The Economy is fucked...the Dollar is Fucked::Its all Bushies & GOP Fault

We are near a major Recession....our once strong Dollar has been weakened....soon we will be paying much more for our goodies...making us poorer still...

And some of us still suck for the GOP and their BS?

Peeps....Wake up... the GOP has scammed us into thinking they can do the job.....

Don't suck for the GOP and their BS ....and watch for the Smear shit....

take them with us.

I think the Chinese are much smarter than that, they knew of the outsourcings, the credit bombs and other financial red lights, true they may get their hair mussed a bit, but I am willing to bet, they will weather the fall of the US economy much better than people think. We all are going to get screwed blued and tattooed, one way or another.

Comes to find out, the hard way, them dudes are cronies too...inept and clueless...

China holds over $1 trillion of US currency. That is over 1/4 of their entire GDP. If the dollar crashes, it will have a huge effect on China's economy. Factories pumping out goods for American markets and for American companies employ tens of millions of Chinese. If those companies suffer downturns, or the loss of value in the US dollar makes it too expensive to have a factory there, the US companies will just close shop and move to another low cost country (which could be back to the US...)

The banking system in China is also a mess, with banks rife with bad loans and bad debt that rivals our banks from the Roaring 20s.

Look at it this way - Japan's economy is about half of our economy in terms of GDP, but their problems in the mid 90s threatened the entire world - the US, Canada, Europe, China, etc.

Don't get me wrong - China is on the right path for the long-term, but they are a good 10-20 years away from not being severely hurt by a US downturn.

Ruining the economy may be the intention of the Republicans and Bush. We need to be prepared to provide alternatives to the public to the corporate solution of drastic privatization.

deliberately ruining the economy, too.

Does violent civil unrest also fit into their plans to bring about Armageddon?? Along with nuclear war and global warming-induced famine and disease? 'Cause it sure seems like it.

They went for Bush and dumped Gore and later, Kerry....WTF...go with Dufus and dump Brains....?

Its the GOP...they helped Dufus big time...

but it is about greed and maximizing profits and power for the Bushie Chicago Schoolers. And yes, the threat of violence does not deter this crowd. They've dealt with that before -- in Chile, in Argentina, just about everywhere they have forced their economic theories on hapless citizens. Please read the book. It is just amazing. The most incredible chapter I have read yet is the one on South Africa. Long before they rid their country of apartheid, the leaders of the ANC committed to a Freedom Charter which promised a fair economic policy. When the opportunity to negotiate the end of apartheid finally arrived, most of the ANC leaders focused on gaining political freedom and participation -- and left the negotiation of agreements concerning the economy up to "technicians."

As a result, while it appeared that the ANC had rid their country of apartheid, the post-apartheid government inherited the economic system including the obligation to pay the debts of the former government. Under what Naomi Klein refers to as "Chicago School orthodoxy," the same corporate interests that controlled the economy under apartheid continue to dominate post-apartheid. Here are the sad results per Naomi Klein (page 215 of The Shock Doctrine):

"Since 1994, the year the ANC took power, the number of people living on less than $1 a day has doubled, from 2 million to 4 million in 2006.
Between 1991 and 2002, the unemployment rate for black South Africans more than doubled, from 23 percent to 48 percent.
Of South Africa's 35 million black citizens, only five thousand earn more than $60,000 per year. The number of whites in that income bracket is twenty times higher, and many earn far more than that amount.
The ANC government has built 1.8 million homes, but in the meantime 2 million people have lost their homes.
Close to 1 million people have been evicted from farms in the first decade of democracy.
Such evictions have meant that the number of shack dwellers has grown by 50 percent. In 2006, more than one in four South Africans lived in shacks located in informal shantytowns, many without running water or electricity."

Klein's book is fully footnoted, but I have not had a chance to look at her secondary sources.

