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View Full Version : America Is 'Bankrupt Mickey Mouse Economy': CIO

Cohetero-negro
08-11-2010, 09:50 AM
Please don't kill the messenger...

http://www.cnbc.com/id/38654017
mycrofte
08-12-2010, 01:00 AM
I've said that for years but nobody listened...

Then again, I saw this recession coming for 20 years and no one listened to that either. They have spent the last 40 years getting rid of the middle class to create a Utopian society. We have 50% of the money in 5% of the populations hands. The rest (who aren't unemployed) work at Walmart and McDonald's...

Yet these economic eggheads can't figure out why no one is buying houses or cars (duh)...
InFlight
08-12-2010, 12:23 PM
They keep pulling trillions of dollars out of thin air :chuckle:

Must be a very special printing press making all that vapor cash. :cool:

.
Shreadvector
08-12-2010, 12:55 PM
They keep pulling trillions of dollars out of thin air :chuckle:

Must be a very special printing press making all that vapor cash. :cool:

.
Printing money does not create money.

The BEP prints it.

When it is sold to the Federal Reserve it is sold as Federal Reserve Notes, in other words, there is a loan and interest.

When coins are minted, they become "Money" immediately upon completion. Coins make us a profit (OK, most coins - one cent coins are stupid money-losing annoyances.)

http://www.coinflation.com/

US Mint annual report includes not only the base metal price, but the costs to manufacture.

http://www.usmint.gov/downloads/about/annual_report/2009AnnualReport.pdf


http://en.wikipedia.org/wiki/Seigniorage
Rocketflyer
08-12-2010, 01:17 PM
Printing money does not create money.

The BEP prints it.

When it is sold to the Federal Reserve it is sold as Federal Reserve Notes, in other words, there is a loan and interest.

When coins are minted, they become "Money" immediately upon completion. Coins make us a profit (OK, most coins - one cent coins are stupid money-losing annoyances.)

http://www.coinflation.com/

US Mint annual report includes not only the base metal price, but the costs to manufacture.

http://www.usmint.gov/downloads/about/annual_report/2009AnnualReport.pdf


http://en.wikipedia.org/wiki/Seigniorage


What a literalist. Man was making a funny comment. :chuckle: Geeze.

Anyone who couldn't see this coming had to be naive, blind, in la-la-land or stupid.
Shreadvector
08-12-2010, 01:37 PM
What a literalist. Man was making a funny comment. :chuckle: Geeze.

Anyone who couldn't see this coming had to be naive, blind, in la-la-land or stupid.

At least I didn't post anything rocketry related. That would be unforgivable.
mycrofte
08-12-2010, 01:44 PM
The thing I am afraid of is that they really did see it and ignored it! (like G.W.)

Which means capitalism really is the evil empire the Russians said it is. Or, there are a few bastards out there that thought it was OK to get rich and then watch the economy spiral down.
Rocketflyer
08-12-2010, 02:04 PM
At least I didn't post anything rocketry related. That would be unforgivable.


:chuckle: :chuckle: Good one, Fred.
Rocketflyer
08-12-2010, 02:06 PM
The thing I am afraid of is that they really did see it and ignored it! (like G.W.)

Which means capitalism really is the evil empire the Russians said it is. Or, there are a few bastards out there that thought it was OK to get rich and then watch the economy spiral down.


I think we are being dliberately being bankrupted. :mad: Think of the consequences.
luke strawwalker
08-14-2010, 06:09 PM
Yeah, old news...

Been coming a LONG time... and there will always be vultures that will make a killing off it and thrive... always have been, always will be, and there are more of them now than ever...

Just remember it when you stand in line all day to spend your weekly paycheck for a loaf of bread, if you can get one... cuz that's where it's ultimately headed eventually...

Later! OL JR :)