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The documentary shows how Federal Reserve Chairman Ben Bernanke was wrong about the Real Estate and automobile markets; and how the Federal Reserve's monetary policy could lead to the destruction of the U.S. dollar.
Ben Bernanke, chairman of the Federal Reserve, recently predicted the nation's recession will end later this year. That same day, billionaire Warren Buffett, CEO of Berkshire Hathaway, said the economy is in 'shambles' and that it has ‘fallen off a cliff.’ He claims it will stay that way for some time to come.
Who's right? I side with Buffett, an informal adviser to President Barack Obama. Buffett believes inflation will be a problem in coming years. He also criticized President Obama's 'cap and trade' provision as a method to CONTROL POPULATION.
History can also teach us something about the economy. During Germany's Weimar Republic, from 1918 to 1933, when Hitler was elected chancellor, the nation's economy stagnated. There were several reasons for this.
The economy experienced rampant hyperinflation because the government printed money to finance its deficit. Finally, unemployment reached 10 percent by 1926.
Compare Germany’s Weimar Republic to America today. President Obama has nationalized two of our auto makers and several of our banks and insurance companies. And that's just the beginning, his first six months in office. Can we expect the government paper-pushers to make the important daily decisions that a company faces? And can we expect these decisions to economically benefit the company and its employees?
If America wants to see an end to this recession, it would be wise to consider ending all nationalization of private industries and to stop most, if not all, government and corporate entitlements.
Otherwise our economy may be headed for a financial Armageddon.
Inflation is as dead as the Wicked Witch of the West in a waterfall. The consumer price index has actually fallen 1.3% in the past 12 months. So why is everyone so worried about soaring prices?
In a word: debt. The government owes the world $11.4 trillion — $37,000 for every person in the U.S. In the next fiscal year, the government will add $1.8 trillion to the deficit.
The ultimate cause of inflation is an unwarranted increase in the money supply. The key word here is "unwarranted."
A normal inflationary spiral starts when the central bank increases the money supply even as the economy is rising. It's like piping oxygen into your barbecue. When the Federal Reserve increases the money supply, generally through lower short-term interest rates, businesses can easily borrow and expand. As companies prosper, they pay higher wages to attract new employees and retain old ones. Employees, in turn, spend more — which increases demand, and prompts companies to raise prices.
The government's plan is to fight the sour economy now by spending money, and worry about the debt problem later. "If that's the price to keep from having the second Great Depression, it's a bargain
Originally posted by Republican08
reply to post by wonderworld
Now this stuff, I think is a real threat, screw nibiru, we can see this and feel it.
Not only are they printing money out of thin air, but their typing into a computer, what is it like 97% of all the money is not on paper, only 3 percent correct me if i'm wrong though!
Even if TSHTF, I wouldn't be surprised if you see everyone go, Give Obama more time!!!
I tried for three days, to find a video making fun of Obama, hoping SNL would do just one, but noone will even make a little joke about him.
[edit on 2-7-2009 by Republican08]
Originally posted by wonderworld
Originally posted by Republican08
reply to post by wonderworld
Now this stuff, I think is a real threat, screw nibiru, we can see this and feel it.
Not only are they printing money out of thin air, but their typing into a computer, what is it like 97% of all the money is not on paper, only 3 percent correct me if i'm wrong though!
Even if TSHTF, I wouldn't be surprised if you see everyone go, Give Obama more time!!!
I tried for three days, to find a video making fun of Obama, hoping SNL would do just one, but noone will even make a little joke about him.
[edit on 2-7-2009 by Republican08]
I have a couple too.
Originally posted by Ansiroth
Isn't fair at all, what of the futures of the people who live in this country and really had nothing to do with this problem? Im a 20 year old guy trying to get his financial stuff working for him. I budget my money, i don't owe anyone a dime, and i even quit smoking two weeks ago to save some extra cash, and now the entire thing could come crumbling down because of the fed? It's not the average persons fault, they can only do so much singularley. Theres really not alot for someone like me to do about this, is there?
Originally posted by bismarcksea
reply to post by wonderworld
Only problem is, they don't have to PRINT anything! The can creat MILLIONS and BILLIONS and ZILLIONS and GaGaZillions by a simple press of the button.