As I read the book (have not finished it), I gain a different understanding of the motives behind the Bush administration's allowing the outsourcing of our corporations and the middle class jobs (a trend started under Reagan and continued by Bill Clinton), driving America into debt and permitting the dollar to decline so precipitously. Bush knows that the next president will be bound by the trade and loan agreements of the current administration. The only way to rescue our ruined economy, to save the precious stock market, we will be told, is to sell off federal assets --- our national parks -- our technology -- our natural resources -- everything we have. It will all be up for sale. Although the prices will be low, the only buyers will be the mega-corporations and the extremely wealthy who have benefited from the Bush tax cuts for the rich and who therefore have large fortunes ready to "invest" in a good opportunity. This is not incompetence. This is the plan, the well structured strategy of the Bushies.

Remember how the S&L crisis was brought into being and how it ended in big banks buying out the relatively small S&Ls at fire-sale prices. Well, that was nothing compared to the crisis that we will face when Bush leaves office. The worse the failures of the Bush administration, the higher the profits of his friends once the next president has to sell the nation's way out of the inevitable economic catastrophe.

This is why I am so opposed to a Hillary Clinton candidacy for our party. She may not admit it, or even realize it, but she will be the perfect corporate tool. Bill was easily manipulated by Greenspan. But his cooperation with the right on economic issues was nothing compared to how Hillary will cave when faced with the financial chaos after she is sworn in.

That is why I support Edwards. He is the only candidate who sees through the game the right-wing corporate crew are playing. He has watched their moves for many years -- in courtrooms and in the secret settlement negotiations that follow the courtroom drama. He knows how to read the small print, how to anticipate and counter each corporate tactic. We really need Edwards for president.

It's Edwards or misery in my view. Edwards, ironically, is the only candidate who can save the free enterprise system that our Founding Father intended us to enjoy -- the free enterprise that protects the existence of the farmers, the craftsmen, the inventors, the small businesses, the ordinary workers, the elderly, the children, the hospitals, the schools, the churches. He is the only candidate who has the wisdom of a Roosevelt and who will navigate us through the difficult economic and political seas that await us when Bush leaves office.

Sorry to be so aggressive and "fanatical" about this. But even if we "win" with one of the other candidates, say Hillary, we will lose the economic battle, because no candidate other than Edwards knows how the mega-corporations play their games. I firmly believe, based on his plans and message, that Edwards is the only one who "gets it."

submit solutions and answers.....or, run the Dept....

The coming economic collapse started with the anti-unionism of Nixon and the 'supply side' policies of Reagan. Bush is just the extreme outcome.

And ... sad to say, we are all somewhat responsible, too. Americans for a generation have loved cheap, easy credit; Americans have engaged in excessive consumer and materialism.

It was all going to end someday, and that day may be dawning now.

You are right... it started with Nixon, however Reagan seemed to be the one who really pushed us all over the "top". Since then, we have been circling a slow drain downward. Wages stagnate, rich pay less taxes and inflation goes up and the dollar goes down. Was this all by design?

“My goal is to cut government in half … to get it down to the size where we can drown it in the bathtub.” – Grover Norquist

I'd say that was an omission to a conspiracy of a high crime and possibly treason.

His insights on the various events happening right now and/or very soon were painting a bleak picture. It was alarming and sounded like it was imminent (or could be). I need to find it and listen again because I wasn't able to hear the entire thing.

...over on the board that shall not be mentioned. They laugh and joke about it for a few posts, saying "So what, it's good for tourism" and that it's all just a bunch of DU hysteria...until one of them points out that the tanking dollar is pretty serious...so they dismiss him, too, and say lots of "Yeah, buts..." One tries to explain how bad it is because the dollar is almost on par with the Canadian dollar...hey, hint you extremist freeps, the Canadian dollar is worth considerably MORE than the US dollar now. Still think it's funny?

What a bunch of stupid ignorant fucks.

.

I even got crap for trying to sell my house. Now it pays to keep it, as my debt is lower than anything I could hope to rent even after a continued free fall.

Anyway, the ECONOMICS forum is interesting as always;
http://www.pbs.org/now/shows/234/federal-deficit.html

Canadian Maples at Kitco.com that are a touch more pure.
They post the current prices too.

eBay has folks selling too, but you'd have to trust the 100% feedback history.

