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 Replies: 25 / Views: 2,270 |
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Pillar of the Community
Belgium
2078 Posts |
quote:
Originally posted by crystalk64
Ageka I will take that offer on both my gold and silver! Just send cash!!!
No problem In the last days of Mobutu in Zaire Belgium was sending over 20 tons of newly printed money day after day after day Belgium has good engravers and good printers How many Ton of paper do you want and do you prefer pretty colors  |
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Pillar of the Community
United States
1247 Posts |
quote:
Originally posted by ageka
quote:
Originally posted by longnine009
quote:
Originally posted by ageka
At 800 billion deficit per year the dollar is not cheap
in fact it is hugely overevaluated at present against all other currencies
That's just the yearly additions to the federal debt. That's nothing! As I understand it the total debt of the United States: federal, states, cities, corporate, and personal debt is 51 trillion dollars. Now, I'm not a very optimistic person, but really, are they kidding? How are McJobs going to pay for this?
Got wallpaper?
In principle the economic theory presumes that the debt of an autonomous country will never be paid off
But talking Trillions going up every year is not sustainable
Sooner or later some sort of solution will have to be found or the solution will find the debtor
I think in principle there are two ways out
One is 20 years of austerity
The other is Weimar type runaway inflation were a loaf of bread costs a cool million
I do not want to consider a third possibility 
Austerity from the Boomer generation? Hehehehehe, I gotta see that one. Some boomers (the ones who haven't been outsourced to India yet) still think technology and the Internet are going to be our salvation. NASA's space program spun off huge benefits to America, therefore, the Internet, made possible in part, if not mostly, by DARPA, should be an economic boon for us. It's not going to happen that way. Technology, globalization, and the Internet are going to work *against* the U.S and other developed countries more than they will for us. Wages are declining and the fact is real wages in the U.S have been declining since the 80's. The stats that show them increasing are lies as are the inflation stats for the last 30 years. I don't know what they'll do about the national debt or what they can do. How is a nation barreling towards McJob-dom going to pay off, or even pay down to an acceptable level, 51 trillion dollars? The Federal Reserve should stop snorting and change the batteries in their calculators! But...I suspect they'll just go on pretending nothing's wrong until disaster strikes-- probably when real estate spirals into the ground. And then everyone will put on their Louie from Casablanca act: "I'm shocked, shocked to find gambling going on." This is yet another reason why I don't see China becoming a super rich country that will keep buying up all the gold and silver on the planet. Their 10.5 %GDP can't go on forever and even if it did they are the biggest buyers of U.S Treasury bonds. How rich are they going to get doing that?  |
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Valued Member
United States
458 Posts |
quote:
Originally posted by longnine009
quote:
Originally posted by ageka
quote:
Originally posted by longnine009
quote:
Originally posted by ageka
At 800 billion deficit per year the dollar is not cheap
in fact it is hugely overevaluated at present against all other currencies
That's just the yearly additions to the federal debt. That's nothing! As I understand it the total debt of the United States: federal, states, cities, corporate, and personal debt is 51 trillion dollars. Now, I'm not a very optimistic person, but really, are they kidding? How are McJobs going to pay for this?
Got wallpaper?
In principle the economic theory presumes that the debt of an autonomous country will never be paid off
But talking Trillions going up every year is not sustainable
Sooner or later some sort of solution will have to be found or the solution will find the debtor
I think in principle there are two ways out
One is 20 years of austerity
The other is Weimar type runaway inflation were a loaf of bread costs a cool million
I do not want to consider a third possibility
Austerity from the Boomer generation? Hehehehehe, I gotta see that one. Some boomers (the ones who haven't been outsourced to India yet) still think technology and the Internet are going to be our salvation.
NASA's space program spun off huge benefits to America, therefore, the Internet, made possible in part, if not mostly, by DARPA, should be an economic boon for us. It's not going to happen that way. Technology, globalization, and the Internet are going to work *against* the U.S and other developed countries more than they will for us. Wages are declining and the fact is real wages in the U.S have been declining since the 80's. The stats that show them increasing are lies as are the inflation stats for the last 30 years.
I don't know what they'll do about the national debt or what they can do. How is a nation barreling towards McJob-dom going to pay off, or even pay down to an acceptable level, 51 trillion dollars? The Federal Reserve should stop snorting and change the batteries in their calculators!
But...I suspect they'll just go on pretending nothing's wrong until disaster strikes-- probably when real estate spirals into the ground. And then everyone will put on their Louie from Casablanca act: "I'm shocked, shocked to find gambling going on."
This is yet another reason why I don't see China becoming a super rich country that will keep buying up all the gold and silver on the planet. Their 10.5 %GDP can't go on forever and even if it did they are the biggest buyers of U.S Treasury bonds. How rich are they going to get doing that?
