The slippery slope of the US economy - 07 Jun 08

[LIONLIGHTT]

President Lula said on television and in newspapers that he was happy

because the United States of America has economic problems, he is a political physiologist and a bad person. I do not think so, USA is a great country, and has very good people. God bless the United States of America and the American people. I am (half) brazilian and do not live in the U.S.A.

[darladodo1]

[] The Unbelievers spend their wealth to hinder (men) from the path of Allah, and so will they continue to spend; but in the end they will have (only) regrets and sighs; at length they will be overcome

[GODDAMEFAGS]

You cant just dig gold mines in Alaska and make pipelines running throw Canada to the states and say the economy will get better.

[saveurhomenow]

Don't Get Foreclosed On Modify Your Loan go to homesaver(DOT)tk

[jaif4]

I think the American public is hopelessly delusional and totally doomed to end up destroying its own foundation, take for example war on terrorism that is the most absurd shit I have ever heard, it was only designed to give Bush and Chaney an open ended wars, to wage wars with out the UN and the delusional public chanted USA USA

Never understanding there is a connection between WARS you WAGE and your Economy.

Well delusional public welcome to war time Economy,feel free to chant USA.

[monakhovm]

Very well said.

[krayzgerman]

Einstein was right, human stupidity is infinite.

[yahoovisitor]

The period of 6-18 months for the people to learn the harmful basics seems a joke. As majority of US citizens is educated & aware of the economical crisis. Cheap waged laborers are due to growing global population in search of food. But creating joblessness in USA in search of cheap foreign labor is not the answer. It will burst the economy balloon being patched. The interest rates may be revised to the applicable level. But creating disharmony or joblessness doesnt solve the economical decline

[yahoovisitor]

Al-Qaedas head Osama Bin Laden votes for McCain to win the US Presidential elections. He expressed his views on a local TV while giving a glimpse of the book hes writing on Al-Qaedas struggle. He declared Bush govt a source of their global publicity though in a negative style. Even then he favored McCain over Obama to win the US elections & Bush policies to carry on. For that would enable him & his group to destroy US economy more easily & destroy the status of USA as a so called super power.

[dolde]

Come now, you rich, weep and howl for your miseries that are coming upon you! Your riches are corrupted, and your garments are moth-eaten.

[procommenter]

The Canal Zone was under a 99-yr.-lease in '36. John McCain was born w/dual citizenship. He's a citizen by blood of the U.S. & a Panamanian citizen by birth. What if McCain's parents were civilians & had made an emergency landing on a U.S. military base to give birth to a child? Would McCain still be eligible to serve as the U.S.'s Chief Magistrate? Why did the framers have in mind? Why would they specifically, & exclusively, apply "natural born" as a condition to the presidency & no other ofc.?

[11001010110]

I was the only one on YouTube that predicted September 29th over 400 days ago.

[Darusdei]

if american economy collapses it would affect pretty badly everywhere :(

[RUSSIAisPRIMITIV]

i fail to see why this matters we are like still several trillion from being passed by any country.

[Freakymaze]

yeah but alot of people are losing their property, and jobs. And actually we've slid past several small countrys on the econmic scale.

[RUSSIAisPRIMITIV]

name one coutnry that has a GDP of over 13 trillion a year

[Freakymaze]

i'm not saying "debt wise" moron. I'm saying Economy"

[glup2glup]

What happens with america

Remove spaces and read

w w w . europe2020 . org / spip . php ? article 403 & lang = en

[southdakota1001]

Do we have an approximate time frame/date for the "collapse" to occur?

[mikebtko]

6/28/08 Fortis expects a complete collapse of the US financial markets within a few days to a week. According to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. "We have been saved just in time. The situation in the US is much worse than we thought", says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US."

[CliffPotts]

You are probably right in this assessment. Your timing may be off, but we are heading that direction.

