Why doesn’t the united states stop printing money?
United States can’t keep printing money to stabilize the economy
When the Chinese Communists have cut their national tax rate to stabilize their economy and the old Soviet Communists are warning President Obama not to make the same mistakes they did, you know something is very wrong in America. As the Federal Reserve, a private corporation, not a part of the Federal Government, continues to print more money with no assets to back it up, America is fast approaching hyper-inflation.
In doing this the IMF (International Monetary Fund) and many other international financial institutions are considering a move away from the US dollar as the currency of choice. As I mentioned before, the Chinese Communists are floating the notion that an international currency be created and the dollar should be abandoned. This would benefit the Chinese Communists in the long term. Not withstanding that China has cheap labor at their disposal is also a benefit, for their economy.
America did not come to this point in just three short months or eight short years. It has been coming since the 1970’s and no American Administration has engaged the problem with any real zeal and this includes the Obama Administration. The cap stone in this failure to engage is TARP (Troubled Assets Relief Program). This is old Soviet style governance, not American pragmatism of the past.
During the campaign Candidate Obama said he would support a spending cut across the board, however he signed an $800 billion dollar stimulus bill into law and presented a budget that would increase spending by $1 trillion over the next decade. It included an additional $250 billion “placeholder” for another financial bailout. Permanently expand the Federal Government by 3 percent. Raise taxes on all Americans by $1.4 trillion over the next decade.
Raise taxes for 3.2 million taxpayers by an average of $300.000 over the next decade. Leave permanent deficits averaging $600 billion even after the economy recovers. Double the publicly held national debt to over $15 trillion.
Now President Obama has created his budget as a break from the failed policies of the Bush Administration, but in fact doubles down on President Bush’s borrow, spend and bailout policies. President Bush expanded the federal budget by $700 billion through 2008. President Obama would add an additional $1 trillion. President Bush created expensive financial bailouts; President Obama is accelerating that course. These are a few examples of what is coming at us at full speed and when they hit us the people will be in for sticker shock.
President Obama’s budget is a rejection of the past 25 years of economic policy. As such, the President has rejected the most prosperous economic period in American history. For example, for 29 years from 1953-1982 applied Keynesian economics was in recession 21 percent of the time, inflation reached 13 percent and the stock market grew only 5.4 percent annually. With the 1982 tax rates reduced and the slowing of federal spending, the economy has only been in recession 10 percent of the time, inflation never topped 5 percent, interest rates never exceeded 12 percent and the stock market grew 7.0 percent annually, even including the recent 50 percent drop in our market.
When President Obama claims he inherited this economic recession he is being very disingenuous in that he embraces the very course we have been set upon beginning with the Carter Administration of the 70’s. He and Senator McCain both voted for TARP I. President Obama’s budget demonstrates his willingness to turn back the clock on progress and redistribute wealth that has not yet been created. When Chinese Communists and old Soviet Communists lecture us on how to be more free market oriented you know there is a problem.
The Obama Administration uses class envy and class warfare to accomplish the goal of state, collective ownership and control of production and distribution of products with everyone getting their fair share. Very simply stated, the most effective means of helping the economy recover is to improve the incentives that drive economic activity, and that means reducing tax rates on work, savings, investment, risk taking and entrepreneurial activity. This concept will create twice the jobs at half the cost.
The United States Owe China $1.2 Trillion Dollars Plus owe Whole Bunch of other Countries Money as well.
Fort Knoxx might be Empty because people have already put out Citzens act out but this can be rejected if the country is in danger or can hurt the country so something is wrong because they are denying the Citzens of the “UNITED STATES” a Audit to be done.
The %50 of people in United States are like Sheep or Puppets they do whatever their told even believe what their Goverment tells them.
I have asked a Dozen Americans about the United States and good amount of them are blind to see what’s happening in their own country.
They Act like United States is Best Country ever and it can never fall or Collapse for that Matter even older people act the same way!…. WHY?….. another question are they blind
more details for American’s and Everyone else below:
Watch the video above:
What you expect me to read all those words?
Advice for this house situation?
My parents bought a house in ’79. I lost my father when I was 10, so the house basically got transferred over to my mom’s name eventually. Around 10-12 years ago, the mortgage was nearly paid off, but my mother ended up refinancing the house. There was a lot of crap that she went through during that time. She was up to her ears in credit card debt (a widowed parent trying to raise my brother and I on a low income, so credit cards got used quite a lot) at that time and her idiot brother that she had cosigned with to try to help him get a vehicle…her own mother and brother basically went back on their word and didn’t make payments. So she got a repo on her credit report for a long time and an $8K bill on top of the other debt. All of that is gone now, but I think there is about $50K remaining on the mortgage. I’m not sure her house will sell for $50K. She needs to get out of the crappy neighborhood she is in.
