Economic Hiccup Approaching

Discussion in 'Politics & Current Events' started by Chicago1871, Nov 19, 2004.

  1. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    Greenspan: Appetite for Dollar to Dwindle
    If the House approves the $800 spending limit increase, and nothing is done to counter the drop in the dollar, the US could be looking down to barrel of a very nasty situation.
     
  2. monop_poly

    monop_poly Member

    May 17, 2002
    Chicago
    If he wanted to promote fiscal sanity, why didn't he state the obvious before the election?
     
  3. tcmahoney

    tcmahoney New Member

    Feb 14, 1999
    Metronatural
    Excuse me while I call this shot

    Prediction: By the time the Bush Administration is done, the Euro will be the world's reserve currency, not the dollar.
     
  4. Txtriathlete

    Txtriathlete Super Moderator
    Staff Member

    Aug 6, 2004
    The American Empire
    Re: Excuse me while I call this shot

    If we keep this up, that can very well happen.
     
  5. superdave

    superdave Member+

    Jul 14, 1999
    VB, VA
    Club:
    DC United
    Nat'l Team:
    United States
    I think that's right.

    Cuz he's a partisan hack. I thought everyone knows that?
     
  6. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    Greenspan is a pretty decent economist, but has just had a bitch of a time under Bushco. That isn't to say that dave isn't right. He isn't going to go out of his way to not his his boss reelected. It might have been the right thing to do, but I believe that he is part of the remaining "weight" keeping the US from totally tipping the scales in the wrong direction.
     
  7. BudWiser

    BudWiser New Member

    Jul 17, 2000
    Falls Church, VA
    He's not a decent economist IMO.

    He doesn't seem to really know (or at least be able to say) with clarity why this country's going downhill economically at 100mph which to me is just incredible ain't it???, given he's the chief economist.

    As bad as he is he oughta be fired IMO, but then again he's just a tool. So I'm not sure what kind of a difference that would make.
     
  8. BudWiser

    BudWiser New Member

    Jul 17, 2000
    Falls Church, VA
    Re: Excuse me while I call this shot

    :D

    I heard that there's a chance it'll be the rupee by 2020
     
  9. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    I had the opportunity to read some reports he wrote back during the Clinton years during my early college days and I'll be damned if some of his predictions weren't spot on. No way will he go down in history as a great economist, but wasn't that bad all things considered.
    Are you saying this in terms of the average American? What he talks about can be complicated, confusing stuff, which makes it understandable. Sometimes his reports get convoluted and start twisting, but as a whole they're pretty straighforward...or at least they were till he started declining about 4 years ago.

    This be true.
     
  10. tcmahoney

    tcmahoney New Member

    Feb 14, 1999
    Metronatural
    Re: Excuse me while I call this shot

    I'm not joking with that prediction. I'm serious about that.
     
  11. TheSlipperyOne

    TheSlipperyOne Member+

    Feb 29, 2000
    Denver
    Club:
    Arsenal FC
    What are you talking about??? Once our tax cuts become permanent this won't be a problem at all!!! :p
     
  12. BudWiser

    BudWiser New Member

    Jul 17, 2000
    Falls Church, VA
    Any American. I certainly don't expect the average American to understand the guy.
     
  13. BudWiser

    BudWiser New Member

    Jul 17, 2000
    Falls Church, VA
    Re: Excuse me while I call this shot

    Wow. Is that just you talking or is someone else out there saying the same thing?

    Pardon my ignorance I'm not up to speed on this monetary stuff......
     
  14. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    What he reports isn't really meant to be understood by most people, that's why the media is here; to interprate and report. His reports aren't made for news broadcasts, they're given to Senate Economic Committees who [sorta] understand them.
     
  15. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    Oh yea...almost forgot about the tax cuts. Don't worry people. All is well.
     
  16. tcmahoney

    tcmahoney New Member

    Feb 14, 1999
    Metronatural
    Re: Excuse me while I call this shot

    That's just my prediction, FWIW.

    But if you look at the way the dollar is sliding against the Euro, our unsustainable trade and budget deficits, the fact that the Bush Administration is determined to take on the rest of the world by itself with the apparent approval of most Americans, the rest of the world has plenty of reasons to turn its back on the dollar and go with the Euro.
     
  17. BudWiser

    BudWiser New Member

    Jul 17, 2000
    Falls Church, VA
    It would help if the guy would say something to the American public at some point to help get us out of this mess.

    I remember Greenspan talking to Congress about the job losses. He said it was "very disconcerting". One guy asked him what Americans should go to college for now that high-level jobs are being assaulted by foreign workers. His reply was basically "new kinds of jobs will show up, I just don't know where they are."

    To me, that ain't good enough. If he doesn't know, and he can't talk, he certainly can't effectively use his power to speak to the public or to congress.
     
  18. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    Re: Excuse me while I call this shot

    Bush Signs Debt Hike into Law. Well, they just gave him the new credit card...hope it's a Capital One: No Hassle.
     
  19. BudWiser

    BudWiser New Member

    Jul 17, 2000
    Falls Church, VA
    Re: Excuse me while I call this shot

    Understood. Could happen I suppose....
     
  20. monop_poly

    monop_poly Member

    May 17, 2002
    Chicago
    "I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said."

    -- Alan Greenspan

    http://en.thinkexist.com/quotes/alan_greenspan/
     
  21. BenReilly

    BenReilly New Member

    Apr 8, 2002
    :rolleyes:
     
  22. BudWiser

    BudWiser New Member

    Jul 17, 2000
    Falls Church, VA
    ...and your point is?? Or are you as confusing as Greenspan?? :D
     
  23. BudWiser

    BudWiser New Member

    Jul 17, 2000
    Falls Church, VA
    Case made, case won, case closed. :D
     
  24. tcmahoney

    tcmahoney New Member

    Feb 14, 1999
    Metronatural
    Re: Excuse me while I call this shot

    With our debt increasingly being bought up by foreigners, we're giving them the chance to take us down without firing a shot. Last I saw, China's central bank alone is holding $515 billion in dollars in one form or another.

    What if they start using that leverage to quietly tell us what to do?

    Oh, wait ...
     
  25. BenReilly

    BenReilly New Member

    Apr 8, 2002

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