Flashermac Posted January 1, 2013 Report Share Posted January 1, 2013 The dollar definitely sucks right now - 10 years ago US$1 got you 40 baht, now about 30. I have friends here on pensions who are not very happy, 25% decrease in income! They were all hoping Romney got in for financial reasons. As soon as Obama's reelection was confirmed, the US stock market dropped. Link to comment Share on other sites More sharing options...
TroyinEwa/Perv Posted January 1, 2013 Report Share Posted January 1, 2013 On the positive side, it only dropped 300 points this time whereas when he was initially elected, it dropped 900. So....he's got that going for him. Link to comment Share on other sites More sharing options...
Redbaron Posted January 1, 2013 Report Share Posted January 1, 2013 “The Speaker said what’s been painfully obvious to us for a long time: the President wants to go over the fiscal cliff and he’s going to get his way,†said Rep. Michael Burgess (R-Texas). ​You would expect a Republican to say this, I expect the Dem's are saying the same about the Republicans. One thing both sides are likely NOT thinking about is how this will affect families, workers, those seeking employment - real people.... other than how to make them vote next time around. Link to comment Share on other sites More sharing options...
pasathai1 Posted January 1, 2013 Report Share Posted January 1, 2013 I've got a small stack of Weimar currency - Zwanzig Milliarden etc. Smallest bills seemed to be in the hundreds of thousands. Passed down in the family as memories of bad times. I still have a wad of rhodesian dollars. ( enough to buy a slice of bread when I left) Link to comment Share on other sites More sharing options...
Plainsdrifter Posted January 1, 2013 Report Share Posted January 1, 2013 Plainsdrifer, you are familiar with the term 'hyperinflation', arent you ? http://en.wikipedia....Weimar_Republic That's what happens when you try to print your way out of trouble. I have a feeling that the Fed has a few reasonably smart guys who may actually know that - I guess time will tell. Understand your meaning GD, however the US currency serves as a worlwide reserve currency so a comparison to the Weimar Republic era isn't quite accurate. I do agree if this printing continues, another currency may begin to be favored as a reserve. Non in sight though. About the congressional agreement on the fiscal cliff, I expect the House to vote on it in the next five hourse and the leap averted. Why 5 hours? That is when markets in Asia begin trading.... Link to comment Share on other sites More sharing options...
gobbledonk Posted January 1, 2013 Author Report Share Posted January 1, 2013 They eventually agreed on a tax hike for anyone earning over 400K USD (450K for coules), but IMO its the serious half of the changes that they have 'put off' for another two months - the spending cuts. I was led to believe that the cuts were designed to give the US a shot at servicing their debt to China - I'm no expert, but debts like that accrue huge interest bills each and every month. We'll be back at the top of that cliff in February, with the same ship of fools wringing their hands and 'wishing' they could agree on a compromise. Link to comment Share on other sites More sharing options...
dean Posted January 1, 2013 Report Share Posted January 1, 2013 That idiot Eric Kantor says he doesn't support the bill passed by the Senate. Late last night, I sent an email to my Representative, Republican Kevin Yoder. He's only been in office for 2 years but is already infamously known for going to Egypt on a fact finding tour, and jumping off a boat in the Red Sea naked (while being watched by others, including families that were on the boat). I told him it would be a cold day in hell before I voted for any current Republican Congress person for any political office. As he was not opposed in the last election, I doubt if this will put a scare into him. Link to comment Share on other sites More sharing options...
cavanami Posted January 2, 2013 Report Share Posted January 2, 2013 Now reading a book about Hennie Himmler...they mention the HUGE inflation in the 20's in Germany...prices going tripple in three months and what not!!! Link to comment Share on other sites More sharing options...
gobbledonk Posted January 2, 2013 Author Report Share Posted January 2, 2013 Cav, I think you need to re-read the Wikipedia article linked to above - the poor devils caught up in the Weimar madness would have considered 'triple' in 3 months' to be the stuff of dreams ..... Link to comment Share on other sites More sharing options...
Plainsdrifter Posted January 2, 2013 Report Share Posted January 2, 2013 They may still get the House Republicans to go along. Ultimately, they may also get the Republicans to take the rap for whatever happens in the economy. What bothers me is how nobody is able to see that unless the deficit is actually eliminated or reduced the country and the world is in for lot of bad. Too many are trying to pin the blame on someone. Link to comment Share on other sites More sharing options...
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