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  #16  
Old 10-18-2013, 02:27 PM
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waiting to hear if BC pulled the $49/yr trigger.

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  #17  
Old 10-18-2013, 03:24 PM
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The 3 URLs provided by MTI portray Porter Stansberry as another snake oil opportunist. Can't say I'd argue with the findings in them.

But...how much longer can the U. S. dollar remain the reserve currency with things going the way they are?
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  #18  
Old 10-18-2013, 04:00 PM
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Originally Posted by Brian Carlton View Post
Let see if you can refute it...........rather than simply malign the source.

Good luck with that request.
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  #19  
Old 10-18-2013, 04:21 PM
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I guess I don't what a "liberal" is.

I don't think that "liberal" is a useful noun. It does better as an adjective. It also helps to recognize that "liberal" has no fixed definition. The people who are considered liberal now would be considered conservative thirty years ago. In no way, shape, or form would I describe the people who have been running the government since 2000 as anything like liberal. They also aren't conservative because they abandoned time-tested ways of managing the government's finances.
I'm using "liberal" as the opposite of "conservative".

If they aren't conservative, and they aren't liberal.............what would you call them?

Liberals are fine with supporting the oppressed without regard for where the money comes from. By that definition, they are Liberal.

Liberal with spending.
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  #20  
Old 10-18-2013, 04:23 PM
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Originally Posted by MTI View Post
waiting to hear if BC pulled the $49/yr trigger.
You bet I did.

I'm still waiting for you to refute anything that he stated in the link.............if you even bothered to listen to it.
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  #21  
Old 10-18-2013, 04:26 PM
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Originally Posted by greazzer View Post

What happens when the interest on those debts jumps to around 3.7% ? Almost every penny we rake in will need to go to interest payments. That of course ASSUMES we will not spend one more cent on any government spending. It all goes to interest payments.
The offered link shows this to be a near certainty. As the world realizes that it is not worth maintaining the dollar as the world's trading currency, there is no reason for the Chinese to keep investing in dollars for a very small return.

Accordingly, the Government will have to pay more interest when that happens.
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  #22  
Old 10-18-2013, 04:28 PM
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Setting aside any personal attacks on "Porter Stansberry", whoever he is, here are some facts about the World' Reserve Currency Issue:

Year 1999: US Dollar was 71% of the world reserve currency
Year 2012: US Dollar was 61.20% of the world reserve currency

In 13 short years, it dropped 9.8%

The US economy has slid from a peak of 32.2% of world GDP in 2001 to 23.7% currently, or a 8.5% drop.

Looks like 9.8% and 8.5%, respectively, seem to go hand-in-hand to some degree.

Dollar 'losing grip as world's reserve currency' - Currencies | IOL Business | IOL.co.za

Quite frankly, the media and those who benefit from the federal gifts may be satisfied by BO's endless campaign speeches, but money and the real global players could care less. Because the decline seems to have been accelerating as the debt grows and the debt-acceleration go hand and hand, I am thinking the decline will speed up much quicker in the next few years. I am also guessing that our consitutional scholar of a president will somehow blame Bush, who does in fact have a share of the blame, but our BO has made it a point to rapidly increase the debt.

I wonder why ?
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  #23  
Old 10-18-2013, 04:37 PM
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Originally Posted by greazzer View Post
I wonder why ?
Because, without the will of the Congress to slash Medicare, Medicaid, and S/S, it is effectively impossible to control the outflow.

He can cut the budget by 2-3% and that would be extremely difficult.

Since cutting those programs is akin to touching the third rail, it isn't likely to happen to the levels required.

We stand on the tracks staring at a train and folks like MTI cannot even see the damn thing.
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  #24  
Old 10-18-2013, 04:44 PM
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Originally Posted by Brian Carlton View Post
We stand on the tracks staring at a train and folks like MTI cannot even see the damn thing.
Yikes!



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  #25  
Old 10-18-2013, 04:46 PM
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Originally Posted by Brian Carlton View Post
Because, without the will of the Congress to slash Medicare, Medicaid, and S/S, it is effectively impossible to control the outflow.

He can cut the budget by 2-3% and that would be extremely difficult.

Since cutting those programs is akin to touching the third rail, it isn't likely to happen to the levels required.

We stand on the tracks staring at a train and folks like MTI cannot even see the damn thing.
I think you have intentionally or inadvertantly hit upon the spectrum of the views:

On one end, there are folks who believe our BO wants to destroy or radically change the US. One way is to destroy the US Dollar. Destroy the dollar and you will destory the USA

On the other end, it's simply a matter of being ignorant and a career politican who will do anything for a vote ... even if it means bringing down the system which gives him a job, status, and BO's sense of existence.

Either way, the next 3 years will be interesting.

The next issue will be tracking or monitoring the decline of the US Dollar as the worlds reserve currency and how much the USA is the global GDP.

Those trends will speak volumes ...
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  #26  
Old 10-18-2013, 04:54 PM
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What I've heard so far is compelling. I've been uneasy for some time now. Not just on the borrowing/monetary thing but on the sheer volume of stuff we consume, the level of which cannot continue. As we head further out on that limb, our talents for doing w/o such things declines. The use of phony money is somewhat similar to that.

Obama is not a complete fool but he reminds me of Bush in that both have/had a breezy sort of belief in their own mind, more than is merited. Pride/arrogance going before a fall.
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  #27  
Old 10-18-2013, 04:58 PM
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Without hi-jacking the thread, I just had a mini-discussion with a buddy who is much more left leaning than myself. I posed the following question: How much debt do you believe the US government can handle or conversely, at what point would a certain amount of debt become untenable for the government. His response: there's no limit ... we could incure endless amounts of debt ...

I am thinking this is the voting majority's view and most likely the view on this forum. I do find this shocking.
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  #28  
Old 10-18-2013, 05:01 PM
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Originally Posted by greazzer View Post

I am thinking this is the voting majority's view and most likely the view on this forum. I do find this shocking.
There is a fundamental problem with those folks:






They cannot see clearly.
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  #29  
Old 10-18-2013, 05:16 PM
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Originally Posted by Brian Carlton View Post
I'm using "liberal" as the opposite of "conservative".

If they aren't conservative, and they aren't liberal.............what would you call them?
To me, "radical" is the opposite of "conservative." A conservative person values tradition. He prefers the tried and true. GWB, to take one example from the time period you cited, rejected conservative principles when he changed the criteria for invading foreign countries and did it on our credit card. In that respect and in many other respects he rejected the tried and true. He was not conservative and he sure as heck was not liberal. The best word to describe him and his administration is "radical." IMHO.
Quote:
Liberals are fine with supporting the oppressed without regard for where the money comes from. By that definition, they are Liberal.

Liberal with spending.
I'm not sure history supports you on that. The GOP, for example, takes a back seat to nobody when it comes to spending money.
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  #30  
Old 10-18-2013, 05:21 PM
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Quote:
Originally Posted by Brian Carlton View Post
Because, without the will of the Congress to slash Medicare, Medicaid, and S/S, it is effectively impossible to control the outflow.

He can cut the budget by 2-3% and that would be extremely difficult.

Since cutting those programs is akin to touching the third rail, it isn't likely to happen to the levels required.

We stand on the tracks staring at a train and folks like MTI cannot even see the damn thing.
I don’t see why we can’t take a little hair cut off the top SS wise. I don’t mean people on SS as the sole or primary income. But people like many here who would use SS as play money.

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