U.S is back in another great recession.

GASWAGON · 23-06-2016, 06:24 PM

Found this article today.......... Obama has been telling lies saying that the U.S economy is in great shape when in actual fact it is all going backwards and is now, after fighting off a nearly 10 year long 'great recession' is back in another recession.

Sounds like The Fed (Janet Yellen) may have to implement Quantitative Easing again? (Stimulus package).

Not a pretty sight and I reckon Oz will be in a similar position by the end of this year too.

http://www.cnbc.com/2016/06/21/the-n...ommentary.html

**Fordman1** · 23-06-2016, 06:30 PM

Quote:

Originally Posted by CoolBFWagon

Found this article today.......... Obama has been telling lies saying that the U.S economy is in great shape when in actual fact it is all going backwards and is now, after fighting off a nearly 10 year long 'great recession' is back in another recession.

Sounds like The Fed (Janet Yellen) may have to implement Quantitative Easing again? (Stimulus package).

Not a pretty sight and I reckon Oz will be in a similar position by the end of this year too.

http://www.cnbc.com/2016/06/21/the-n...ommentary.html

Is that you Donald ?

GASWAGON · 23-06-2016, 06:35 PM

Quote:

Originally Posted by Barraxr8

Is that you Donald ?

I wish I was Donald he's a billionaire you know.

I think he's the best man for the job in November but even Donald will NOT be able to do anything about the MASSIVE U.S debt. (19.5 TRILLION!!!)

**Fordman1** · 23-06-2016, 06:37 PM

5, 4, 3, 2 .......

sprintman1 · 23-06-2016, 06:59 PM

Brexit vote tonight, big changes for everybody if they vote OUT.

wodahs · 23-06-2016, 07:01 PM

Quote:

Originally Posted by Barraxr8

5, 4, 3, 2 .......

cant be long now

GASWAGON · 23-06-2016, 07:06 PM

Quote:

Originally Posted by sprintman1

Brexit vote tonight, big changes for everybody if they vote OUT.

Ye I dont think they will vote to leave.

Better the devil you know me thinks?

But then again I hav'nt really read much about it all.

Maybe, just maybe, they will leave???

Mowdit · 23-06-2016, 07:29 PM

when interest rates are basically zero Obama has no choice other than to "talk it up"

There should be enough "scare mongering" that Brittan wont leave the EU, this will give the world economy a short term lift .

When it finally happens, which Aussie state will be first down the tube

Queensland judging by the reports that they were "allocated" a chunk of NSW gst revenue (seeing as how NSW state Gov has a $$$$ surplus finally

)
(Qld may have won the State of Origin, but financially they're

)

Adamz Ghia · 23-06-2016, 07:33 PM

Quote:

Originally Posted by Barraxr8

5, 4, 3, 2 .......

It doesn't have to be locked if idiots resist the urge to be idiots.

I don't believe we will ever know the true state of the economy. Each party will spin it to suit their own agenda. There's only so much QE can do, their interest rates can only be cut once I think before they're back at zero.

Although we're planning to return to the States soon so their bank can ease away!

Trump · 23-06-2016, 07:56 PM

Quote:

Originally Posted by Adamz Ghia

It doesn't have to be locked if idiots resist the urge to be idiots.

I don't believe we will ever know the true state of the economy. Each party will spin it to suit their own agenda. There's only so much QE can do, their interest rates can only be cut once I think before they're back at zero.

Although we're planning to return to the States soon so their bank can ease away!

This. Behave, discuss and debate arguments as presented, no ad hominem attacks and it can stay alive.

As much as a Brexit will be for the benefit of Blighty, I seriously doubt the Establishment will allow it. But we'll know either way this time tomorrow.

mcflux · 23-06-2016, 08:06 PM

A dark part of me wants to see Trump get in because I want to watch the world burn

GASWAGON · 23-06-2016, 08:16 PM

Ye some people reckon Trump is dangerous.

What worries me is if the U.S goes into another 'great recession' it could trigger a second GFC which this time would be 10 times worse than the last one in 08.

Glad I dont have a huge mortgage like alot do these days thats for sure!

Adamz Ghia · 23-06-2016, 08:38 PM

Quote:

Originally Posted by CoolBFWagon

Ye some people reckon Trump is dangerous.

What worries me is if the U.S goes into another 'great recession' it could trigger a second GFC which this time would be 10 times worse than the last one in 08.

Glad I dont have a huge mortgage like alot do these days thats for sure!

