Last of a dying breed...

[Lusche]

My first main ride was a Russian one.
I have more kills in German planes than in those  any other nationality.
But the plane I have most kills in is a British one.
Three or four tours out of my ~70 total had a distinct country "theme", but I always found it to be incredibly boring after two weeks.

I started as Bish in 2005 (can't remember what side I was on in 01), then went Rook in 2006 and later became a Knight. Lost track of my cartoon nationality since then.


Seems my cartoon patriotism is quite underdeveloped.   

[Brooke]

Current?  Methinks you need to read some history of the last 30 years or so.

I'm not a great expert by any means, but one of my hobbies is financial and economic history.  Here's a graph from the Fed that covers the last 100 years in the US and is the source of my above opinion.  The current administration stands out uniquely.

[33Vortex]

Don't worry -- our current administration loves to print money by the trillions.

Oh, but that's not the doing of the administration, you are giving them too much credit!  

The Federal Reserve is a private bank, has nothing to do with federal government, other than perhaps buying its services... 

[Brooke]

Oh, but that's not the doing of the administration, you are giving them too much credit!  

The Federal Reserve is a private bank, has nothing to do with federal government, other than perhaps buying its services... 

True, but I suspect that the Fed usually has gone along with most policies of the administration of the day.

Also, a lot of the money doled out was under control of the government (not the domain of the Fed alone):

February 2009
$787 Billion Stimulus Package – Average Americans Bailout
February 2009
$275 Billion Stimulus Package – Homeowners Bailout
March 2009
$30 Billion Stimulus Package – AIG Bailout
March 2009
$15 Billion Stimulus Package – Small Business Loans
March 2009
$1 Trillion "Toxic Asset" Program – Banks Bailout
March 2009
$22 Billion Stimulus Package – Automakers Bailout

[33Vortex]

'A lot', perhaps. Not the majority of it. Don't kid yourself though. In the words of Alan Greenspan when asked the question if the president can order the fed what to do; "No other federal institution can overrule any of our actions." Oh and there he go implying that the fed is a federal institution.

2.5 trillion to Citigroup under the table? A total of ~16 trillion USD in zero-interest loans without repayment obligations to private banks around the globe between dec 2007 and june 2010. Is that a good monetary policy at a time when the debt is over 14 trillion? For the fed perhaps, not for the people no.

And to imagine that the space program could have been saved for a measly 4 Billion, is that true?

All of this money is credit. In other words it's worth no more than a breath of fresh air.

[zack1234]

Japan been in debt for past 20 years

They seem to carry on

Everyone who bought on credit are to blame as well not just the banks, people used to save up for things

These loans are to keep the credit system going for another 20 years, so the likes of those with credit cards can buy things because they are to stupid to save up for

I bought my 2011 ford focus with cash i saved, thats a strange way to buy things with real money not borrowed of a greedy money lender bank

Poland is one of the few countries in europe thats not been effected by the recession

[33Vortex]

I'd like to have what you're smoking. I see the credit system struggling in the coming 20 months, the 20-year scope just isn't there. When the USD lose its world currency status the USA will experience a +25% loss of living standard. China is spending their USD wisely, buying up everything they can lay their hands on and price is not the issue to them. They just want to get rid of their USD without raising too much suspicion.

[Brooke]

Vortex, I think we both feel the same way about it. 

All of this money is credit. In other words it's worth no more than a breath of fresh air.

Until it doesn't get repaid, then you and I get to pay it back with real money.

[33Vortex]

No... we pay it back with our productivity, forget money. Our productivity and that of our children, and grandchildren...

I don't think many people realize what's at stake. Earlier this year the US federal budget went past the tipping point. Point of no return as it's known to pilots. Even if taxes were raised to 100% the federal budget would not balance out. That means it's officially out of control.

What can be done about it? Get rid of the fed, they are the root cause and we owe them nothing. It's all smoke and mirrors.

[zack1234]

Vortex, I think we both feel the same way about it. 

Until it doesn't get repaid, then you and I get to pay it back with real money.

Silly people buying on credit are to blame

In Germany they save up for things they want by putting it in the bank

In the US and UK they spend spend on credit cards and cry like babies when the debt needs paying back

It is called "MONEYTARISM" to coin a economic term

Yes China is buying up debt so silly people can keep buying what they should not really have

China cannot feed itself, the biggest exporter of food products to China is the...........USA

I like Chicken fried rice and king prawns in blackbean sauce every Friday night paid with cash

[Lusche]

Silly people buying on credit are to blame

In Germany they save up for things they want by putting it in the bank :banana:old:

Must be a different Germany than the one I'm living in 

[zack1234]

You have 200 billion in gold reserves I believe?

Have you paid that Greek debt off by the way

[Lusche]

You have 200 billion in gold reserves I believe?

I was referring to private individuals. "they  they save up for things they want by putting it in the bank". Consuming on credits is rampant. Over-indebtedness even at a young age is not a rare thing. The times have changed.  

Have you paid that Greek debt off by the way

I pay nothing to nobody. No taxes for me 

[zack1234]

You pay no taxes you a Junker?

[321BAR]

True, but I suspect that the Fed usually has gone along with most policies of the administration of the day.

Also, a lot of the money doled out was under control of the government (not the domain of the Fed alone):

February 2009
$787 Billion Stimulus Package – Average Americans Bailout
February 2009
$275 Billion Stimulus Package – Homeowners Bailout
March 2009
$30 Billion Stimulus Package – AIG Bailout
March 2009
$15 Billion Stimulus Package – Small Business Loans
March 2009
$1 Trillion "Toxic Asset" Program – Banks Bailout
March 2009
$22 Billion Stimulus Package – Automakers Bailout

didnt know the "current" administration passed all those bailouts they were all signed on the dotted line before the current administration stepped into office...

now can we get this thread back on track with my next post?