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Tuesday, Jan. 15, 2013 | 2:01 a.m.
Another view?
View more of the Las Vegas Sun's opinion section:
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Each year, 4 billion $1 bills are printed. Keep the presses going by printing $1,000 bills instead of $1 bills.
This would created a surplus of $4 trillion and enough to cover the deficit for three years. As a result, you could stamp dollar coins and do away with pennies and nickels.
Inflation is coming anyway, so let’s give it a kick start so the U.S. can move toward Third World status sooner. I’m 80 years old and now believe I will live to see the demise of the dollar. Congress will see to it.
Borrowing and Printing and spending money is all Obama knows today. While running running for President Obama called Bush UNAMERICAN running a $150 billion deficit.
Under Obama he has increased the debt by $6 trillion and at his direction the Fed has printed $2.5 trillion which has been used to buy toxic mortgages to bailout banks.
This is ruining our kids future. Greece is our future
Bush had $5 trillion in new debt in eight (8) years
Obama had $6 trillion in new debt AND printed $2.5 trillion printed for $8.5 trillion in four (4) years - $2 trillion per year
Obama said in the press conference "We are not a deadbeat nation." trying to explain why spending on free stuff was going out of sight and we should pay our debt off.
Obama says "Just let me pay the bill" - WITH YOUR MONEY. You don't go out to dinner and not pay the check.
And while the Revenue will cover 70% of spending Obama said the nations bills he would not pay were Social Security and Medicare and our troops in Afghanistan. Free cell phone, free abortions, free food stamps, free etc will still be paid.
When the CBO said it would be A trillion for the Iraq WAR - Future said nothing, now he complains about the interest on the Bush Wars he supported.
Mred here is what Obama said
March 16, 2006 Senator OBAMA said raising the debt ceiling was "A sign that the U.S. government can't pay it's own bills...Washington is shifting the burden of BAD CHOICES today onto our children and grandchildren...AMERICA HAS A DEBT PROBLEM and a FAILURE OF LEADERSHIP."
Obama has increase the national debt from $10.6 trillion to $16.5 trillion ($1.25 trillion per year) since he took office plus he has printed $2.5 trillion in new bills which is why Greece is going under.
Obama has deficits in one year that exceed the cost of 10 years fighting in Iraq
The wars are over yet Obama is still running trillion dollars deficits. Why?
----
US minted money, coins and bills, once had intrinsic worth and value. Coins had precious metal content. Bills were gold certificates. No more. Coins and bills are worthless except for the backing of the full faith and credit of the US government. Sadly, we have a Federal Reserve Chief and Treasury Secretary who have played politics with fiscal and monetary policy, ala Paul Krugman and keynesian economics, and devalued the US currency by their actions.
CarmineD
I could be wrong, but it appears to me that Future and many others want to minimize the spending, the low taxes and the deficits under former President Bush and Republicans.
I could be wrong but it seems to me that Mred and others like him want to minimize the spending, the low taxes and the deficits under President Obama and the Democrats.
And that's the real problem isn't it? Half of us fail to acknowledge that 'our' side was in large part responsible for creating this financial mess and the other half fails to acknowledge that 'their' side is responsible for not properly addressing the financial mess that exists today.
Bin Laden was intent on destroying America with the attack on 9/11. Initially it looked like he failed, but a closer look might reveal that he was more successful than he ever dreamed possible. We now seem more divided than ever, unable and unwilling to take responsibility and unable to unify and take tough and unpopular actions.
Michael
Michael - nobody dismisses the spending under Bush. Proof is that republican sat out of the 2006 election in revolt of their representative. That is why Reid and Pelosi took over Congress January 2007.
Fact is the Bush FY-2007 deficit was $160 billion. And that why Republican sat out the elections.
So do not say republican agreed with no controls on spending we did in nov 2006 and we do today.