[essai75]

The hiden reason of the war

Read this,remove space

w w w . europe2020 . org / spip . php ?article 403 & lang = en

[sskumarz]

Americans should know better, all of this is being staged.

[Stan1208]

America is the greatest country of all times. Our economy is awsome. It will always be. We have a very high standard of living.

Long live America!!

[essai75]

LOL!

[joeheitz22]

Long Live America

[pklfsh]

first of aLL u need to open yer eyes! then you need to bend over and kiss yer ass goodbye! cos the dollar is going to collapse soon!!

[KJMachiavelli]

America is the most free country of all time, and it is the people who make it great.

[summer4autumn]

For your own sake, you had better get your head out of your ass, you brainwashed moron!

[ruanrushedin]

What a critical election this is indeed.

[stonerj0e]

critical election? when black muslim obama gets into the whitehouse, just get ready for some real critical times!

[dustynbones]

DUMP THE REPUBLICANS!

[CIDaily]

Yes I can even summarise Obama's plans:

1) Provide better reglation of credit card companies and mortgage companies.

2) Create fund from taxpayer dollars to help those who have a mortgage that is too big for them to handle.

3) Repeal Bush tax cuts.

4) Increase taxes on energy.

5) Increase long-term capital gains tax from 15% to 28%

[KJMachiavelli]

That's all we need:

1) define better, and explain how the mortgage crisis is a function of defective regulation instead of an inflationary monetary policy

2) 'taxpayer dollars' are everyones dollars dude. I rent, i barely make ends meet. now i have to support the neighbors mortgage?

3) ...and pay higher taxes (presumably to fund the war)?

4) what does this do exactly?

5) ...encourage reinvestment in corporations instead of private-equity or small business investment.

OBAMA: GOOD INTENTIONS!

[ManufacturedThoughts]

Our INFLATION is ARTIFICIAL. It all has to do with monetary economics and the rate of M3 Growth. M3 growth should almost match economic growth in a economy. The US money supply growth is around 15%, and our economic growth is no more than 2%. Our rate of inflation is calculated from % of M3 growth minus economic growth 15-2=13% INFLATION. Using the Rule of 72 to see how fast things double we divide 72/13= 5.5 years. At the present course in 5.5 years all consumer good will double in price. But?

[KJMachiavelli]

I like your reasoning, but where did you get your numbers?

[ManufacturedThoughts]

Since the US Federal Reserve no longer posts the M3 levels you have to get the information from shadowstats (dot) com. I even wrote an old econ professor asking where is the best place to find M3 rates and he asked around and said shadowstats. I asked him about shadowstats and I guess it is one of the only places you can get the information. Since the Federal Reserve is Privately owned it does not have to issue M3 growth rates if it does not want to. It is a private bank.

[ManufacturedThoughts]

You also have to remember that Consumer Price Index CPI is calculated differently today than it was during the Reagan and Carter years. The federal government played an Enron and cooked the books and calculates CPI differently to make the inflationary rate lower than it really is. CPI is a joke, and that is what the spin Master Ben Bernanke will use in his public speeches to down play the real rate of inflation with a fake on using CPI.

[bulluni]

The Saudis, Jazeera, Islamic fundamentalists, isn't there anyone that does not have their heads up their ass? There is one main group that should be responsible for our fucked up high living costs....Bush and his cronies...600billion in Iraq i wonder what that could of done to the 5.5 % mentioned....

[Renegen1]

AlJazeera for once get your facts straight, economist themselves have said that the 5.5% rate might have been bad seasonality, because the actual numbers of job losses were only -50,000, less than early in the year.

[dustynbones]

The price of fuel has increased 10x faster than anytime in the history of fuel being sold in the USA, since kerosene and whale blubber were sold for lanterns and heaters.

