Am I the only one hoping the US DOESN'T make a deal over debt ceiling?

Discussion in 'Markets & Economies' started by Lovey80, Dec 31, 2012.

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  1. Lovey80

    Lovey80 Well-Known Member

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    The states are very aware. They simply don't have the legislative power to do so here and the federal government already has us tapped out.
     
    Lovey80, Jan 2, 2013
    #41
  2. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Holdfast, Jan 2, 2013
    #42
  3. AngloSaxon

    AngloSaxon Active Member

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    Well they kicked the can, again. Defered pain down the road for someone else to deal with. Maybe being in US politics is like being on drugs for the Democrats?

    "This doesn't work, but I don't care, because I have my fix and it feels good."
     
    AngloSaxon, Jan 2, 2013
    #43
  4. REDBACK

    REDBACK Well-Known Member Silver Stacker

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    The US going over a fiscal cliff.Never going to happen.
     
    REDBACK, Jan 2, 2013
    #44
  5. Ozboy

    Ozboy Active Member

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    Definately not alone.
     
    Ozboy, Jan 2, 2013
    #45
  6. thatguy

    thatguy Active Member

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    It will all end in tears... of joy :D
     
    thatguy, Jan 2, 2013
    #46
  7. Nugget

    Nugget Well-Known Member Silver Stacker

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    [​IMG]
    Source:
     
    Nugget, Jan 2, 2013
    #47
  8. volrathy

    volrathy Active Member

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    so let me get this right - they borrowed 4 trillion from china which will last 2 months ?
     
    volrathy, Jan 2, 2013
    #48
  9. Henry Wartooth

    Henry Wartooth New Member

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    Where'd you read that? I thought they only had $200b (via "extraordinary measures") to last two months.
     
    Henry Wartooth, Jan 2, 2013
    #49
  10. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    They borrow 200b and turn it into 4 trillion.
     
    Eureka Moments, Jan 2, 2013
    #50
  11. JulieW

    JulieW Well-Known Member Silver Stacker

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    As someone clever said - when did Economics 101 become a 'fiscal cliff' and imply a problem solvable by politicians..
     
    JulieW, Jan 2, 2013
    #51
  12. dickmojo

    dickmojo Member

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    $200,000 / $35oz = 5714.285

    $1,000,000 / $1688oz = 592.42

    Ergo, $200,000 (1950s) =/= $1,000,000 (present day value)

    $200,000 50s money is more like a cool 10 mil today
     
    dickmojo, Jan 2, 2013
    #52
  13. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Peter Schiff comments on:

    Moodys!

    Inflation!

    Shrinkage of the US standard of living !

    US Deficit increase.

    Federal Reserve will print more money.

    Destroying the value of US savings accounts, pensions, annuities, wages, Life-insurance, Food more expensive, Gas more expensive etc etc etc.

    Obama has no intention to pay back debt just politics and trying to look like a good guy :rolleyes:

    The Dollar is getting clobbered - compare British Pound, Euro, Aussie dollar and the stupidity of the Japs. (Japs will have a good taste of inflation) Japs will print more Yen.


    [youtube]http://www.youtube.com/watch?v=5B9ycOLil7s[/youtube]
     
    Holdfast, Jan 4, 2013
    #53
  14. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Wouldn't Japan have to lose its status as the world's largest creditor for it to see high levels of inflation?
     
    Caput Lupinum, Jan 4, 2013
    #54
  15. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    No, what you showed was how under valued gold is in todays money

    http://www.dollartimes.com/calculators/inflation.htm

    [​IMG]
     
    Clawhammer, Jan 4, 2013
    #55
  16. dickmojo

    dickmojo Member

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    Wait.... what?

    If the same amount of money used to be able to nearly 6000 units of some McGuffin, but now can't even buy 600 units of that McGuffin, it means that that McGuffin must have risen dramatically in price.

    But since the McGuffin in question is actually Gold, which IS real money, indeed the only thing which is real money (along with silver), what this actually shows is how much value fiat currency has lost.

    And honestly, relying on official inflation figures? You have to be kidding. Thanks to hedonics, substitution and weighting, they are known to drastically understate the true rate of inflation...
     
    dickmojo, Jan 4, 2013
    #56
  17. grinners

    grinners Active Member Silver Stacker

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    An easier way would have been this:

    $35.00 in 1950 had the same buying power as $334.68 in 2012.
    Annual inflation over this period was 3.71%.
     
    grinners, Jan 5, 2013
    #57
  18. valuecreator

    valuecreator Well-Known Member Silver Stacker

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    You guys are still valuing things in term of fiat? How quaint.
     
    valuecreator, Jan 5, 2013
    #58
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