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1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 12/19/2009 : 15:13:30
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---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Gresham
Penny Pincher Member
184 Posts |
Posted - 12/19/2009 : 20:01:30
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| Yes the dollar will fall because they are printing money to cover costs, but then goes onto say that it is the fault of the american people for saving too much, correcting the trade deficet and not allowing enough money to enter the markets. |
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keys
Penny Collector Member
383 Posts |
Posted - 12/26/2009 : 15:49:43
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From the article itself-
"The US current account deficit is falling as residents' savings increase, so its trade turnover is falling, which means the US is supplying fewer dollars to the rest of the world," he explained.
Trade turnover? The US has had trade deficits for sixty years (in the old pre-Nixon days, the trade deficits were dealt with by exchanging gold for US Dollars from other trading nations. After the gold window was closed the deficits were just rolled over to dollars owed to other countries.)
..."which means the US is supplying fewer dollars to the rest of the world"
Bernake told congress that the US has a device called the printing press or the electronic version thereof by which the US can create as many dollars as it wants. So much for the arguement there are not enough US dollars to go around.
Sometimes even the experts are blinded by their own expertise. |
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Dollar set to weaken according to China's Banker
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