U.S. Account Gap Largest Since '08

reply to post by MrXYZ


What I'm trying to say is: YOU ARE #ED EITHER WAY!!!

Until money gets taken out of politics nothing will ever change. As long as you can simply BUY politicians, nothing will ever change. As long as the media is allowed to LIE, nothing will ever change. I mean, for crying out loud, you have "news" networks like Fox who blatantly lie to their audience to please their corporate contacts. Fox for example tried to enter the Canadian market...until the Canadian broadcasting association told them "fine, but you can't lie during NEWS shows or else you have to pay hefty fines". Guess what, they put their expansion plans on ice, therefore ADMITTING they lie to their audience.

What the US really needs are media outlets who do proper FACT CHECKS to hold politicians and economists accountable. I make most of my money through currency (and gold) trading, and whenever I watch CNBC or Bloomberg I feel like banging my head against the desk...they mislead the "dumb money" so blatantly, I'm surprised it still works.

Sadly it works because the education system is abysmal. Having people in the US believing that the deficit increase is due to Obama's spending for example is RETARDED given the current growth of the budget. Having people run for office who claim the world is only 10k years old is equally as retarded. There's tons more examples...

There's one truth about the world:"There's a LOT of retarded/stupid people on this planet!"

That's the main reason I invest in currencies. I don't care if the markets go up or down, I make money either way. The stupid people don't bother me as much when it comes to me making an income. But still, it annoys me like crazy to have to listen to stupid people all the time.

For those interested in REAL news, there's 2 primary sources I like...The Young Turks on Youtube (bitching about the left and right equally), and Zerohedge for economic analysis. I think I made more money through Zerohedge than my fulltime job, and as for TYT, they get my respect for stuff like that:









As you will notice, they attack both the left and right...and that's EXACTLY what we need. Someone looking at FACTS rather than partisan politics!

reply to post by MrXYZ


Not bad.

Some good points.

Good input.

reply to post by Indigo5

or that he is responsible for the USA being in a much better position economically than Europe?

It really really really isn't

If you look at the REAL unemployment figures (counting working poors for a change), inflation rate, and deficit, you'll notice that the US is in fact A LOT worse off than Europe.

So why doesn't the US media give that impression? Because they are being PAID to do so. As long as they help the government (doesn't matter which party's in power, they'd do the same for Romney!) to pretend everything's better, people will believe it...and keep in mind this is an ELECTION YEAR too.

Here's my prediction (quote me on it in 1-2 years if you want):

1) Greece will leave the Euro, Spain needs bailouts, and Italy will do too. Once that happens, the Euro can't be saved in it's current form and the southern countries will either revert back to their own currency or create another currency union. Greece might actually leave the EU if they get a right wing nationalist government...which would be HORRIBLE for the citizens.

2) The US will fudge their econ stats until 2013 because it's an election year. 2013/14 will be horrible because NOTHING that caused this current crisis has been stopped. Insane deregulation caused this crisis, and no new laws prevent corporations to defer losses to taxpayers. Instead, what you get are tax breaks for the top 1%, large corporations being allowed to defer taxes indefinitely while shipping jobs off-shore (Exxon!!!!), and the middle class paying for all of it by having services and rights cut. It's the biggest heist in history!!

The only "safe" investments are now the Swiss Frank (because eventually the peg will end and their economy and competitiveness is strong), metals, real goods and commodities (some of them). Stocks are horrible to invest in because it's clear YOU don't have the same information as Goldman & Co...and less information means they can screw with you as they please. Bonds are a joke because most countries are flat out broke and it's highly questionable how long they can continue their ponzi scheme. In the medium term bonds are still ok ofc.

By the way, I apologize for the walls of text...it's just that if there's one thing I think I have a real clue about it's economics, and I'm passionate about it. It's how I make most of my income, and most of it by going directly against what CNBC/FOX/Bloomberg tells people to do. I have more than 8 years of economic/finance/property studies behind me, and a couple of years working in the investment (private equity) sector...and I NEVER let politics stand in the way of making money. All I care about are economic facts, and sadly the facts don't match the picture politicians and the media paint.

I care because sadly the MAJORITY gets influenced by those crooks and no matter how hard I try to separate myself from them, they still have a (negative) influence on me. It's one of the reasons why I'm becoming a "perpetual traveller" in a year. # countries, I consider the world my home and I refuse to play their silly games soon...365 days to go as of today, just turned 30

(No taxes too, but that's just an added benefit...)

