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Originally posted by Dance4Life
reply to post by Rockpuck
Dollar devaluation? Not really my friend. The USDX has been in the same trading range for almost 3 years I think.. maybe more.
Now is USD JPY - CHF - CAD - AUD strong? Most definitely, but not outstandingly. Currencies are a ****** and subject to volatility. Put nicely that is.
Take a look at any of these sans JPY, less than 2 years ago almost at the same levels and about 1 year ago the dollar was 50% stronger. Personally not a real fan of using currencies as indicators of anything but* speculation.edit on 2-2-2011 by Dance4Life because: speling erors
Originally posted by Dance4Life
reply to post by mnemeth1
Currencies are only measured against other currencies. There has been very little dollar devaluation over the past 5-10 years in these terms. Everything else is speculation relating to commodities. If real inflation is here why isn't natural gas at 8 and still sitting inverse to all others? Supply / Demand etc. - 90% of commodities are speculation, just providing liquidity to wholesalers for hedging purposes.
You mean to tell me that after 2008-09 that we are heading for hyperinflation all of the sudden? Laughable.
And yes, we are going to have hyper-inflation. This is what happens when the Fed outright prints 600 billion dollars.
It's too bad this seems to be occurring, the markets are fluctuating higher and higher:
President Bill Clinton, now the UN Special Envoy to Haiti, publicly apologized last month for forcing Haiti to drop tariffs on imported, subsidized US rice during his time in office. The policy wiped out Haitian rice farming and seriously damaged Haiti’s ability to be self-sufficient. www.democracynow.org...
Commodity Futures Trading Commission judge says colleague biased against complainants
..P.ainter said Judge Bruce Levine ... had a secret agreement with a former Republican chairwoman of the agency to stand in the way of investors filing complaints with the agency. "On Judge Levine's first week on the job, nearly twenty years ago, he came into my office and stated that he had promised Wendy Gramm, then Chairwoman of the Commission, that we would never rule in a complainant's favor," Painter wrote. "A review of his rulings will confirm that he fulfilled his vow....
Levine had never ruled in favor of an investor. Gramm [wife of former senator Phil Gramm (R-Tex.)], was head of the CFTC just before president Bill Clinton took office. She has been criticized by Democrats for helping firms such as Goldman Sachs and Enron gain influence over the commodity markets. After leaving the CFTC, she joined Enron's board.
Note: For lots more from reliable sources on government corruption, click here.
How Goldman gambled on starvation
This is the story of how some of the richest people in the world – Goldman, Deutsche Bank, the traders at Merrill Lynch, and more – have caused the starvation of some of the poorest people in the world. At the end of 2006, food prices across the world started to rise, suddenly and stratospherically.
Within a year, the price of wheat had shot up by 80 per cent, maize by 90 per cent, rice by 320 per cent. In a global jolt of hunger, 200 million people – mostly children – couldn't afford to get food any more, and sank into malnutrition or starvation. There were riots in more than 30 countries, and at least one government was violently overthrown. Then, in spring 2008, prices just as mysteriously fell back to their previous level.
Jean Ziegler, the UN Special Rapporteur on the Right to Food, calls it "a silent mass murder", entirely due to "man-made actions." Through the 1990s, Goldman Sachs and others lobbied hard and the regulations [controlling agricultural futures contracts] were abolished. Suddenly, these contracts were turned into "derivatives" that could be bought and sold among traders who had nothing to do with agriculture. A market in "food speculation" was born. The speculators drove the price through the roof.
Note: For an abundance of reports from major media sources detailing the many complex and hidden strategies employed by financial corporations to keep their hyper-profits flowing in, click here.
In summary, we have record low grain inventories globally as we move into a new crop year. We have demand growing strongly. Which means that going forward even small crop failures are going to drive grain prices to record levels. As an investor, we continue to find these long term trends...very attractive.” Food shortfalls predicted: 2008 www.financialsense.com...
Recently there have been increased calls for the development of a U.S. or international grain reserve to provide priority access to food supplies for Humanitarian needs. The National Grain and Feed Association (NGFA) and the North American Export Grain Association (NAEGA) strongly advise against this concept..Stock reserves have a documented depressing effect on prices... and resulted in less aggressive market bidding for the grains.” July 22, 2008 letter to President Bush www.naega.org...
what do you guys think is going to happen? is it going to be like end of the world stuff, people fighting other people for food, or is it going to be a harder dip where we get out and everyhing will get back to normal?
...That little thing called The Great Depression. Not too far off from what we currently have, but we didn’t have the credit card industry that gives the illusion of normalcy that we have now. Many families had to send their children to relatives who lived on farms to keep the children from dying of starvation or malnutrition. My mother was born in the midst of the Depression and her family had 16 children there at one time. My grandparents had six children. They farmed with horses, grew buckwheat, milked cows and sold the milk and cream, raised chickens and sold the eggs and ate the meat, gardened and had an orchard in which they raised their pigs, and they also raised sheep. They had no money, but they did have food...
In 1790, 90% of the workforce farmed for a living. In 1930, when the media really began to make fun of farmers and infer that those who fed the nation were unintelligent hicks, there were still more than one-fifth (21%) of the nation’s workers engaged in full time agriculture. Contraction and consolidation began in earnest in the 1950’s after the OECD came out with a report recommending US farmers “get big, or get out.”
This has happened in every segment of farming. “Get big, or get out” has been the mantra of agencies and corporations for half a century. In 1980, there were over 117,000 dairy farms in the US. Today there are less than 65,000. In 1980, we had 666,000 hog farms. Today there are 71,000. In 1980, there were 1.9 million cattle ranchers. Today there are 900,000. The same applies to the growing of produce and grains. There are no statistics specifically geared toward diversified agriculture, but the last ag census showed that farms with less than $10,000 per year income grew in number while the others all fell. According to USDA statistics, we now have a total of less than one percent of the entire population engaged in agriculture.