Geez Carmine, stick to facts please. The United States, five years through a serious recession and a poor recovery is by far the strongest economy on the planet. Other countries buy our debt and our currency because it has value and stability. In small amounts the debts trades at zero or sometimes negative interest. Our inflation rate in minimal, subject primarily to energy and agriculture cost swings. The currency has been devalued in comparison to what? Go back to the 1890's and argue your ludicrous free silver-gold arguments. Honestly, when I read your comments I'm reminded of Eyeore from Winnie-the-Pooh.
Carmine won't get this or the writer, much less the editor who picked this uninformed letter but:
http://www.theatlantic.com/business/arch...
Future,
You are wrong. There are many people on the Republican / Conservative side that DO dismiss the spending under Bush.
It won't make any difference to people like Mred, but the counter argument to Mred should not include pointing out that Bush deficits were less than Obama deficits. That cheapens and lessens the argument.
What Bush did was totally irresponsible and that should always be pointed out and admitted. Then, we should go on to say that what Obama is doing is totally irresponsible. This foolish 'equivalency' argument should not be part of the discussion.
That's all I am saying. I certainly do not agree with Mred, who thinks Obama is doing a great job, but when Mred criticizes Bush, he is .... correct.
Michael
Michael meanders is his redundantly melancholy way:
"And that's the real problem isn't it? Half of us fail to acknowledge that 'our' side was in large part responsible for creating this financial mess and the other half fails to acknowledge that 'their' side is responsible for not properly addressing the financial mess that exists today."
I say:
You assume facts not based in reality, and are once again on with the scab picking "neener neener neener, both sides are bad recording. It doesn't have a good beat, you can't dance to it and it has a scratch.
Everyone knows that both sides have some culpability and while you and me will disagree on the percentage of blame to be allocated (80% republicans blame IMNSHO) the question is who is better situated to bring sanity to the process?
Is it a core of democrats that can peel off republicans like Peter King of New York, or will John Boehner cling to the Hastert rule (No legislation is brought to the floor unless it has enough votes to pass) which chokes any compromise?
Could the Tea Party republican caucus peel away democratic votes like Jim Mathesom to get a bipartisan result in the house?
It seems that the primary bottleneck Michael RIGHT NOW, is the house. The house is being run by republicans. They are great at passing anti abortion bills (31 last congress), but horrid at passing something that gets 65% of the votes in the house.
I would LOVE to get in Dingy Harry's face for blocking progress to bills passed by the house with a healthy smattering of democratic votes and a few republican (DeMint acolytes) defections. I would get front and center hauling Harry over the coals for his obstructionism if he had ANYTHING bipartisan to obstruct.
I am at Boehners throat right now, think he is the worst speaker in the last hundred years. You REPUBLICANS need to turn on him to affect change. You allow him to wear my disdain for him as a badge of courage.
We are, hate it or love it, stuck with Obama, Reid, Boehner, Cantor, and Pelosi. A fair reading shows the bottleneck is orchestrated by the Speaker.
It's up to republicans to get Boehner to grow a pair.
In every situation there is a logical next move. If you guys sit on your hands, we can't help you. Quit rewarding these people with your support. We will get our side to behave too, when it makes logical sense.
-- How the US sent $12bn in cash to Iraq. And watched it vanish --
Read all about it! Pallets of shrink-wrapped one-hundred dollar bills disappear into thin air during the bungled Iraq invasion! Read all about it!
http://www.guardian.co.uk/world/2007/feb...
"Fiscal conservatives" sold us down the river a long ago. But as Donald Rumsfeld used to say, "Stuff happens."
George, HELLO. What do you think the Federal Reserve has been doing? Ever bother to look at the "value" of the dollar--keeps shrinking next to the EU--even with Greece and other challenges. Gee, how can that be happening?
"the "value" of the dollar--keeps shrinking next to the EU"
Q: Is there a poster on this forum who brings more BS to the discussion than the one who posted this nonsense?
A: No one else is even close.
The chart in this link sets the record straight on the USD vs EUR over the last decade. (FACT: The EUR killed when Bush was president. Since Obama took office, not at all.)
http://www.x-convert.com/chart/EUR-USD?p...