Her mortgage is with Chase home finance. She has a credit card with them, but banks with Bank of America. My brother told her that she could go to the Chase office and talk to them, tell them that she’s unemployed and basically can’t make the mortgage payments anymore and ask for a “short sale”. She’s unemployed and has been for about 9 or 10 months now. She retired from her previous job after 11 years due to the physical stress. She got some retirement money (free stocks that the company gives employees for free and then sells back to itself and gives the person the money when they retired)…but she had some bills to pay with it, as well. Plus, the money that she got wasn’t anywhere near enough to even bring the house down to a more reasonable amount, anyway. She has some of that left in Bank of America. Can Chase see her checking/savings account?
She doesn’t want to just walk away from the house and let it foreclose. But she needs to get out of this crazy neighborhood. It is getting worse and worse. From what I have seen, she apparently has some type of crackheads living next to her. The whole place is going downhill.
So what can she do? Will a mortgage company like Chase lower/forgive some of her mortgage and be willing to short sale the house? How would that process work? She is looking for work now, but she will basically have to rent a house until she can be at a job for at least the 2+ years required to get a mortgage.
The house is a 2-bedroom, 1 bath. Built in 1950. Still has a considerable amount of the galvanized plumbing, a sump pump in the basement in a dugout area with the hot water heater and heat/air system. It is old and needs some work. I have done some of the work that I could.
What can be done to get her out of here? The house is in Atlanta, Georgia. I know that if she just walked away and let it foreclose, in this area, homeless people will try to get into the house and mess it up during the time of the foreclosure. The mortgage company doesn’t want that. I know they don’t want her just walking away from the house and not coming back, and I also fear a “recourse” if they foreclose and can’t sell the house for enough to pay off the remaining mortgage.
I should also add that the house is infested with a moderate amount of roaches. Not sure what to do about that and if I could “get rid of them all” and how that would tie into this situation of selling it as-is. I mean, what places buy houses with roaches? Yet with all of the roach products out nowadays, it seems like a massive amount of people must have them even in nice homes. So it’s a catch-22.
Before Mom speaks to any lender, I suggest she speak to a local real estate agent to find out what she could likely get if she sold the house selling it “as is”. You might find that Mom has a good deal of equity in the house presently, making her smart to want to not just walk walk away.
If she discovers the house is in fact only worth $50-60k or less, as is, talking to the lender about doing a short sale may be in her best interest (because real estate agents tend to inflate prices to sellers when trying to get a listing). If she discovers the house is worth more than $60k she should simply try to refinance the loan which would result in a lower more affordable payment that may allow her to afford to pay others for the necessary repairs allowing her to sell for even more and get out of the neighborhood.
For people with experience & Knowledge: What do you think of this plan for my future lifestyle?
I am 16 years old now, I’m in the 11th grade, and I have 4 A’s 4 B’s at the moment but it’s safe to say my overall gpa is a 3.37. 3 Honors classes, and I’m really not trying to brag, but I don’t find school as a challenge whatsoever. I stare in space and talk to friends, then get an A or B.
With that being said (so you can get an idea of if this is unrealistic after reading it), I plan on going to a 4 year college (undecided), Major in Entrepreneurship, minor in something to do with music (not playing instruments, but the study of it, if there’s classes on that.) After college, I plan on going in the military for 3-4 years to pay for college, along with the experience. I also plan on putting some of the money I make there, and a great amount of it in a savings account. In the military (after about 1 year or a few months, I want to start my dream job as a Realtor, but of coarse part time, at the time. After the military, I plan on getting serious about being a Realtor, full time, and fully dedicated. I want to start my own business in Real Estate right out of the army. After about 6 years of my career, or when I start to become successful, I want to get an online job, in something dealing with music, such as a music critic. Get married at about 30, have 1 kid at about 32, then 1 more at about 34. I also plan on buying stock somewhere down the line, when it seems smart. Well, that’s my plan in life, and I know the Real Estate market is declining, but it has been predicted to rise in the next few years, and even if it doesn’t, the top 10% of Realtors make $100,000+ annually, and some people have become VERY VERY rich off Real Estate. Please comment with anything you have to say, how does it all sound? Oh yeah and I forgot to add, I plan on living somewhere like Washington D.C., or Maryland, and when I get my first place, it’s going to be considerably below what I can afford, but enough to live with decently. Until I have a crap load of money, then I’ll buy a reasonably affordable place for my budget. If I’m doing excellent as far as money, I’ll buy a very nice place, that’s still well under my price range. AND I care about happiness more than money. I look forward to being a father, and husband, so consider that when answering. Thanks for reading this extremely long post, please respond, I need some advice!!
