Comments on: Another Sign of the Dollar’s Diminished Standing? http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html Sun, 22 Nov 2009 06:06:33 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30646 Anonymous Sun, 28 Dec 2008 19:11:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30646 Spending government money solely to stimulate consumer spending would be a short-sighted mistake, one of U.S. President-elect Barack Obama's top economic advisers said on Sunday.<br/>http://www.reuters.com/article/bondsNews/idUSN2826588320081228<br/><br/>Here's a dumb ass from the Obama camp and what can be looked forward too. I would argue spending money government doesn't have, impoverishing future generations under a mountain of debt and a collapsing currency for any reason is short sighted but alas they will do it anyway. Spending government money solely to stimulate consumer spending would be a short-sighted mistake, one of U.S. President-elect Barack Obama’s top economic advisers said on Sunday.
http://www.reuters.com/article/bondsNews/idUSN2826588320081228

Here’s a dumb ass from the Obama camp and what can be looked forward too. I would argue spending money government doesn’t have, impoverishing future generations under a mountain of debt and a collapsing currency for any reason is short sighted but alas they will do it anyway.

]]> By: melvin polatnick http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30642 melvin polatnick Sun, 28 Dec 2008 17:05:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30642 Becoming a union member was the quickest way to make a decent wage. Everybody wanted union membership. Easy credit made everything affordable and higher prices for union made goods and services were easily overlooked. Buying the union label was patriotic because it supported a higher standard of living for Americans. That was the way things were for decades. But the U.S. is now going through a recession and the consumer is becoming extremely price conscious and searching for bargains. Goods and services without union labor are cheaper and therefore more desirable. Unless the consumer is willing to pay the higher cost of goods and services the union worker will soon become extinct. Millions of former union members will then be forced to renegotiate their salaries on an individual basis.<br/>Let us hope the economy recovers and the union label will fly high again. Becoming a union member was the quickest way to make a decent wage. Everybody wanted union membership. Easy credit made everything affordable and higher prices for union made goods and services were easily overlooked. Buying the union label was patriotic because it supported a higher standard of living for Americans. That was the way things were for decades. But the U.S. is now going through a recession and the consumer is becoming extremely price conscious and searching for bargains. Goods and services without union labor are cheaper and therefore more desirable. Unless the consumer is willing to pay the higher cost of goods and services the union worker will soon become extinct. Millions of former union members will then be forced to renegotiate their salaries on an individual basis.
Let us hope the economy recovers and the union label will fly high again.

]]> By: Stuart http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30623 Stuart Sun, 28 Dec 2008 05:39:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30623 The dollar is garbage backed by a government whose accounting record makes Enron look stellar. It's not worth the paper it's printed on. Never buying US assets again. Don't trust the books. The dollar is garbage backed by a government whose accounting record makes Enron look stellar. It’s not worth the paper it’s printed on. Never buying US assets again. Don’t trust the books.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30622 Anonymous Sun, 28 Dec 2008 05:25:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30622 Russia took to long to announce the backstopping of private debt. Unrest already starting.<br/><br/>Red China will do public work projects but no way can they backstop the pool of foreign investments evaporating before their eyes. <br/><br/>Germany can't restart Euroland.<br/><br/>USA has only done the temporary fixes necessary for the short term.<br/><br/>Worldwide, if battles turn into wars then gold will rise faster and further.<br/><br/>Paper currencies are debt from the get-go, a promise to accept and honor via trust versus a tangible. Russia took to long to announce the backstopping of private debt. Unrest already starting.

Red China will do public work projects but no way can they backstop the pool of foreign investments evaporating before their eyes.

Germany can’t restart Euroland.

USA has only done the temporary fixes necessary for the short term.

Worldwide, if battles turn into wars then gold will rise faster and further.

Paper currencies are debt from the get-go, a promise to accept and honor via trust versus a tangible.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30612 Anonymous Sat, 27 Dec 2008 20:23:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30612 I am afraid that currencies are as manipulated as commodities and equities. Gold seems to retain what remains of a perception of the store of value. It too will be destroyed. There is no place to hide in this market. I am afraid that currencies are as manipulated as commodities and equities. Gold seems to retain what remains of a perception of the store of value. It too will be destroyed. There is no place to hide in this market.

]]> By: Max http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30611 Max Sat, 27 Dec 2008 20:02:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30611 <i>So my question is, is gold too high or is oil too cheap?</i><br/><br/>With 50% confidence, I say it's the latter. So my question is, is gold too high or is oil too cheap?

With 50% confidence, I say it’s the latter.

]]> By: GloomBoom.com http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30608 GloomBoom.com Sat, 27 Dec 2008 19:45:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30608 This may just be a short upleg for gold, but that can only be seen in hindsight. Gold's price fluctuates, it's not always a conspiracy. I'm keeping mine too! This may just be a short upleg for gold, but that can only be seen in hindsight. Gold’s price fluctuates, it’s not always a conspiracy. I’m keeping mine too!

]]> By: feeblemind http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30607 feeblemind Sat, 27 Dec 2008 19:31:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30607 Last summer I saw a chart showing gold and oil moving almost in lock step with each other over the last 3 decades. Even at $140/barrel, it took about the same amount of gold to buy a given amount of oil as 10 or 20 years ago. So my question is, is gold too high or is oil too cheap? Last summer I saw a chart showing gold and oil moving almost in lock step with each other over the last 3 decades. Even at $140/barrel, it took about the same amount of gold to buy a given amount of oil as 10 or 20 years ago. So my question is, is gold too high or is oil too cheap?

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30606 Anonymous Sat, 27 Dec 2008 19:04:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30606 Germany resists calls to spend its way out of trouble<br/>http://www.iht.com/articles/2008/12/26/europe/germany.4-396757.php<br/><br/>That hyperinflation in the 20's must have left a bad taste in their mouth. Germany resists calls to spend its way out of trouble
http://www.iht.com/articles/2008/12/26/europe/germany.4-396757.php

That hyperinflation in the 20’s must have left a bad taste in their mouth.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/12/another-sign-of-dollars-diminished.html#comment-30604 Anonymous Sat, 27 Dec 2008 18:34:00 +0000 http://www.nakedcapitalism.com/2008/12/another-sign-of-the-dollars-diminished-standing/#comment-30604 Gold went up the $20 in about 5 minutes after it topped a key technical level at $850. Check the chart, the mover up was very very fast based on short covering. The article is an example of idiots trying to explain things they don't have a clue about. Gold went up the $20 in about 5 minutes after it topped a key technical level at $850. Check the chart, the mover up was very very fast based on short covering. The article is an example of idiots trying to explain things they don’t have a clue about.

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