Michael living in the past is nonsense
But since you persist let me repeat. REPUBLICAN SAT OUT THE 2006 ELECTION CEDING CONTROL OF CONGRESS TO REID AND PELOSI . MILLIONS OF REPUBLICAN SHOWED THERE EXTREME DISPLEASURE WITH THE HUGE SPENDING - $160 billion in deficit.
We are living here and now
The deficit is averaging $1.2 trillion every year. Obama has submitted budgets every year of more than a trillion dollars
Every year for the next ten years is budgeted by Obama to be more then a trillion dollars
Obama will not identify any limits on growth of spending or any control of spending
Living in the past does no solve today's problem
Jeff,
and I quote 'We will get our side to behave too, when it makes logical sense.' Well, isn't that great! Both houses of Congress now routinely allow their leadership to prevent bills that they don't like from coming to the floor for debate and a vote. That practice really does promote debate, compromise and an up and down vote, now doesn't it?
I am pro-choice and I would not support bills banning abortions, although I am not in favor of most abortions that happen because people act stupidly and irresponsibly. That said, if a group of our representatives passes 31 bills to ban abortion, my view is that they should all come for a vote in the Senate and be defeated. The same is true with any bill in the Senate. All bills should at least be brought to each chamber. I am not a big fan of using committees to kill bills either.
We have two armed camps, one in the Senate and one in the House. You at least acknowledge that the Senate doesn't do what they should do, but until we demand that both houses actually bring all bills (even ones they consider not worthy) up for consideration, we are all screwed.
Michael
"Geez Carmine, stick to facts please. The United States, five years through a serious recession and a poor recovery is by far the strongest economy on the planet" @ Pat Hayes
That's not saying much according to the facts. Europe has unemployment of 12 percent. Persons in Europe under 25 has an unemployment rate of 25 percent. And the PIGS, Portugal, Italy, Greece, and Spain, are worst. US is headed in the same direction as Europe.
CarmineD
"Go back to the 1890's and argue your ludicrous free silver-gold arguments." @ Pat Hayes
Check the prices of gold and silver lately. All time highs. Why? Flight to safety: precious metals.
CarmineD
Michael:
Your prevarication once again, and lack of leadership skills is duly noted, as usual.
"Carmine won't get this or the writer, much less the editor who picked this uninformed letter but.." Mark Schaffer
I read it and others like it. I can quote chapter and verse of articles and opinions that say just the opposite. Like I posted to Hayes above: Check the prices of gold and silver.
CarmineD
"Portugal, Italy, Greece, and Spain, are worst. US is headed in the same direction as Europe."
Let's face it, right-wingers should stay away from making predictions.
Remember when some posters on this site predicted gas would cost $6 a gallon before the November elections, and that it would sink Obama's reelection chances? LOL, I remember.
De facto. No congress no inflation.
Jeff,
I may forget and if I do, please forgive me, but I am going to make an effort to not respond, directly, to your comments going forward. To communicate with you serves no useful purpose. You are of course free to comment on what I write, but I'll most likely not respond directly to you.
Michael
http://finance.yahoo.com/echarts?s=FXE+I...
Let's put some facts on the board regarding this topic also. Look at the above chart and go back 10 years. Roslenda says the dollar keeps shrinking versus the euro. Bull! The dollars is at about the same spot it was in 2007 versus the euro.
The letter writer says inflation is coming. 70% of inflation is wages. When you start seeing double-digit wage increases you will see strong inflation. Wages have been stagnant for decades. Inflation has been the weakest that it has been since the end of the depression. Social Security recipients like my wife have been lucky to get any cost-of-living increase whatsoever because inflation has been so muted. I think she just got a $22 bump. I told her not to spend all of her new found wealth in one place.
Europe and the United States are dealing with the exact same problems. Aging populations, very long life expectancies and costly entitlements. Mainly medical care! Debt is being created at an astronomical level to cover the costs of these entitlements and keep taxes low to promote business activity.
