Between a 1 and a 10, how big a disappointment is Obama to you?

[MacOne]

I don't trust them so why would I take their paper they tell me is worth something? At least with gold or silver it has global value and has held it's value for more than 6,000 years, paper has low value.

The paper is worth something, its US legal tender. And if you cant trust that, then how can you trust the politicians to maintain a gold standard when at the first sign of a recession they are going to be forced by public opinion to abandon it. So you either trust them or you dont.

If you dont trust them, Can I have all your US dollars?

 

[86 jordan]

The paper is worth something, its US legal tender. And if you cant trust that, then how can you trust the politicians to maintain a gold standard when at the first sign of a recession they are going to be forced by public opinion to abandon it. So you either trust them or you dont.

If you dont trust them, Can I have all your US dollars?

I don't trust them, but have to roll with this system. If it implodes like similar systems have, is where it gets interesting. I will gladly give you my dollars for gold, platinum, or silver.

Ever read about the Weimar republic? That paper did very good, or the former USSR, that paper did good as well. You just think it will never happen here and I hope your right.

 

[shootemwon]

McDonalds introduces the dollor menu. Get a McChicken for a piece of paper that the government says has value. that's what we do now and some of us like you love it and makes us all slaves so they can control everything

So you'd rather pay with socks than legal tender?

 

[MacOne]

I don't trust them, but have to roll with this system. If it implodes like similar systems have, is where it gets interesting. I will gladly give you my dollars for gold, platinum, or silver.

Ever read about the Weimar republic? That paper did very good, or the former USSR, that paper did good as well. You just think it will never happen here and I hope your right.

Ever read about - um - just about every country in the world that was on a gold standard at one point or another?

Yeah, that ended well didnt it

 

[86 jordan]

Ever read about - um - just about every country in the world that was on a gold standard at one point or another?

Yeah, that ended well didnt it

Examples please?

 

[MacOne]

Examples please?

http://en.wikipedia.org/wiki/United_States

 

[tdoto88]

I disagree with Keynes and the whole thought of spending your way out of debt. Government is how we got here, IE doing away with the Glass–Steagall Act is just one of many actions that got us here. So I dont expect them to fix the problem they create while their greedy and incompetent. I don’t expect the government to do much right. Look at Katrina, 2 wars, now a oil spill ect, and tell me what government is good at doing. Also I will admit, Im in the minority on this issue so in 2008 we have been doing it the governments way with bail outs and stimulus packages. However what happens when that money dries up? Well see, I WANT TO BE WRONG. Also is there a figure of government debt we will reach where GDP cant pay it back because of too much debt?

Youre misinterpreting Keynes.. He wasnt talking about spending our way out of debt.. he was talking about how to keep the country afloat when the private sector it on the verge of collapsing. But I will ask this.. youre the president of the US & your economic advisers tell you the country is in a recession (ie the private sector is on the verge of imploding on itself) will you spend $$ to keep it afloat or just let it be?

Its not government per-say more than it is political ideology which got us into our current situation(oil spill,2 wars) /past situations (deregulation of financial markets).. Dont get it twisted I do believe the govt is fuckin up on A LOT of issues but it can redeem itself if the right people come into office. Im going to have to disagree with you on the stance of the govt tho bc I do believe it is on the sovereigns part to make sure the country is the best it can possibly be (in terms of healthcare/economic stability/national protection) which cannot be meet by private enterprise.

Bout your GDP question... as long as the govt pays its interest on the bonds which finance its spending, paying back the principle isnt a big deal.. Theoretically debtors (China, Japan, etc) could dump our debt tomorrow if they felt like it, HOWEVER who do you think it will hurt more?? We need our currency to devalue at times like this.. Chinas economy will slow WAAAY the fuck down if the yuan appreciates (especially since it is an export based economy).. Both countries will get hurt but in the long-run the US will still come out in decent shape.

 

[Soulljjah]

to quickly interject inflation wont be a problem in the near future... deflation will be.. the inflation rate is barely 1% right now.....

I'm talking about in the future....of course there's no inflation right now, we barely had any last year. Recovery takes a lot of time.

 

[MacOne]

LOL @ "I disagree with Keynes". Nigga, you took high school economics. Who the fuck gave you the audacity to disagree with one of the 20th century's greatest thinkers?

 

[86 jordan]

http://en.wikipedia.org/wiki/United_States

So the gold standard brought the United States down? whatever man, Nixon dropped the gold standard, and we know what history thinks about Nixon. Bottom line is I hope the dollar never implodes... If it does were fucked.

 

[tdoto88]

I'm talking about in the future....of course there's no inflation right now, we barely had any last year. Recovery takes a lot of time.

Im also talking about the future...... the way things are going we are looking alot like Japan in the 90s

 

[86 jordan]

my mind , only 1 man was perfect ever and it wasn't Keynes

 

[shootemwon]

So the gold standard brought the United States down? whatever man, Nixon dropped the gold standard, and we know what history thinks about Nixon. Bottom line is I hope the dollar never implodes... If it does were fucked.