It's where I buy my gold and silver. Check out the "today's wholesale lots" for some bargains.

www.apmex.com

and no, I do not work for them, nor do I have any financial stake in the company. I just like to pass along good info when I can. :hi:

Also, you can put gold and silver into an ira, with some restrictions. Google it. If you are leaving a company as I did two years ago, I converted all my company stock to a gold bullion ira. YMMV.

indefinitely, we are a much smaller economy as compared to the US and whenever the US has had a recession eventually Canada has followed downward. I also think that the US dollar will remain the reserve currency for the foreseeable future.

are not my friends.

Corporatists took everything. Media, judiciary, both parties, squashed any 3rd party chance, all 3 branches, government bureaucracy.

ad infinitum

His "numbers were off" because nobody predicted that even the dittoheads were wanting BushCo stopped. I bet they're ready this time. And we hear crickets in the Democratic majority about assuring our votes next election.
Sure would be nice to have an opposition party, I always say.

Iran.

Also, re money and what we might do, watch this: http://www.informationclearinghouse.info/article18205.htm

he's ever been part & parcel of; bush is a failure plain & simple

Er... in China, that is, where the yuan is pegged to the $USD.

Bush hired a bunch of crappy administrators...didn't get the Best...instead, went partisan and crony route....now we know the difference..

The GOP went along with all his policies...thus approving of this blunder....Greed was paramount....

America still hasn't learned enough yet...they still considering voting for some Pubs.

What does it take???

It's been tied to a bundle of currencies for a few years now and the US dollar has been slowing depreciating against the yuan. In 2004-5, it was a bit over 8 per dollar. Now, it is 7.4 per dollar... and, if you go to the black market in China, you can probably get about 6 per dollar.

China abolishes yuan-dollar peg, adopts floating rate
By Xu Binglan (China Daily)
Updated: 2005-07-21 19:37

In a long-awaited but unexpected move, China yesterday announced that its currency will no longer be pegged to the US dollar.

From now on the renminbi, or yuan's, exchange rate will be made in reference to a basket of currencies, the People's Bank of China (PBOC) said, adding that it marked the introduction of "a more flexible mechanism for the exchange rate's formation."

The central bank did not specify what currencies would be in the basket.

The central bank strengthened the exchange rate of the renminbi to 8.11 to the dollar, up from 8.28, where it had been fixed for years, it said in a surprise announcement on the State television evening news.

http://www.chinadaily.cn/english/doc/2005-07/21/content_462216.htm

claiming that we were in a recession, which was a damn lie! The economy was still growing,albeit at a slower rate and it didn't slow down until after smirk stole his way into the WH. It really is about the economy now, stupid! So why can't or why won't our Democratic candidates showcase that? Seems like a winning bet too me! :shrug:

Come, we go drink....

:yourock:

the Dems who will have to deal with it.

The Repugs have an agenda. Globalization for the Multi-Corps To Hell with the US Middle Class.

:shrug: But again, they never get it, do they?

afford to fill either their pick-ups or their teeth.

and worked hard to destroy it.

paying taxes. taxes are only for the little people A popular mantra for the richest among us. Greed Pigs!

is a FUCKING DISASTER!!!!

America is nothing of the sort.

it is on the brink of financial collapse. Whoever becomes president will have to clean up this mess. I don't envy them. No matter what they do, there will be criticism. It is time to pay the piper, the tax cuts for the rich haven't translated into jobs and security for the middle and lower middle classes. The greedy investors/bankers/real estate agents/home owners brought us the collapse of the real estate market with further suffering to come as foreclosures double then treble...if the repugs re-gain the white house any hope left will have vanished.

Eventually, you have to wonder if they are doing it all deliberately, as they will be among the extremely rich capitalists left, who will have benefitted from it all, when the rest of us are ruined. Why implement one "free" trade agreement after another, with one country after another, when all the other countries still keep their restrictive tariffs against our products imported into their countries, unless the point is not to open "markets" up to products, but open them up to investments and other financial transactions, and the ability to hide money in unrelated countries under varying laws, etc.? Note, for example, the 13,000 or whatever it is, corporations using a small building in the Cayman Islands just to avoid U.S. law and taxes, and they are U.S. corporations pretending not to be.