That being said output in Europe and output in the United States is at an all-time high. Technology like robotics and machines used in manufacturing are keeping costs low and margins high. Companies the world over are doing fine but unemployment is high by historical standards.
This is likely to be the trend going forward. Higher than trend unemployment. Decent corporate profits and high productivity and output. The downside is very high deficits. They will be dealt with through monetary manipulation in the next 50 to 100 years.
FYI:
Although the general or more common use of the acronym, PIGS, refers to Portugal, Italy, Greece, and Spain, which could be acceptable. I believe it is more accurately defined as PIIGS, which is Portugal, Italy, Ireland, Greece, and Spain.
FYI:
Republicans hate Europe, so using the acronym, PIGS is more enjoyable for most of them.
@Carmine...dissembling again. Your two posts do not refute the facts: the United States continues to have the world's strongest economy; our currency and our debt is highly desirable to the extent that it is routinely purchased and used as reserves;our inflation rate is minimal with swings primarily attributable to commodities. No one disputes that it would be better to have a more robust economy...actually, that isn't quite true. There are folks who believe that our current economic conditions drive down wages, discourage trade unions, reduce the size and influence of the public sector and transfer wealth to "creators"....they really like this economy.
You cite EU17 unemployment and refer to the PIGS as worse. While your Southern European brethren are notoriously corrupt and inefficient, the more industrialized European nations [that's the crummy Commie Socialists of Jerry's fevered delusions] seem to be doing better like 5.4 to 8% range, same as or slightly better than us.
Inflation...what inflation. Six months ago I was paying 4.25 a gallon for gas, last week I paid 2.99; my propane cost 2.09 a gallon delivered out here in the boonies; fresh veg, fruit and especially meat is always on sale; our power company [PUD] held rates firm again though we pay a storm damage surcharge to replace 5000 poles blown down in a storm.
Really, I have no clue as to where you guys get your information. Five minutes of simple research blows most of your underlying data right out the door.
The smaller European countries that are often mentioned Peaked as economic superpowers hundreds if not thousands of years ago. Don't forget Greece gave us Plato, Aristotle and Socrates. Greece gave us the first institutions of higher learning as well as medicine. They have all played their part in world history.
It's not easy for a small non-industrialized nations to compete against countries like the United States and China. They're doing the best they can given the circumstances.
Michael said:
"but I am going to make an effort to not respond, directly, to your comments going forward. To communicate with you serves no useful purpose. "
I say:
We finally agree, thank you. Best of luck to you.
Michael Casler,
What an interesting comment, how intriguing that you were compelled to politely say I am not going to respond to you anymore, but if I do please forgive me? Forgive you for what? I viewed this comment as strangely interesting and questioned the motivation behind the comment, which is what compelled me to ask these questions. Was it your intent to let everyone know that you are no longer going to respond to Jeff? Don't you think an email message to Jeff stating your position would have been more respectful and polite? Also, why didn't you just stop replying instead of writing a Dear John letter? What were you trying to accomplish? Well, I suppose everyone has their own way of dealing with situations and this is your way.
I was surprised Mr. Casler didn't brush off Jeff earlier than he did. Jeff's more interested in political rhetoric than debate. Jeff has continuously fallen short of seeing both sides of an issue and has a destabilizing grip on reality. Change is both argument and action so debate is important to understanding the many sides of an issue. Mr. Casler has engaged many of us respectfully in debate. I can't quite say the same about Jeff just yet.
I find it amusing how many people consider themselves to be experts in macroeconomics.
One would be tempted to believe that to earn a Ph.D. in the subject, all one has to do is read The Wealth of Nations and then sit around with other econ grad students and talk about the book for the next six or seven years.
Carmine......
Today I bought gas for my car.
I paid cash and no questions were asked.
Than I went to the market and bought food.
I paid cash and no questions were asked.
Cash is still king.