What does history think about Nixon? Last time I checked, most historians believe Nixon would be remembered as one of the great presidents of the 20th century if not for Watergate. Are you saying Watergate is related to dropping the Gold Standard?

 

[CMac]

All of these Obama type threads be the whackest to me, he came into office with our countries economy in a mess. It isn't fair to really rate him seriously, plus he hasn't been in office not even a full term yet, let the nigga work it out some more.

 

[MacOne]

So the gold standard brought the United States down? whatever man, Nixon dropped the gold standard, and we know what history thinks about Nixon. Bottom line is I hope the dollar never implodes... If it does were fucked.

No, but we had the gold standard and it didnt last because the politicians you dont trust wont adhere to it. I dont recall "paper" ever bringing the United States down. If anything, its the gold standard which made the Great Depression worse, when the Fed had to honor it and raise interest rates during disastorous economic times. Nixon dropped the gold standard because like most politicians he has an obligation to promoting economic prosperity and the gold standard limits the governments ability to carry out that mandate. Any politician will do the same thing Nixon did, so I'm wondering why, since youre so mistrustful of politicians, you are willing to trust them to adhere to a gold standard

 

[86 jordan]

What does history think about Nixon? Last time I checked, most historians believe Nixon would be remembered as one of the great presidents of the 20th century if not for Watergate. Are you saying Watergate is related to dropping the Gold Standard?

if not for Watergate

Well If, In's or excuses. I don't rank Nixon high and the historians I read don't think much of him before Watergate, if he's your standard for a good president other then Watergate then so be it.

 

[86 jordan]

No, but we had the gold standard and it didnt last because the politicians you dont trust wont adhere to it. I dont recall "paper" ever bringing the United States down. If anything, its the gold standard which made the Great Depression worse, when the Fed had to honor it and raise interest rates during disastorous economic times. Nixon dropped the gold standard because like most politicians he has an obligation to promoting economic prosperity and the gold standard limits the governments ability to carry out that mandate. Any politician will do the same thing Nixon did, so I'm wondering why, since youre so mistrustful of politicians, you are willing to trust them to adhere to a gold standard

"gold standard which made the Great Depression worse"
That's a long discussion that I'm not getting into tonight, but if you believe that, ok

Would I trade paper with the value being stated by the crooks or trade gold with crooks? I take gold, or precious metals. So since I'm "so mistrustful of politicians" why do you trust them?

 

[MacOne]

"gold standard which made the Great Depression worse"

That's a long discussion that I'm not getting into tonight, but if you believe that, ok

Would I trade paper with the value being stated by the crooks or trade gold with crooks? I take gold, or precious metals. So since I'm "so mistrustful of politicians" why do you trust them?

I dont trust politicians with our money supply. Politicians aren't in charge of the Federal Reserve

Did they not teach you about the Great Depression in your high school course? A major contributor to the Great Depression was the Fed's inability to conduct monetary policy

 

[Soulljjah]

@86jordan do NOT insult my intelligence. First of all, I'm not a Liberal, and second, you wrote a titangraph full of bullshit, you disagree with the expert economist at which FDR patterned his government spending on, you then dare to take this discussion to elementary lows because YOU didn't get an education higher than high school? I know about the WWII factor, okay? And I have plenty education. So Don't. Anyway there were many factors leading up to the recovery and WWII preparation was one of them, but Keynesian economics is what fueled the New Deal. Obama is trying to apttern off of this. We slipped back into recession because we weren't following Keynes' advice, but instead tried to please the Republicans during that time. Once we stopped giving a fuck about their sorry, economy-ignorant asses we were back on our toes. This has occured throughout history. When will the Republicans learn that Classical is not the way?

Like I've stated over and over again, fiscal economics is the route to eventual recovery, which leads to inflation in the long future which can then in turn give us a surplus. You can pay off the debt with this, and that's why he's brilliant. I don't give a damn about what the polls say, because unlike you I look at history and not what pro-legalization-of-weed, economy-stupid Americans & Conservatives have to say. They don't determine his intelligence. This is why we need a Liberal in office in time of recession. A Republican does not understand the way an economy works and thus will leave this country assed-out.

 

[86 jordan]

"Politicians aren't in charge of the Federal Reserve"

True, however when you have The Secretary or Treasury reporting to the President and Fed Chairman appointed by the President, could a conflict of interest occur?

Do you know the history on Timothy Geithner , Hank Paulson, The New York Federal Reserve and Goldman Sachs?

Could the Federal Reserve, which is private, have a rotation of positions in government? Between politicians, lobbyist, and those private banks in the Federal Reserve System working together could they be for our best interest?

Is the current system ok to you, or broke, and are these legit questions?

If the current system is ok to you then we agree to disagree, if not then what is your position, since you and other smarts on this forum assume I know everything from High School. I answered your questions now answer mine if we are to exchange in this discussion.