We still have a bit of wriggle room to fight a recession, our rates are 1.75% so there's room to cut and while the government is in debt a more targeted stimulus would still be achievable. Europe would fall apart, they're rates are negative in some countries and debt is so high I couldn't see where they'd find resources to fight through a recession. As for the US, when you're $19.5 trillion in debt what's another few billion?

tranquilized · 23-06-2016, 08:40 PM

Quote:

Originally Posted by Ghia5L

A dark part of me wants to see Trump get in because I want to watch the world burn

Oh man so I'm not the only one!?!?!

Things will get real interesting if he gets in, but not in a good way...

tranquilized · 23-06-2016, 08:56 PM

Quote:

Originally Posted by CoolBFWagon

Found this article today.......... Obama has been telling lies saying that the U.S economy is in great shape when in actual fact it is all going backwards and is now, after fighting off a nearly 10 year long 'great recession' is back in another recession.

Sounds like The Fed (Janet Yellen) may have to implement Quantitative Easing again? (Stimulus package).

Not a pretty sight and I reckon Oz will be in a similar position by the end of this year too.

http://www.cnbc.com/2016/06/21/the-n...ommentary.html

This doom-and-gloom really annoys me. Economic recessions are self fulfilling prophecies. If everyone just kept getting on with it the inevitable recessions wouldn't be so severe.

Speaking of inevitable recessions - they're not just inevitable, they're essential. The economy can't perpetually grow, and the belief that it can, or should, will be the downfall of civilisation.

Quote:

Originally Posted by CoolBFWagon

I wish I was Donald he's a billionaire you know.

I think he's the best man for the job in November but even Donald will NOT be able to do anything about the MASSIVE U.S debt. (19.5 TRILLION!!!)

He's a billionaire only because he inherited it, he's been squandering it ever since.

The economy probably won't seem so important if this psychopath gets in!

Trump · 23-06-2016, 09:08 PM

Quote:

Originally Posted by tranquilized

This doom-and-gloom really annoys me. Economic recessions are self fulfilling prophecies. If everyone just kept getting on with it the inevitable recessions wouldn't be so severe.

Speaking of inevitable recessions - they're not just inevitable, they're essential. The economy can't perpetually grow, and the belief that it can, or should, will be the downfall of civilisation.

Ordinarily, I'd agree with you about the self fulfilling prophecy bit, but the seeds of the United States' destruction were sown back in 1913, when their government handed currency creation over to the Federal Reserve, a model followed by almost every country since (but pioneered by Great Britain).

vztrt · 23-06-2016, 09:21 PM

Quote:

Originally Posted by tranquilized

He's a billionaire only because he inherited it, he's been squandering it ever since.

The economy probably won't seem so important if this psychopath gets in!

He is only worth 200 million....but he thinks his brand (the trump name) is worth 5 billion.

tranquilized · 23-06-2016, 09:31 PM

Quote:

Originally Posted by Loud_Noises

Ordinarily, I'd agree with you about the self fulfilling prophecy bit, but the seeds of the United States' destruction were sown back in 1913, when their government handed currency creation over to the Federal Reserve, a model followed by almost every country since (but pioneered by Great Britain).

Is that around the time when they stopped basing currency creation on gold/wealth reserves and turned it into a massive IOU ponzi scheme?

Trump · 23-06-2016, 09:37 PM

Quote:

Originally Posted by tranquilized

Is that around the time when they stopped basing currency creation on gold/wealth reserves and turned it into a massive IOU ponzi scheme?

Give this man a cigar! The final nail in the coffin was hammered in on 15 August 1971:

http://www.forbes.com/sites/briandom.../#7dbcd02f135a

mik · 24-06-2016, 01:28 AM

i dunno , the world is a different place to 40 years ago , where as countrys where sort of separated and it was every man for himself as far as economies go , we are all much more inter connected and basically it seems to me like the whole planet is in a wealth relocation process , it stands out like chihuahua goolies .
i cant see the pommies shifting out of the euro , too many people are like .... the old saying .... if your a little bird stuck in a cow pat situation , they are scared of getting out of that cow pat .
personally i dont think it would make a lot of difference either way , imo things are just going to continue with the fat cats getting richer and the salt of the earth dudes continuing with their daily struggle to get a crust , and that is currently the way f the world ........6 or 7 billion dudes on our little planet struggling for a piece of the pie that is getting smaller every day ..........
Drink more beer i say .