Remember, capitalists made out like bandits, with very low prices, a huge pool of uncomplaining workers, and low wages/no benefits paid to them, during the Depression--as they always do. The Empire State Building, Chrysler Building, etc., were built during the Depression. It is a Golden Age, a golden opportunity, for rich capitalists very time--their market to control. Depressing and killing one currency--us, for example--allows them to move to Gold, another currency, or any other kind of investment, and take OUR security away from us. Defund the operations of Government, shift all their taxes onto us, reduce and finally kill their allegiance, and even their ties, to this country, and they can just roam the world, as a morphing investment cartel, bleeding resources dry, until they move on to the next thing, unimpeded by law or conscience--no soveriegn Nations, no borders, no rights. A totally uncivilized world at their disposal, all for sale.

it may be the one thing that may save American manufacturing at this point.

The GOP has crippled the economy, no doubt about it.

But, miraculously, the sky isn't falling yet!

The reversal of fortune on exports may spell good economic times under the next Democratic President.

don't plan any trips to Europe! or Canada for that matter!

Even the Indian Rupee is now 49-1...

:D

And Joe looks like he's in overdrive!

What is it about those Pub Values.....I thought they were supposed to be kinda like the Nelsons and Donna Reed.....but instead, we find out they are into shit and BJs a lot worse than the Dems...

More and more Pubs are being exposed as closet queens, etc....

and Joe.....Damn, if he going at it no end....

Pooch Porking 101 is all they need to study to become a top GOPer.

Bullshit 101 is required too I think.

If them perverted GOPer hypocrites make it through the pearly gates, we got no sweat what-so-ever!

REPEAL the frivolous tax cuts for the wealthy...who ever heard of tax cuts when the country is at WAR?

EDIT...people who cut taxes in a time of war WEAKEN the country and ENABLE the terrorists!

They have FUKT up everything they have touched in America and the world. Bush is the major world wide calamity of the year 2000, that the old wise ones had warned us about all them years. Bush is the bloodsucking "BUG!"

Opi, my friend...as a good investment "mentor" once said to me...for every person that loses a dollar, another one picks it up. The smart ones are those who keeps an eye on the downside when things are up and for an opportunity when times are bad.

A weakened dollar is not a bad thing in the long run. By making exports more expensive, it also makes domestic products more attractive and could create more jobs in the U.S. in the future. If its cheaper to make a Honda here, that's where they'll be made...same with TVs and puters and other goods. The drop means that outsourcing becomes less profitable and manufacturing goods here for sale abroad becomes a lot more attractive as well...it's the yin/yang of the global economy.

I think many Repugnicans, except for the die-hard kool-aid drinkers, now think their party in no longer the party of "fiscal responsibility"...they see the rising oil prices, higher consumer costs and messed up economy and know they've been scammed. That's one of the reasons Ron Paul has attracted so much noise in the Repugnican hive...and why many others now call themselves "Independent".

Remember the GOOP has a large constituency of pathological sociopaths who need to live in their parallel universe...where we're "winning" the war, the economy is doing great and all bad in the word is Clinton's fault. It'll be a pleasure to see those people get their asses kicked hard next year.

Cheers...

on America.....

Bush and his GOP had sold us out....

:wow:

The Decider in Chief ...namely Bush...has made many poor decisions over these past 7 years,,,,now...the effects are upon our asses and hardly anyone realizes we are being screwed....

Bush needs to be removed asap.....

IOW--WTH are Bush, Cheney, Rumsfeld, Wolfowitz, et al. DOING with their riches??
Is it enough to them that they have bankrupted us and cleaned out the U.S. Treasury?

Yeah, that one made no sense to me either when I saw it posted at DU

People are driving LOOKING for work.

Labor is but a tool for the Riech it seems...they use/abuse no end...