One last quick note before I slip into a stupor: Nothing concerning economics concerning the USA has mattered since 1933.

Our dollar is worth one dollar because we say it is.
Don't like it?
OK.... like it now?
(BOOM CRASH) How about now?
Oh... yea I guess we can come to some sort of agreement, some sort of exchange.
What does your chessboard say? Because mine is a bit off.

Most people are stupid enough to look at economics and numbers concerning America as if they mean something!

Deficit?
Really?
Who is going to send the bill?
America, Brits, Spain, Italy (if they have a choice), South Korea (If they exist within 24 hours after North Korea unleashes hot fury), Tiawan, Japan.... I mean we could go on but the list is clear and well defined!
None of them will because they know exactly what the US dollar is worth!
Whatever we say it is!

(I must add this has nothing to do with who is in office: the spokesperson for the United States of America speaks... that is his/her job! What happens if other governments refuse the US dollar is beyond them just as what happens when the US is attacked. That is not controlled by elected officials: it is a fact, and it SHALL be done)

We were delighted to see housing costs go down. It made it easier for us to buy, over priced or not. Wish we would've waited a little longer.

This mortgage crisis is gold. My wife's employer is pulling in more work and she's movin' on up. Ah, mortgage loss mitigation. Water is life, so my job is pretty safe, unless we all go to shitting in the woods. I'll have other things to deal with then anyway and it's not like the satellite TV people are gonna sue me for missed payments in a court that no longer exists. Hell, the satellite TV won't exist.

But when the taxman comes to the door, Lord, the house looks like a rummage sale.

Hell yeah. The higher the value, the higher the tax, the more money we pay for the use of our home. Keeping out the riff-raff, the kind that is publicly riff-raffy anyway, is about all high property values are good for. I suppose there's good schools, if the money is managed correctly and the people teaching and attending are worth the money. Wrap a turn in a hundred dollar bill and it's still a turd.

And the stock market? I want in. I wanna be a idiot buying and selling from home. I still think somebody needs their ass kicked for making this mess and having the audacity to come to me for the money. I reckon they can get my money from me buying their $5 stocks. Once it's back on the up, I'll get mah monies back. More than I can say for the current shaft.

Now they say gas and oil prices going down is a bad thing or an indicator of bad things. No it ain't. I gots more monies in mah pockets. Good. Oil companies won't loose money. They just may not make as much. No money is coming out of their pile, so it's not a loss. Maybe if we start recycling our styrofoam at the Shell station, then somebody might loose something. I may loose a little sleep, cause I'm out late recycling or something. Go green!

Nice rant. Good to see you around.





GDP is one of the leading economic indicators. Does it mean something?

Ray, I sorry if I sounds like a "political conservative". When I blame the media I am mainly talking about the Australian media which is mainly controlled by Rupert Murdoch. The media in the USA might be more liberal but I think all newspapers are only interested in circulatiuon so bad news sells.

My comments are not beased on politics. I did study Economics at University where we were taught mainly Keynes theories. When demand in the private sector goes down Governments must spend. This is also the message of our Prime Minister Kevin Rudd.

Economics is mainly based on the law of supply and demand. To have a sound economy they must be kept in balance. If demand for their products go down private businesses will experience economic problems which will reduce profits. Most Capitalist firms will try to solve this by cutting cost, laying off workers which will increase unemployment.

Governments are not so subject to these laws. As was said it really does not matter how big the deficit or how low the value of your currency they can not go broke. They had access to revenue by increasing taxtion which is not subject to demand. You can get rid of the party running the government but the new party in a recession will do they same.

GDP is important only in a relative sense. If it goes down you will find it hard to get investment from overseas. That why it is important to reduce the period of recession. To advance in the world you need investment. Some of it can come from within the country but most countries rely on overseas investment. Also their export income will go down if noboby can buy their products. Therefore we can not afford to let other countries we export to stay in recession.

We must increase demand and only spending will do that.

Welcome back, wax, good to 'see' you again.


This from a guy who seven years ago told us that within the next five years Chinese hordes would be pouring over American shores and we'd all best learn how to use chopsticks.

And after all the fake "RED" terror alerts issued by the Bush government to deflect attention from their many moral, political and ethical failings, I can't permit the idea to stand that it's the liberals who want to instill fear into us.

The entire Iraq war was fabricated by playing to our fears, and on fake evidence at that.

So it's clear that it's not the liberals trying to scare us.

I was thinking liberals was just a word for those who should be blamed. Like when the media is called liberal because they aren't providing a cover story that matches the talking points and forces planting of stories to be cited as proof.

Cy- GDP is one of the leading economic indicators. Does it mean something?

Wax- Sure it does; it 'means' that we have alot and others not so much.
Silly in a way but quite serious in others.

100 American dollars is worth the same materially as 1 American dollar - a piece of paper (nice paper to be sure but paper none-the-less!).
We left the gold standard in 1933 and entered the only standard that governments have ever known... the lead standard (or full metal jacket... in actuality one should use the 'force standard' because at one time it refered to things like iron, bronze, stone).
Which brings us to Dax because he is the only one who caught it.

Dax- So it's clear that it's not the liberals trying to scare us.

Wax- Yes I was joking in a Mikey Moore-ish sort of way Dax, and thanx for pointing it out.
Liberal, conservative, it doesn't matter.
Your attack on my charactor concerning the Chinese was completely uncalled for however because I always admitted my bias... and besides... they are coming! OH yes they are!

Ultimately of course we won't give them any real choice.
Eventually someone is going to ask for real currency when they send a bill.
And besides I predicted that the person who would lead us into full scale war would be a young democrat like John Edwards... or Barack. It doesn't matter.

Besides you can't complain because you are not a nasty old 'liberal' and that is not a suprise because few are. The problem with fear as all leaders use it is mis-direction.
Don't pay attention to the man behind the curtain; the great and might Oz has something to say!

There has been a movement for some time to change the buying currency for oil from dollars to euros. If that happens, our goose will be cooked. As is, the world has to come to us to buy our dollars before they can buy oil. We don't need oil wells; all we need are machines to grind out our dollars.

We have pole position. For how much longer is the question, since we are in the middle of a big financial mess.

wax, I did not attack your character, nor do I feel it needs attacking. I pointed out that your own posts don't lack in statements that might scare us. Your admission of bias in this area doesn't mean you're saying your thought is wrong.

The great fears of the past 8 years have not been induced by liberals, but by ill-conceived and mismanaged policies of an administration willing to scare the shit out of the American people rather than admit their mistakes.

It's funny in a way, because as you well know, the stuff that would really scare us is the stuff they don't tell us, rather than the fear-inducing stories they make up out of whole cloth.


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So the downturn in the economy is Obama's and the Democrat's fault and not the result of the last 8 years of the inept Republican-Bush regime? That sounds more like some kind of neo-voodoo economic theory. I suppose a McCain victory would have sent the stock market skyward, especially with McCain's penchant for deregulation.

This happened on their watch, Law, remember? Still, I don't blame Bush entirely. I just don't think the man was or is capable of governing without someone(s) standing there at his elbow telling him exactly what to do 24-7....people like Cheney...problem was they told him mostly all the wrong stuff.

May we expect all the neo-conservatives in the GOP to spend the next 4 years blaming Obama for what Bush and his crew did to sink the world economy for the last 8 years? Not even Fox News is that proficient at propaganda and misinformation.