[speakupforjustice]

I welcome a recession. It is not the end of the world or the end of the US. Our economy is set up so that it swings in a volatile way from peak to trough from decade to decade. Logically, a recession is great for the stock market (after the prices bottom out of course, which I think is close to it). That is why when the stocks are at an all time low, it's a great buying opportunity. Now as for high gas prices, I don't see that going down. We need to invest in renewable energy! America can adapt!

[Gollywog]

i also welcome a recession because it will be the end of the US superpower economically and China will take the top spot in the 21st century. The US relies on greed to keep their economy going but it's going to be their downfall

[abcw828]

History is a succession of stories about empires rising & falling. It seems the US empire started rising in 1898, rose throghout the 20th century, peaked after defeating the Soviet Union & is the downfall this decade. Its not fortunate or unfortunate; its just how history works.

[speakupforjustice]

Didn't the US have an economic slowdown during the Great Depression?? I don't remember that causing a "fall" in the US "empire", but maybe I'm wrong. Don't count the US out just yet...

[Tereeb11]

The best news ever, YES GO DOWN US economy!!!

[speakupforjustice]

not gonna happen.. but what I do see happening is the end of OPECs grip on the world, and the end of oil being an energy source. What will happen to the Middle East when their Black Gold runs out? Smart countries like the Emirates will do fine because they heavily invested oil money into infrastructure, industry, and their people. I wish I could say the same thing for the Saudis.

[Tereeb11]

The best news ever, YES GO DOWN US economy!!!

[Ogmios00]

Fuck you, how can you wish for the economy of a world power of which many world countries rely on to go down? If you have a problem with a government, with a history, or with an image of a country thats all well and god but if it's economy falls depending on the size of that country a lot of people will be affected.

[Tereeb11]

Ogmios00

It is time for the US empire to collapse. When you have broken economy, your asses will stay in the US and world will be safe from any intervention.

I watch this video ten times and I am not satisfied yet, isn't nice?

[super8hogan]

Tereeb11, we'll go down but we'll take plenty of your people with us, your country can't survive without us you dumb-ass. The Saudis were scared as shit over Iraq possible invasion in the early 1990's. The U.S. came to help your country because we need your oil, but when your oil is gone you'll be on your asses.

[Tereeb11]

super8hogan

My God you are the people who will be on their asses. Wait for four month, YOU WILL see $6-$8 per gallon. The oil won't vanish soon, but you(Americans) will see $10-$25 per gallon and you will be forced to return back to the donkeys.

So, be polite with us, so we can send our camels to you, alright.

[super8hogan]

Tereeb11, the only thing Saudi's export is terrorism and oil. Don't you think that if America wanted to take your oil we could?? Keep your Wahabi inspired terrorism. Better for Saudi Arabia that oil dont go that high. We talk softly but carry a big stick. Keep your donkeys, son. You'll need them.

[Tereeb11]

super8hogan

This is the last chance for you. I will change my mind if you make me mad again. Our camels and monkeys are very nice; they are clean interior. They have good qualities and can help you in bad condition especially in hot weather since global worming in coming, lol.

I forget to ask you, do you believe you won't see $15-$25 per gallon in next few years and do you believe that you can pay it.

Didn't I tell you , be polite???? OK

[super8hogan]

Tereeb11, I never doubted the quality of your camels and monkeys. I'm sure you have already checked to make sure the "interior" was clean. Dont you believe that once gasoline reaches $10 per gallon, which will not happen, America would be forced to take it from those that have it. It will not happen because the Saudi royal family would never let it get that bad.

[super8hogan]

The Saudi royals love their power, which they are hanging onto by a thread, and would never risk America's future. Without America, they would have already been deposed by their own people or some other country, like Iraq. Were not you scared when Iraq was knocking on your door in the early 90's and your country asked us for help?

[Tereeb11]

super8hogan

Since 90's Al-Qaeda attacks Saudi royals for letting the US participate in that war. Iraq was exhausted in Iran-Iraq war, and can be defeated easily. Osama told Saudi royals not to ask the US troop to come. He knew he can defeat Saddam as he did with Soviet Union.

