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Markets in a tailspin

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Way to try and shift the topic off "Markets in a tailspin."

Lets fuck with John, so no one realizes how fucked up we are.

-John

I imagine you get a Government pay check.

-John

Or are you disabled? That would explain the hate.

-John
 
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Almost everyone I know who gets a government paycheck or is on disability is crazy conservative. The former are usually military (and reluctant to admit that it is a government paycheck), and the latter tend to have a 'keep your government hands off my government entitlement' mentality.
 
And we're not fucked up, John. We're the richest and most powerful nation that has ever existed in all of human history. Rome was shit compared to the US.
 
Vic said:
And we're not fucked up, John. We're the richest and most powerful nation that has ever existed in all of human history. Rome was shit compared to the US.
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We're pretty fucked up. You, your wife, each of your children, owe $60,000 to the United States Government, today.

-John
 
Zorkorist said:
We're pretty fucked up. You, your wife, each of your children, owe $60,000 to the United States Government, today.

-John
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You have that backwards. It's the government that owes that money to its bondholders. Our taxes are the de facto collateral to that debt, yes, but we the people are not actually obligated to its repayment.
 
Of course we are obligated to the payment. It's people like you that think money is free that are destroying America.

-John
 
NoStateofMind said:
If China keeps devaluing their currency and then switches to a gold standard (they've been hoarding for some time), what kind of effects might that have on the world economy?

They already are devaluing to stimulate their exports (and internal manufacturing) due to their range peg to the dollar. Being a manufacturing juggernaut, and therefore can provide for their own internal needs, creating a gold backed currency would immediately place them as the worlds most powerful economy overnight. Right?

Or am I mistaken? Is this not a possibility?
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It's not so much them switching to a gold standard or even devaluing their currency but the fact that they want to dethrone the US as the reserve currency. However that won't occur until the US dollar is no longer the absolute currency for which OPEC oil is sold under. It is the petrodollar relationship to that insures the US remains "The World's Reserve Currency" of choice because ME oil sales dominated sole in US dollars is what fuels demand for our currency world wide. It is the mechanism that allows us to run up debt and export away all the associated inflation which would occur US currency were not so intrinsically tied to oil sales in the ME.
 
DucatiMonster696 said:
It's not so much them switching to a gold standard or even devaluing their currency but the fact that they want to dethrone the US as the reserve currency. However that won't occur until the US dollar is no longer the absolute currency for which OPEC oil is sold under. It is the petrodollar relationship to that insures the US remains "The World's Reserve Currency" of choice because ME oil sales dominated sole in US dollars is what fuels demand for our currency world wide. It is the mechanism that allows us to run up debt and export away all the associated inflation which would occur US currency were not so intrinsically tied to oil sales in the ME.
Click to expand...

Less Government would be good.

-John
 
DucatiMonster696 said:
It's not so much them switching to a gold standard or even devaluing their currency but the fact that they want to dethrone the US as the reserve currency. However that won't occur until the US dollar is no longer the absolute currency for which OPEC oil is sold under. It is the petrodollar relationship to that insures the US remains "The World's Reserve Currency" of choice because ME oil sales dominated sole in US dollars is what fuels demand for our currency world wide. It is the mechanism that allows us to run up debt and export away all the associated inflation which would occur US currency were not so intrinsically tied to oil sales in the ME.
Click to expand...

https://www.youtube.com/watch?v=PCAFnCo6nyM

That's why the Iran deal is important for the U.S to bring Iran into the fold and maintain demand for the dollar internationally.

Kissinger flew over to Saudi Arabia in 1973 to get Aramco to sell exclusively in dollars in exchange for U.S. military protection, and by 1975 all OPEC nations followed suit and exclusively traded in the dollar. However anyone in the late 60s and early 70s remembered when OPEC wasn't exactly America's friend.

With the political split between US and Saudi Arabia that began over America's unwillingness to go to war and get rid of Assad, the US knows if the Iran deal falls apart, Saudi Arabia's willingness to go along with the petrodollar is not going to go on indefinitely, and OPEC will likely follow whatever direction the Saudis take, so the long term prospects of the status quo isn't good for the dollar.
 
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