**Giant Cranium** · 24-06-2016, 01:46 AM

Quote:

Originally Posted by vztrt

He is only worth 200 million....but he thinks his brand (the trump name) is worth 5 billion.

after this election campaign the trump 'brand' is now worth squat.

id surely be looking at being deported if he gets in

superyob · 24-06-2016, 06:18 AM

Quote:

Originally Posted by Loud_Noises

Ordinarily, I'd agree with you about the self fulfilling prophecy bit, but the seeds of the United States' destruction were sown back in 1913, when their government handed currency creation over to the Federal Reserve, a model followed by almost every country since (but pioneered by Great Britain).

Could you please explain how that works LN? (I am a fiscal ignoramus...)

Trump · 24-06-2016, 08:58 AM

Quote:

Originally Posted by superyob

Could you please explain how that works LN? (I am a fiscal ignoramus...)

No problem at all Mr Yob.

The US Constitution gave Congress the power to create the money of the new nation (Article I, Section 8):

Quote:

Originally Posted by US Constitution

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

Section 10 also dictated that the coin could only be gold or silver:

Quote:

Originally Posted by US Constitution

No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility

They further reinforced this in The Coinage Act of 1797, where they defined the dollar by the amount of gold and silver in each coin.

However this didn't sit well with Blighty at all, as these moves basically cut off their tribute from the Colonies. As a result, the prosperity of the new nation increased in leaps and bounds and the British Establishment was not happy, resulting in the war of 1812 and numerous attempts to hand over creation of the nations money to private banks. The bankers got their way in 1913 though and the US dollar has lost 97% of its value in the years since.

The other (and far more serious) consequence of the Federal Reserve printing the nations currency is that every Federal Reserve Note is a debt-based instrument of currency (an IOU essentially). They are IOU's due to fractional reserve banking and finger snapping (almost literally, when they announced QE1, all the Fed did was create an entry in the ledger for $700 billion and there it was). This also applies to every single byte in the banking computer systems that came from the Federal Reserve (via quantitative easing and otherwise).

Does that help clarify things or have I further muddied the waters?

ford71V8 · 24-06-2016, 11:40 AM

Saw this the other day

castellan · 24-06-2016, 01:41 PM

Quote:

Originally Posted by CoolBFWagon

Found this article today.......... Obama has been telling lies saying that the U.S economy is in great shape when in actual fact it is all going backwards and is now, after fighting off a nearly 10 year long 'great recession' is back in another recession.

Sounds like The Fed (Janet Yellen) may have to implement Quantitative Easing again? (Stimulus package).

Not a pretty sight and I reckon Oz will be in a similar position by the end of this year too.

http://www.cnbc.com/2016/06/21/the-n...ommentary.html

Yes the USA is one nation that should never be getting into the mess it is, it could only be due to criminal intent, that it's in the position that it is in nowadays.
Such criminals are bleeding us all dry just like Vampires.
Don't you all remember the last crash that was created by such moronic criminals and the tax payers balled them out, well girls and boys they are coming after your Super next, what poor deluded fools one must be to support such Vampires.

Mercury Bullet · 24-06-2016, 01:42 PM

Quote:

Originally Posted by vztrt

He is only worth 200 million....but he thinks his brand (the trump name) is worth 5 billion.

He's a great salesman you've gotta admit that.

Most people have no idea about this and continue to believe he's a billionaire.

Yellow_Festiva · 24-06-2016, 01:52 PM

Quote:

Originally Posted by CoolBFWagon

I wish I was Donald he's a billionaire you know.

I think he's the best man for the job in November but even Donald will NOT be able to do anything about the MASSIVE U.S debt. (19.5 TRILLION!!!)

Saw something on ninemsn today saying he was broke?? Didn't click on it.

CoupeKing · 24-06-2016, 02:38 PM

Wrong read carry on

castellan · 24-06-2016, 02:42 PM

Quote:

Originally Posted by Mercury Bullet

He's a great salesman you've gotta admit that.

Most people have no idea about this and continue to believe he's a billionaire.

He comes across as a person who loves his nation and the old hag could not care less, all's good to her no worries at all.

Who would want a 70yo woman to be in charge of a nation truly seriously, it's just madness.

Oh hubby was the leader, I want to be the leader

I thought that USA was a democracy so what's this JB senior JB junior and JB baby Bush

bloody royalty are they !

**Giant Cranium** · 24-06-2016, 02:45 PM

Quote:

Originally Posted by castellan

He comes across as a person who loves his nation and the old hag could not care less, all's good to her no worries at all.

Who would want a 70yo woman to be in charge of a nation truly seriously, it's just madness.

Oh hubby was the leader, I want to be the leader

I thought that USA was a democracy so what's this JB senior JB junior and JB baby Bush

bloody royalty are they !

I was really hoping that you would have snuck at least one 'nazi' in there