Philosophically speaking, it is Good for self consumption. Try and if it does not suit, you can always change the plan to suit your best comforts and conveniences.
Please help me remember the name of this movie?
It didn’t win any awards or have a memorable cast, it was probably a high 5/10 or low 6/10 on IMDB, but it is something I would like to see again. The problem is that I just can’t remember the name. In essence, the film is about one young, already quite rich business man trying to get even richer. He’s the one who narrates the film and introduces us to his life and his world. He rides around in a limousine, has a fantastic home in Manhattan, a trophy wife, no children, goes to functions and parties with other super-rich. At these functions, he explains who is who and how rich they are. He mentions the Forbes list and which places people hold. He is quite close to the top of this himself, but there is one cunning older gentleman standing in his way. As the movie unfolds, he devises a plan to make even more money and put him on top, at the same time making others lose. I think it has something to do with some sort of investment or stocks, can’t remember exactly. I do remember he was sort of a heartless bastard type. Can’t remember who plays him. The film is not Boiler Room or Wall Street, it is not one of the well-known classics in the same genre. It is not about gambling or sports betting either. Someone mentioned Two for the Money, but that’s not it. I’ve searched Google and IMDB for weeks and am still looking. Please help! 🙂
Take a look at this list of similar movies on MSN:
One just might be the movie you’re looking for.
What do the mixed economic #s in the last major report, besides a job report next week show?
400 economists have endorsed Romney – a group, founded by an ex-Bush official
In a new survey by The Economist, “economists gave Obama’s economic plan an average grade of 3.15 on a five-point scale: nearly 50 percent higher than their 2.14 grade of Romney’s plan, The Economist sent its survey to 1,005 economists.”
A USA TODAY survey of 48 top economists conducted Oct. 15 – 18. Concludes that GDP will continue to rise to 2.8% at the end of 2013 http://www.usatoday.com/story/money/business/2012/10/24/economists-fiscal-cliff-survey/1651995/
Lately, there is more economic evidence that the U.S. continues to do better than most other advanced economies of the world despite the fact that economists have been saying the weak global economy(especially the Euro-crisis), the severe drought, and fears of the fiscal cliff have slowed our recovery.
“GDP is the one indicator that says the most about the health of the economy”.
TODAY”S GDP REPORT FIGURES-
Bloomberg.com and may others are reporting on today’s Commerce Department figures:
“Gross domestic product, the value of all goods and services produced, rose at a 2% annual rate better than predicted, after climbing 1.3% in the prior quarter,”
“The Thomson Reuters/University of Michigan final consumer sentiment index climbed to 82.6 this month, the highest since September 2007”.
“Consumer purchases, which make up about 70 percent of the world’s largest economy, grew at a 2 percent annual rate, up from a 1.5 percent second-quarter gain…Lower gasoline prices and a drop in unemployment are helping to lift confidence.”
“Cars and light trucks sold at a 14.9 million annual pace in September, the strongest since March 2008.”
“The rate of economic growth would have been stronger if not for the drought that affected crops in the Midwest. A drop in farm inventories subtracted 0.4 percentage point from third- quarter GDP.”
Wall Street Journal “Government spending contributed to growth for the first time in more than two years, led by outlays for defense [but] Consumer spending accounted for most of the increase in GDP…One relative bright spot in the GDP update was housing.’
However, “Nonresidential fixed investment, which includes business spending on buildings and equipment, fell 1.3%, compared with a 3.6% gain in the second quarter.”
WSJ-Stronger retail sales and other polls and surveys also have shown Americans becoming more positive about the economy.
Such optimism comes despite a weakening global outlook that has dragged down exports and hurt manufacturers. The domestic economy (the U.S.) is doing better even as the export side is weakening (because of a poor global economy).
Economists said the current rebound may reflect a broader improvement in household finances. Job growth has been slow but relatively steady over the past two years, and incomes are rising again. The stock market has been strong and the long-moribund housing market is finally beginning to recover”.
In August we learned housing had it’s first positive year June 2011-2012 since the Great Recession.
Business Insider reports DEUTSCHE BANK says”The Housing Market Is Telling Us The Rest Of The Economy Will Accelerate Within Months.’…this recovery in housing is important because housing is what led the U.S. economy into a recession, and is part of the reason the recovery has been so slow”
TODAY – the GDP figures backed up the housing recovery “Residential construction increased at a 14.4 percent rate, up from an 8.5 percent gain in the prior period.” – Bloomberg
2008-May 2012 – Treasury Department charts on economic growth
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