Our tangle economic web they weave
What a mess our economy is in. Today Warren Buffet & Goldman Sachs want to buy Freddie mae’s credit why to dump the dollars they are holding to purchase a commodity at pennies to the dollar and if by chance it goes up tick bingo they make billions. Bernake announced the continued strategy to keep interests rates low so easy money on a useless dollar (quickie: Bernanke is called “Helicopter Ben” on Wall Street due to a comment he made a few years ago that he would solve the economic problem by taking a helicopter and throw money out.)
The fed seems to be playing a strategy of keeping interest rates low and commodities to increase. Oil is 80 a barrel. Problems if interests stay low there won’t be much we could purchase with a useless dollar if interests rise (which I believe they need to the market will crash.
Does any one remember pre1971 when on every dollar was a line redeemable in gold or silver?
I woke up this morning turned on the economic station to check gold was 1100 returned at 11:30 Gold had risen by $45. Silver is at $17. And that is with the country manipulating the gold market to keep the price down. Example: the IMF said they were putting 400 Tons of Gold on the market (to keep down) within 24 hours India announced they will buy 200- Tons of it for 6.6 billion and china is buying the other 200 tons.
I see no way out of this mess unless the country:
1. Stops the wars
2. Gives up health care. (That is hard for me to say)
3. Introduces a consumption tax.
4 stop the subsidies for ethanol & lower the tariff against
Brazil. and the TIF's for companies ike Wal Mart, national semi conductor leave Intel alone.
The fed seems to be playing a strategy of keeping interest rates low and commodities to increase. Oil is 80 a barrel. Problems if interests stay low there won’t be much we could purchase with a useless dollar if interests rise (which I believe they need to the market will crash.
Does any one remember pre1971 when on every dollar was a line redeemable in gold or silver?
I woke up this morning turned on the economic station to check gold was 1100 returned at 11:30 Gold had risen by $45. Silver is at $17. And that is with the country manipulating the gold market to keep the price down. Example: the IMF said they were putting 400 Tons of Gold on the market (to keep down) within 24 hours India announced they will buy 200- Tons of it for 6.6 billion and china is buying the other 200 tons.
I see no way out of this mess unless the country:
1. Stops the wars
2. Gives up health care. (That is hard for me to say)
3. Introduces a consumption tax.
4 stop the subsidies for ethanol & lower the tariff against
Brazil. and the TIF's for companies ike Wal Mart, national semi conductor leave Intel alone.