----

Anyway, do you know the UK control 7 seas over the world and we barely see it in the map. AND it's time for the US to give another country a chance since your economy is broken and your currency worth garbage

[super8hogan]

Osama cannot defeat an invading army, never has. He defeated an army that already invaded using guerilla tactics. Those tactics work after the coutry have been invaded, plundered or set ablaze. So yes, Osama could defeat Iraq, but not before Saddam was waltzing in the Princes palace. As for the UK controlling 7 seas, I had no idea. We would love to give other countries a chance, but noone seems to be volunteering to take on the worlds problems.Who would you have in mind? Who could do what we do?

[ImperialEmpire]

Why don't any of these videos about the US economy ever state the truth? The economy is still growing and is still far larger than everybody elses. Even our debt is still lower, percentage wise, then every other G20 country.

[giroguy22]

are you on drugs??? the dow for example has a 52 week high of 14,200....growing means making ground...your struggling to keep the dow at 12,000...theres hasnt been any growth just smoke and mirrors to keep it at an acceptable state! please fucking wake up

[ImperialEmpire]

You judge the economy by the stock market? LOL. Shut up now. Economies are based on your GDP and the US GDP is the highest in the world and is going to grow about 4% this year in total, so it's slower than usual but it's GROWING. Please fucking wake up. Dumb shit.

[Stan1208]

I am not on drugs.

[KJMachiavelli]

The fact remains that although the monetary supply has been inflated and that is hurting certain sectors, the economy remains robust.

[Freedomfighterrr]

'downturn' why doesnt he just say recession? this is good ,...i hope the USA economy fails and the middle east becomes the world power..its time for us to reign u ppl,

[flyingbird0214]

It isn't a recession because it doesn't fit the definition of recession, since some sectors of the economy are still growing. The US economy is the largest economy of the world. It is still three times bigger than the economy of Japan and four times bigger than the economies of German and China. Even if they went into a depression, like the one in the 1930, it will still be the largest economy of the world.

[flyingbird0214]

Since people in the Middle East are too fixed in religion and oil, they will have to overcome their fundamentalism, embrace science and progress, and leave the Middle Ages behind before they can even grow enough to match Singapore or Taiwan. They don't produce anything of importance besides oil. They will have to diversified their economy and bring their people living standard up, like China is doing before even considering any type power. They had their time when Europe was in the Dark Ages.

[billvancouver72]

when the U.S. fiat dollar collapses, so will the U.S. economy and it's GDP as the GDP is measured in U.S. dollars - the domestic currencies' relative strength against other currencies determines the relative "size" or "value" of output - you certainly have not studied micro or macro economics :)

[flyingbird0214]

Neither have you. All those countries in the Middle East as well as China, Japan, and most European countries keep their reserves in US dollars. If the dollars collapses so will their reserves. Their reserves and sovereign funds will be worthless, taking the world economy in a downward spiral. At the end of this economic collapse the US economy will still be the largest economy, reduced like all other economies, but the largest. Hate of the US doesn't change economic and financial principles.

[super8hogan]

you speak the truth flyingbird0214, but these narrow minded people cant understand it because their mind is clouded with fundamentalist ideas that are out of date. They havnt ruled shit since middle ages.

[flyingbird0214]

Do you really think any of the major players in the international economic field wants the US dollar to collapse? The US is the largest consumer. If anything, China, Europe, Canada, and Japan want the US consumer to be keep shopping. India, China, and other emerging economies can supply as many consumers, with the same purchase parity, as the US does today. Where are these consumers supposed to come from South America or Africa? If the dollar collapses, so will the world industrial production.

[xxx12345yyy]

Consumers are everywhere. Africa is full of them, they just don't have credit cards. What we need are savers and producers, that is how wealth is build.

