for many years; as is the net worth of the populace.

Today, America's "poor" are living at least as well as the middle of the middle class did in the 1960s.

Ho, ho, ho........................:-)

[expat_panama]

"Production keeps contracting"  ==Where?             The signs of economic contraction are...

The article wasn't clear enough for anyone to know what exactly they meant by "production", so you were able to say that it meant anything from home sales to payroll numbers.  Politics is fun that way.

Those of us trying to earn a living in the business community can't let a bunch of politically motivated sales people tell us how to think.  What we call "industrial production" is something the fed adds up and makes available to all at this site.  Give it a try, the site's pretty user friendly.  I typed in 2000 into the year, clicked on "go" and got this:

Or you can see lots of other Fed stuff at this site.

[nopardons]

bttt

[groanup]

What do you think of this stupid article? And my post #15?

Just as you described it: stupid. One more idiot blaring collapse this and collapse that. No grasp of the big picture. Your post 15 adequately dropped each point into the appropriate trash bin.

Personally, I'm loaded down with US equities and intend to stay that way for the foreseeable future. The risk is in junk bonds right now because every fixed income money manager with a pulse is buying anything with junk yield and leveraging it, ignoring risk. (Did you see that Ford convertible deal the other day?) There is no yield in the world unless you own equities and IF those equities increase in value. There is a lot of cash everywhere and a lot of that money will find its way into the stock market. My crystal ball says stocks.

T. Boone Pickens says $100 bbl oil next year. Is he predicting hurricanes or mid-east turmoil? No, he is predicting booming worldwide economic activity. I would say 2007 equity returns will rival 2003. If I'm wrong then there is a surprise out there. What's the surprise? If I knew it wouldn't be a surprise.

[Toddsterpatriot]

Thanks. As you can see, production is lower every year than it was the year before.

Sorry, I was channeling Antal E. Fekete.

[expat_panama]

LOL!

Some people love the smoke and mirrors but let's face it, rocket science it ain't