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jdobbin

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http://www.msnbc.msn.com/id/26162435/

The federal budget deficit soared in July, pushed higher by economic stimulus payments and $15 billion in outlays to protect depositors at failed banks.

The Treasury Department reported that the deficit for July totaled $102.8 billion, nearly triple the $36.4 billion deficit recorded in July 2007.

The deficit outstripped the $97 billion gap that Wall Street economists had been expecting for July.

Spending continues to rise for the Feds.

It remains to be seen whether the stimulus package will keep the U.S. from slipping further into economic difficulties.

Edited by jdobbin
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http://www.msnbc.msn.com/id/26162435/

Spending continues to rise for the Feds.

I think that's the plan, drive the deficit and debt so high that spending for everything that doesn't have something to do with the military or security/enforcement is cut.

It remains to be seen whether the stimulus package will keep the U.S. from slipping further into economic difficulties.

There's nothing on Earth that can do that now, unless its a stimulus package for more military and security/enforcement spending.

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Inflation is rising fast.

http://www.msnbc.msn.com/id/26195964/

Consumer prices shot up in July at twice the expected rate, pushed higher by surging energy and food costs. The latest surge left inflation running at the fastest pace in 17 years.

The Labor Department reported Thursday that consumer prices rose by 0.8 percent last month, twice the 0.4 percent gain that economists had been expecting.

There are many analysts predicting a lot more pain.

I found this analyst in particular to be interesting.

http://www.theglobeandmail.com/servlet/sto...PStory/Business

"America is finished. We are going to destroy this country. Our economy is just going to unravel," he told me yesterday. "The question is how much money is the world going to lose before it writes us off?"

Apocalyptic forecasts are a dime a dozen these days, so why should anyone pay attention to Mr. Schiff? Because his past predictions have proved uncannily accurate.

Edited by jdobbin
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I think that's the plan, drive the deficit and debt so high that spending for everything that doesn't have something to do with the military or security/enforcement is cut.

Hey, I like that...Canada did the opposite when much closer to the abyss back in the '90s. Slash the military and health care too. Ouch!

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"America is finished. We are going to destroy this country. Our economy is just going to unravel," he told me yesterday. "The question is how much money is the world going to lose before it writes us off?"

Apocalyptic forecasts are a dime a dozen these days, so why should anyone pay attention to Mr. Schiff? Because his past predictions have proved uncannily accurate.

The economy may unravel but the country will not be destroyed. The economy is not the country or the people. Alot of them know what needs to be done to fix it. There will be short term pain for some and long term pain for those unable to change or who depend on government to change things for them.

If it happened to us Canada would be finished.

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I`ve read several times about the plan to put America in a bad way financially, and I`m sure that`s the plan for Canada, so the elite of the world can continue with their plan of the creation of the North American Union. What better person to do this to the US than GW Bush, who has a habit of spending and spending, even when he was governor. I hope Laura is looking after the family money!

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I`ve read several times about the plan to put America in a bad way financially, and I`m sure that`s the plan for Canada, so the elite of the world can continue with their plan of the creation of the North American Union. What better person to do this to the US than GW Bush, who has a habit of spending and spending, even when he was governor. I hope Laura is looking after the family money!

Have you considered connecting your toaster to your 25 mile aerial?

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Have you considered connecting your toaster to your 25 mile aerial?

There are none so blind as those who refuse to see.

:lol:

You ALWAYS trot out the "tinfoil" thing. Really it's getting tiring. *sigh*

How about refuting the ISSUE instead of attacking the poster. Unless of course, you don't have a leg to stand on and are angry about it. LOL

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Buffet's commentary today.

http://www.msnbc.msn.com/id/26330135/

Buffett said the economy is in a recession because most Americans aren’t doing as well today as they used to be. The technical definition of a recession most economists use is two consecutive quarters of negative growth in the nation’s gross domestic product.

Regarding the nation’s credit crunch, Buffett said he believes mortgage giants Fannie Mae and Freddie Mac are too big to fail, but that doesn’t mean that all the shareholder equity in those companies can’t be wiped out.

I think he is right that the pain looks to continue for a while.

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  • 12 years later...

The facts........ Interest rate below inflation are negative interest rates.....Government spending...I Don't think they can cut spending without a crisis to many interest groups that are difficult to take on....

What happens after negative interest rates...Money printing......Can the Fed stop printing money without a crisis.....I don't believe so there is no political will ( kinda like closing down the airports Before the virus spread)......

Conclusion We are in A depression that they are trying to prevent from happening.....By fake economics e.g. an errosion of standard of living over many years. 

All the money they have printed is working through the system now, Asset bubbles.......How it will settle is the million dollar question....I think eventually the printing of money won't work any longer....and we should reach that point soon....then the money will shift.....I don't think anyone can predict where the money will go with certainty....China is communist, Europe is a Basket case. There is No alternative but Gold and other rare things like land and maybe companies that produce things people need Innovative companies.

I think the stock market will be the first to correct. Because its the most Liquid (concerning assets)

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