[flyingbird0214]

Africa is also full of people with no income and countries with no means of production. Africans can afford industrial products. The Chinese, the Europeans, and the rest of all major industrial producers know it. African countries need to develop their infrastructure and deal with the HIV epidemic, as high as 40% in Botswana, before thinking of increasing living standards and consumption of luxurious and, even, regular goods.

[flyingbird0214]

I didn't only study macro and micro economics, I also study finance and investment. :)

[Beatleha]

Yes, they do want the Dollar to collapse. That's why they are printing the new currency in Denver as we speak. It's called the Amero. Maybe you might think I'm full of shit. But then again the Amero is trading in the Markets.

All of the Central Banking Elites are in concert with each other to bring down the dollar, and destroy American Sovereignty, to form NAU. The dollar peg for oil is on thin ice, as those countries are currently considering using the Euro instead.

[flyingbird0214]

I haven't found a single place where this currency is been traded today. I know some of Ron Paul supporters believe that the US is about to lose its sovereignty, but that's not happening anytime soon. A single North American currency would be unconstitutional under the current U.S. constitution under Article 1, Section 8; which states that the United States Congress has the right to: "coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures."

[Beatleha]

YouTube has a CNN report about the Amero trading in the market... so you don't have to look very far for that info

As for anymore of your ill informed propaganda... check out this link... usavsus(dot)info add the 3 w's to the beginning

[Beatleha]

Now. if you don't believe any f that, that's fine... But let me tell you, I am a Internationally Recognized American Sovereign immune to all codes, regulations, and statutes, as well as all federal and state income taxes, because I have a signed APOSTILLE from the Secretary of State, of California, which turned my filings into international law...

[Beatleha]

I don't have a law degree, but I certainly know Civics...

[barbarossa0067]

The Constitution also says that war is illegal without a declaration by congress. But we have been in Iraq, Vietnam, and Korea, not to mention many others without any such declaration. ;D Just a friendly note. Last week, I was prevented from ever talking about a certain American politician again, because he plunked down $1000 and the judge sided with him. He didn't like what I was saying about him. So much for the first amendment and dozens of supreme court decisions on free speech.

[xxx12345yyy]

You are brainwashed. The US GDP is 70% consumer spending...that means people buying shit on credit. That is coming to an end along with our empire. Unfortunately, we are going to suffer through a very severe recession and quite possibly worse.

[flyingbird0214]

China has been financing this American shopping spree for almost a decade. Why would we want the US dollar and economy to collapse? As you said, the consumers in Africa don't have credit cards, but you forgot to mention that they don't have money either. The average income per capita of the all sub-Saharan countries, except for S.A., goes from less than 1/40 to 1/5 of the average American income per capita. Credit isn't bad, just a decision consumers make on opportunity cost and future spending.

[speakupforjustice]

good points flyingbird. Do you happen to know which sectors have the best growth potential in the near future?

[0urGaia]

flyingbird0214, US gdp growth in last 5 years has grown 10%, US dollar in last 5 years against euro has fallen 20%. You are not seeing growth, all you are seeing is extra printing of greenbacks. In fact US GDP 5 years ago was 1/3 of the world, today it is 1/4.

[ImperialEmpire]

Let's take what you said as fact, which some points can be disputed, mainly how you interpret that information, of course as there are more "emerging markets" more countries will increase their wealth, but "catching up" financially is not the same thing as the US "declining". What I find funny is that everyone says America is dying because they think we are all living in poverty, but they forget about the Great Depression. That too was supposed to be the death of America, yet here we are.

[Orion602]

wow oil up again.. looks like more fun to come :o)

[teemuruskeepaa]

Nah, this is not for war, it is because of war. Bush wanted to gain control over Middle East and he did that with false pretenses and with the expense of home economy. War ruins economies, but he just had to stretch it.

[xxx12345yyy]

Totally, it's going a lot higher. I bet gold hits 1200 before the year is over and 2000 before the end of 2009.