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Things are not as bad as they seem . . . They are Worse, Much Worse
The Daily Reckoning, via 321 Gold ^ | January 16, 2003 | Richard Daughty (The Mogambo Guru)

Posted on 01/16/2003 4:10:07 PM PST by Cicero

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To: Carry_Okie; forester
"All we can do is our best. The rest is up to you-know-Who."

And He works is really mysterious ways, sometimes!!!

41 posted on 01/17/2003 8:31:53 AM PST by SierraWasp (A tag line is sorta like my stinger!!!)
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To: Cicero
Is that you, Willie Green?
42 posted on 01/17/2003 8:35:17 AM PST by Redleg Duke (Stir the pot...don't let anything settle to the bottom where the lawyers can feed off of it!)
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To: forester
Thanks for the flag..Excellent piece..I even notice the mandatory "this is not Bush's fault" post early on...but HE is the president so it is HIS

What hit men in the article was this quote

But bonds is a slam-dunk. The official rate of inflation is at 2.5%, and there are some people, mostly those whose custodians only allow them access to crayons and blunted scissors, who even believe that lowball figure. Not me, personally, you understand, but others do

Now the liar in chief had the method of caculating inflation changed so that the cost of living raises to workers and retirees would not be as "high"

Removed (if I remember correctly) were all those things we REALLY use daily, monthly..like gas , electric , phone and groceries..they were replace with the REAL things that cause inflation..cell phones , computers, TV's..etc)

It was an obvious coverup of REAL inflation and no move has been made by the republicans to change it..

Now to your issue. The drop in the home grown commodity market is just one more shift of the american dollar out and making us more dependent on and competing with the world market..

This my friend is the New World Order..

43 posted on 01/17/2003 8:53:59 AM PST by RnMomof7 (  )
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To: arkfreepdom
I guess I missed when the ruble was used as an international currency in any but their subject states.

It appears you miss the point- the only reason nobody is calling the USA on the carpet for our insolvency, is because the international unit of trade is the US dollar.

When the discussion starts to revolve around whether the US $ will stay as the medium of exchange, or whether it should be the ruble or the euro or anything else.... That will signal that "the end is near," at least with regard to the facade of continuing economic prosperity for the USA...

Like the USSR did, we are working with a house of cards- as that house becomes taller, it becomes inevitable that the base will collapse...

As we approach that time of economic collapse, the political leaders will keep declaring that all is fine, that we just need a few changes in one program or another and all will be well.... A political version of rearranging deck-chairs on the Titanic...

The signal that the ship is finally going down, will be when the discussion about whether the dollar should stay as the international unit of exchange... That will signal the end.

It's only a matter of time...

44 posted on 01/17/2003 10:34:08 AM PST by Capitalist Eric
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To: Capitalist Eric
You miss the point. Our economy is nowhere near as weak as virtually any in the world. Talk about insolvent....how about the EU or Japan, etc. Our debt is only a portion of our GNP...not a multiple as in other countries. We should do better but all is not lost.
45 posted on 01/17/2003 1:27:01 PM PST by arkfreepdom
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To: Cicero
After the currency swap, houses in the US could be cheap to foreign investors, and that could attract a lot of money into the US to buy houses at such bargains. Then foreigners would own the houses and rent them to us.

How will we come up with the rent money?

46 posted on 01/17/2003 1:39:18 PM PST by FITZ
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To: FITZ
If they buy all the houses then we can really increase the property taxes.
47 posted on 01/17/2003 1:54:25 PM PST by TBall
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To: TBall
Good idea and we won't have to worry about home repairs, we'll just call them when the roof is leaking.
48 posted on 01/17/2003 2:09:50 PM PST by FITZ
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To: Capitalist Eric
whether the dollar should stay as the international unit of exchange...

They've got nowhere else to go - that's not to say that we're not sinking (I don't know), but the "unit of exchange" concept is a broken seismograph and the US sinking into the ocean is more like Gondwanaland sinking than the Titanic.

49 posted on 01/17/2003 2:19:08 PM PST by Theophilus
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To: arkfreepdom
Our debt is only a portion of our GNP...

Yeah. A

$6 TRILLION

portion of debt...

Geez, how do you not understand the significance of this??? (((rolling eyes)))

50 posted on 01/17/2003 6:51:33 PM PST by Capitalist Eric
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To: Capitalist Eric
I said we could do better and think we should, but my point still stands. BTW, what portion of your income is your mortgage?
51 posted on 01/18/2003 2:42:40 PM PST by arkfreepdom
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