Instead, we have increased our imports in produce to a phenomenal 68% in fruits and vegetables....
Let Them eat GRASS
in the winter of '61-'62 - terrible winter, terrible winter. Heavy snows, everybody's snowed in and people are starving."
....a stone warehouse that survived the [civil] war... was stocked with food in 1862, but the government refused to hand it out. In an earlier treaty the government promised to support the tribe with food and yearly payments...
There was a meeting between the government, Indians and traders. One of the traders was Andrew Myrick...
...first an Indian spoke.
"'This is our reservation, and yet you go out and you cut our grass for your animals. You cut down our trees for your building and your fire. You shoot our game, which we have very little of anyway. It's ours, you leave it alone,'"
Andrew Myrick says, 'Well then, if you want it then you eat your grass. And we won't trade with you.'"
...Among the many casualties that day was the trader Andrew Myrick. He was found with grass stuffed in his mouth.... news.minnesota.publicradio.org...
No friend.. wage inflation is only a dream.. they've effectively slaughtered and gutted the soul of the middle class.
‘Whitewashed Windows and Vacant Stores’
RISMEDIA, January 26, 2010—That is a line from a 1983 Bruce Springsteen song, “My Hometown.”
As I drive around my town, I can’t get the lyrics or somber melody out of my head. It is like witnessing old friends drop dead one by one....
The failure of Linen’s and Things is a prime example of how Wall Street plundered Main Street, robbing retailers, big and small, and leaving a trail of failure, unemployment and boarded up buildings behind.
Once Wall Street realized that success can only be so profitable but failure has unlimited potential, the race was on to loan money and securitize the debt.
Just like sub-prime residential mortgages, commercial real estate financing and corporate raiding offer opportunities on many fronts. Private-equity groups bought up large retailers and buried them in debt. Leveraged buyouts, as their name implies, are exactly that, leveraged, in that most if not all of the purchase price is borrowed money. The buyer has little, if any, skin in the game....
You might be familiar with the mall-based, teen-focused, accessories chain, Claire’s Stores. It was taken over in 2007 by Apollo Management LP for $3.1 billion. At the time, the chain had over $245 million in cash on hand. Today, the cash is gone. Struggling under the weight of $2.3 billion in debt, sales continue to decline.
Underlying all of this are the same activities that led to losses in sub-prime residential equities. Money was looking for a home, and some investors saw that cash could be leveraged out of these enterprises by buying them with someone else’s money and looting the assets.
Package sizes haven't decreased...
'Did you hear the post office is thinking about charging 7 cents just to mail a letter.'
Originally posted by ziggy1706
I work in a retail store in southwest CT. past week, ive noticed prices have gone up on most things, not all,...about 20-30 cents. In our store, disposable razors, priices dropped about 10 cents. dunno if it means anything.
It will certainly affect our standards of living, but if these "creative solutions" are played wisely, we should be able to consolidate our assets enough to be a part of the new basket currency reserve to some extent.
* Sound recording industries - 97%
* Commodity contracts dealing and brokerage - 79%
* Motion picture and sound recording industries - 75%
* Metal ore mining - 65%
* Wineries and distilleries - 64%
* Database, directory, Book and other publishers - 63%
* Cement, concrete, lime, and gypsum product - 62%
* Engine, turbine and power transmission equipment - 57%
* Rubber product - 53%
* Nonmetallic mineral product manufacturing - 53%
* Plastics and rubber products manufacturing - 52%
* Other insurance related activities - 51%
* Boiler, tank, and shipping container - 50%
* Glass and glass product - 48%
*Coal mining – 48%
I am amazed that the US government, in the midst of the worst financial crises ever, is content for short-selling to drive down the asset prices that the government is trying to support....The bald fact is that the combination of ignorance, negligence, and ideology that permitted the crisis to happen still prevails and is blocking any remedy. Either the people in power in Washington and the financial community are total dimwits or they are manipulating an opportunity to redistribute wealth from taxpayers, equity owners and pension funds to the financial sector - Paul Craig Roberts was Assistant Secretary of the Treasury www.countercurrents.org...
...Because the economic future is filled with taxes almost everywhere one looks, much of the capital and spending activity has been shifted from 2011 and is occurring this year, 2010. This is to avoid the coming squeeze. Laffer believes the evidence is strong that the slight rebound in the economy is solely due to the shift from 2011 to 2010. " ...the prospect of rising prices, higher interest rates and more regulations next year will further entice demand and supply to be shifted from 2011 into 2010."
Because of this reaction from the private sector in anticipation of draconian tax policies during and after 2011, Laffer believes that "When we pass the tax boundary of Jan. 1, 2011, my best guess is that the train goes off the tracks and we get our worst nightmare of a severe "double dip" recession."
Depending on the condition of Western Europe at that time, the possibility exists that the train not only "goes off the tracks" but off the cliff and the US plunges into a steep depression worse than that experienced during the 1930s.
Arthur Laffer is not a traditional "doom and gloomer." Nor has he ever been some wild-eyed conspiracy theorist. His economic models in the past have always been right on the mark and his warning is sage advice coming from a measured man who strives to employ common sense and balance.
A pragmatist and realist, Laffer's warning should be heeded. It's not too late to forestall approaching disaster.
If we do not act, he writes "The result will be a crash in tax receipts once the surge is past. If you thought deficits and unemployment have been bad lately, you ain't seen nothing yet."