LOL HAHAHAHA ROTFL---
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Valued Member
 Canada
309 Posts |
I have started the thread,and I am reading all the replies.Thank You for your opinions.I did not discuss any of them because I don't have anything smart to say.As such,i just read  |
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Pillar of the Community
Belgium
2078 Posts |
For the past 15 years Belgium has been on an austerity plan with all kind of new taxes and salary freezes etc One of the driving forces were to meet the EEC rules for entering the EEC In short I have been paying all kind of add on's for social security , solidarity, garbage collection, tapwater, provincial tax etc etc For the past five years I have had to work for the same salary as a temperary replacement ( I got a univ degree in chemistry and an MBA degree ). I am too old and expensive for a permanent job With direct marginal taxes at 65% and gasoline at 7$ a gallon and VAT taxes at 21 % I have reduced spending by 40% I hope I saved enough to survive till I die  |
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Pillar of the Community
Australia
9416 Posts |
quote:
Originally posted by crystalk64
My predictions is when it is all said and done Australia will be the only remaining super power in the world! Guess they were just far enough from the rest of the world to protect themselves!
As an Australian, I am glad to read this. Just to rub salt into the wounds, on 21st April 2006 Australia paid off its overseas debt, and we are now trading in the 'black'. If it makes you feel any better we are screaming out for workers in Western Australia, so come on downunder. I believe they are paying workers $90000 to wash dishes in some of the mines up in the North West. (now you know how LIM can afford all those nice coins LOL). Steve |
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Pillar of the Community
United States
1247 Posts |
quote:
Originally posted by ageka
For the past 15 years Belgium has been on an austerity plan with all kind of new taxes and salary freezes etc
One of the driving forces were to meet the EEC rules for entering the EEC
In short I have been paying all kind of add on's for social security , solidarity, garbage collection, tapwater, provincial tax etc etc
For the past five years I have had to work for the same salary as a temperary replacement ( I got a univ degree in chemistry and an MBA degree ). I am too old and expensive for a permanent job
With direct marginal taxes at 65% and gasoline at 7$ a gallon and VAT taxes at 21 % I have reduced spending by 40%
I hope I saved enough to survive till I die
Ageka, do Europeans still believe in the EEC? 15 years is a lot of austerity, just to get in. What's the pay-off going to be for all that sacrafice? BTW, it appears that Barclay's silver ETF is going to start up on Friday.I wonder what will happen to the price of silver now that the suspense is gone? http://c.moreover.com/click/here.pl...47696&f=1774Edited by longnine009
04/27/2006 7:10 pm
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Pillar of the Community
Australia
1529 Posts |
quote:
Originally posted by triggersmob
quote:
Originally posted by crystalk64
My predictions is when it is all said and done Australia will be the only remaining super power in the world! Guess they were just far enough from the rest of the world to protect themselves!
As an Australian, I am glad to read this. Just to rub salt into the wounds, on 21st April 2006 Australia paid off its overseas debt, and we are now trading in the 'black'. If it makes you feel any better we are screaming out for workers in Western Australia, so come on downunder. I believe they are paying workers $90000 to wash dishes in some of the mines up in the North West. (now you know how LIM can afford all those nice coins LOL).
Steve
There is more to it than what our polis tell us. We have paid off our overseas debt but at what a cost? Quietly we have been selling off our national assets where there is hardly anything else left to sell. Even the "vegemite" is no longer ours. WA is undergoing a massive resources boom at present and it is very true we are sreaming for skilled workers. "Pot wallopers" are paid quite a lot and are earning more than "rock apes" (geologist). Of all the trades, "sparkies" (electricians) can command their own price (most of them are on $120,000++ per annum). |
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Pillar of the Community
Belgium
2078 Posts |
quote:
Originally posted by longnine009
quote:
Originally posted by ageka
For the past 15 years Belgium has been on an austerity plan with all kind of new taxes and salary freezes etc
Ageka, do Europeans still believe in the EEC? 15 years is a lot of austerity, just to get in. What's the pay-off going to be for all that sacrafice?
The private person has a few benefits No longer exchanging money at 5% cost when going to another country (save England )For vacations and business trips this is very convenient too Banktransfers to other members at 0.5 Euro instead of 20 Euro this made buying coins possible in other member countries for me No longer Customs at the frontiers nor for mailorders for members This means for me 60 liter of French wine at half price per trip (oh yes they put limits on cigarettes, wine, perfume etc you do not want free to be too free ) I can now order my favourite vice being cherries on cognac straight from the French producer because together with the borders disappeared the importers who for pushing the customs paper took 30% of cost I have been working a lot in France too now because our univ qualifications are now recognised by other members but I still have to announce my coming and going in triplicate on government imbossed paper ( but no double taxation ) As a consumer I get better and cheaper products eg the French are no longer allowed to be officially upset about Belgium buying pre season tomatoes and strawberries in Spain and trucking them through France For enterprises this has eliminated the currency risk ; simplified transport documents The problems only start at the political and monetary level certainly so since the Germans who were the Hawks in setting up the system now do not meet the maximum specified budget deficit themselves and there is still an orfull lot of farmer subsidies sloshing around and being fought over because every member wants to get more back then it pays for |
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Pillar of the Community
United States
1247 Posts |
Geeesh, you guys once thought Wilson's 14 points were too complicated. "Mr. Wilson bores me with his Fourteen Points; why, God Almighty has only ten." Georges Clemenceau on Woodrow Wilson Well, I hope it all turns out okay for Europe. Especially since so many collectors like the Euros. But I'm not too optimatic. "Globalization" IMO, is the biggest hustle since the Federal Reserve. |
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Replies: 25 / Views: 2,270 |
First Page
Posted 04/26/2006 5:13 pm