And the dollar will be here until the end of
time.
Try to buy gas or food with gold and see what
happens.
And a while back, I went to a gas station and
the credit card machine was not working.
Four or five people were standing around waiting
for the credit card machine to start working
again.
While they were standing around with their thumbs
in their rear ends, I paid cash, went out and
filled my car up and drove off.
YES, cash is still king.
Mrs. Freeman said:
"I was surprised Mr. Casler didn't brush off Jeff earlier than he did. Jeff's more interested in political rhetoric than debate. Jeff has continuously fallen short of seeing both sides of an issue and has a destabilizing grip on reality. Change is both argument and action so debate is important to understanding the many sides of an issue. Mr. Casler has engaged many of us respectfully in debate. I can't quite say the same about Jeff just yet."
I say:
Michael, I have faith, means well, but has become monotonous IMNSHO. It is better if he doesn't address me. Maybe we could talk music and...
You, on the other hand I have little faith in. You have, by your own words, been an outsourcer and union buster. I think it possible that unless you repent you are not destined to go to heaven. With the lies and misleading information you provide here, I am sure glad I am not in your shoes.
I feel somewhat badly about Casler, but I don't want to be on the same planet with you. Maybe there is a side to you that is not so hideous, who knows?
Jeff,
The link below is an example of your extreme rhetoric. You suggested young Hispanics and young Black men to arm themselves and shoot and kill old white men. You wrote:
"In other words if we have a new trend of young Hispanics and young Black men shooting and killing old white men using the George Zimmerman defense, the traditional gun nuts will get behind some sanity with the nations gun laws".
Jeff, your rhetoric is pretty extreme and crosses a line. What role does your destructive rhetoric have in a debate? You feigning anger, being irritated, frustrated or disappointed is so contrived. Your contrived anger which leads you to call out groups to hurt/kill others is extreme Jeff. I don't mind your comments about me because you don't know me. However, your extreme rhetoric says more about you and removes logical thinking from your argument. I would suggest channeling your passion towards refining your argument points and ratchet down the extreme rhetoric a bit.
http://www.lasvegassun.com/news/2012/dec...
"@Carmine...dissembling again. Your two posts do not refute the facts: the United States continues to have the world's strongest economy; our currency and our debt is highly desirable to the extent that it is routinely purchased and used as reserves;our inflation rate is minimal with swings primarily attributable to commodities." @ Pat Hayes
If what you say is TRUE, and not just that you believe it is, precious metals would not be at all time highs on the world markets. And US Treasuries, despite the Fed's action to devalue the dollar with QE to infinity, would be yielding better rates of returns than the unemplyment rate. Last I checked, the demand for 10 year Treasuries, US Notes, was so low the auction was cancelled and not rescheduled. While prices of precious metals are staying high along with demand. Why?
CarmineD
"Let's face it, right-wingers should stay away from making predictions.
Remember when some posters on this site predicted gas would cost $6 a gallon before the November elections, and that it would sink Obama's reelection chances? LOL, I remember." Last Throes
You forgot it was former Governor Palin and other GOP oil watchers who told the president for months, while gas prices were going through the roof, to increase the margin requirements on futures. Rather than keep them at zero and allow speculators to bid up prices. What happened? Obama issued an Executive Order to do it. And oil/gas prices came down precipitously.
Go back here and note where I posted that the President should do this [raise the margin requirements] for weeks before he did. And when he FINALLY did, I praised and applauded him for doing so AND STILL!
CarmineD
"Cash is still king.
And the dollar will be here until the end of
time.
Try to buy gas or food with gold and see what
happens." @ Teamster
I don't deny you're right. But....value is minted paper is printed.
CarmineD
Zippert: Cart before the horse AGAIN. Wage increases are often COL's and the result of inflation. The Federal Reserve is playing with inflation--by keeping interest rates so low the inflation morphs into decreased dollar value. And, you don't think a 10% decline in the dollar in the last year or so is of note. Well then focus your mind on something else. Interesting how we devalue production (manufacturing and individual output) and go blind at the natural results--weaker dollar, inflationary pressures, degradation in standard of living....
Precious metals at all time high? Carmine is wrong about gold specifically:
http://inflationdata.com/Inflation/image...
Mrs Freeman said:
"Jeff, your rhetoric is pretty extreme and crosses a line. What role does your destructive rhetoric have in a debate? You feigning anger, being irritated, frustrated or disappointed is so contrived. Your contrived anger which leads you to call out groups to hurt/kill others is extreme Jeff."
I say:
Dropping all pretext of assuming your points of view are rational is what you are labeling "Radical". To claim I advocate for one group to shoot to hurt and kill others is just absurd, and you know it. My point is, that statistically the groups I called to arms are underrepresented in the ownership of guns, further, you drop the other groups I mention -- women & non whites -- in the traditional republican fear model utilizing the arming of "Blacks and Hispanics" as if they as a group are less deserving of gun rights than the people now in possession of firearms.
Let's look at your position on guns recently:
"Protecting students is something we all value so it should be a priority. How do we best accomplish this goal? We can't solve it with passivity, resignation and cynicism to ideas that could achieve this goal. One key word here is "protection". The other key word is "prevention" or solving the root causes that lead to school shootings. We need a comprehensive approach that both protects students and leads to reducing or eliminating the root causes to school shootings."
It all sounds so reasonable and logical, till we see your recipe for this "protection"
Once again, quoting you:
"Retired cops and military personnel would be a great pool of trained talent to monitor exterior school entry doors and to communicate any signs of trouble to an in-school police officer who can't be everywhere at once. A prerequisite would be passing a background check, being in good physical condition and going through training for the role. I think many younger active seniors would welcome the opportunity to add additional purpose to their life and to give back to their community."
That's right, a volunteer pool of "Geezers With Guns" employing prison guard mentality scouring the urinals looking for the next Lanza. That's the ticket. People who want to spend their golden years volunteering to patrol the local schools.
http://www.lasvegassun.com/news/2012/dec...
You are not a serious person, you are a demagogue for corporate America.
As I have told you before (Quoting myself):
"This is the prototypical Fox News style sliming of people that don't fit in their ignorance box.
I have never told a lie on these boards, but unfortunately, truthfulness and veracity is not addressed in the comments policy here at the Las Vegas Sun website. If it was, 90% of your comments, and huge majorities of comments by other right wing posters would disappear.
In the end, it is not about me, it is about a better way of life for all Americans, IMHO. That is a fact you have a real hard time understanding, because your lot thoroughly dislike the "47%".
You can misquote me all day and night, because the truth is a casualty of the first amendment (enshrined in the law as a favor to Fox news by Scalia, Thomas, and that bunch) and it will be allowed here. But you and me both know who has the righteous position, and isn't the one with the androgynous first name."
"Precious metals at all time high? Carmine is wrong about gold specifically..." Schaffer
You're splitting hairs. In 2003, gold was $200 an ounce. Today it is $1670 an ounce. That's not because the dollar is a safe haven. Just the opposite. When investors lose confidence in the dollar, as they have over the past two presidential administrations, they flee to safety. That's precious metals. Value is minted, paper is printed.
CarmineD
This leaves only one question, Iraq's Fund was provided financially by Iraq ? By whom/ whose money ?
What is this missing banking system all about.
if you all want to save tax dollars, tell incoming presidential cabinet secretary's not to remodel their private bathrooms for a quarter-million bucks...
JeffFromVegas wrote "That's right, a volunteer pool of "Geezers With Guns" employing prison guard mentality scouring the urinals looking for the next Lanza. That's the ticket. People who want to spend their golden years volunteering to patrol the local schools".
Retired policemen and military Jeff guarding the entry points to the K-8 schools. You realize the average retirement age for a policeman is around 53 years old? Hardly geezers. But distort reality as you wish Jeff.