Originally posted by MrXYZ
reply to post by Indigo5

 

or that he is responsible for the USA being in a much better position economically than Europe?

It really really really isn't

If you look at the REAL unemployment figures (counting working poors for a change), inflation rate, and deficit, you'll notice that the US is in fact A LOT worse off than Europe.

Inflation...USA 1.7% to Euro 2.4%
Debt to GDP....USA 103 to Greece 165.30, Italy 130

Unemployment....USA 8.2% to Euro 11%, UK 8.2%, Greece 21.9%, Italy 10.2%, France 9.8%, Ireland 14.3%, Spain 25%

* Go ahead and find me "working poor" numbers in other countries and we can do that comparison, until then I am tired of the repeated rhetoric about the "real" unemployment numbers....ABSENT comparisons to "real" unemployment numbers both historically here in the USA and in other countries. It just reeks...numbers are only good for comparison purposes and deciding to now use new measures and compare them to standard employment measure of the past and different measures in other countries is just "retarded" if not dishonest.

8.2% might not precisely represent the unemployed in the USA...it might not fully count those that have "ceased looking for work"...which also includes retirees BTW...etc etc BUT it's methodology has remained consistent and thus is the best measure of movement and comparison.

Put another way...the "real" unemployment rate is likely higher than 8.2%, but the same thing is true for every unemployment figure going back a half century, and unless we go back and calculate those "real" unemployment rates for the past 10 to 50 years...the 8.2% remains the best measure...anything else is "really" apples to pinapples.

GDP YOY Growth...
USA 2%, Germany 1.7%, Ireland .7%, France (point three) .3%, UK 0%, Italy -1.4%, Portugal -2.2%, Greece -6.5%, Euro Area -.10

Please note I am using a non-partisan, analyst/investor resource and I responded precisely to your question and claim with the exact indicators you asked for...and I am seeing the exact opposite of what you are contending.

The USA is in a MUCH better position than Europe.

Source: www.tradingeconomics.com...

Originally posted by MrXYZ

It's one of the reasons why I'm becoming a "perpetual traveller" in a year. # countries, I consider the world my home and I refuse to play their silly games soon...365 days to go as of today, just turned 30

(No taxes too, but that's just an added benefit...)

edit on 14-6-2012 by MrXYZ because: (no reason given)

Recommendations....Florence, Italy ...Bali, Indonesia...Southern Ireland...Australia...New Zealand (warning - you might end up living there - Xpat haven/heaven)

reply to post by Indigo5


You can't seriously believe the official numbers

Just look at how selectively they decide how inflation is determined, or how the unemployment figure is literally made up. They don't even count people who have jobs that don't pay enough to live of!!

That's the problem, they FUDGE THE NUMBERS!

I strongly suggest you visit Zerohedge and read up on how exactly they make the numbers look WAAAAAY better than they are.

The main reason I believe the US is off worse is because right now (thanks to politicians being bought by corporations) the middle income citizens are being destroyed...and those are the very same people who spend most of their income, therefore stimulating the economy. It's a trend that has been going on for over 30 years now, and there seems no end in sight. And a 2% growth is nothing to brag about. By the way, the number of working poors is MUCH lower in Europe than the US

Originally posted by Indigo5

Originally posted by MrXYZ

It's one of the reasons why I'm becoming a "perpetual traveller" in a year. # countries, I consider the world my home and I refuse to play their silly games soon...365 days to go as of today, just turned 30

(No taxes too, but that's just an added benefit...)

edit on 14-6-2012 by MrXYZ because: (no reason given)

Recommendations....Florence, Italy ...Bali, Indonesia...Southern Ireland...Australia...New Zealand (warning - you might end up living there - Xpat haven/heaven)

I'm from Europe and have lived in Florence for 2.5mo a couple of years ago...super cool city (and amazing food), but I'm gonna skip it this time. All the rest is on my list

I'll probably start off in Hong Kong for 3mo, then Thailand (looooooove that place, the people are so friendly, amazing food, great nature) and the rest of SE Asia, then off to Vanuatu/PNG before visiting Oz and NZ. I plan on spending a good 8mo island hopping from NZ to Hawaii before doing the whole Canada > Patagonia thing in a year or 2.

Thx for the tips

As Huxley says:"To travel means to figure out that everything people say about other countries is wrong."

PS: Love being an expat btw...really opens your eyes.

reply to post by Indigo5


With all due respect; and at the risk of being obtuse on a point that others often seem reticent to accept....

We DON'T know what the real figures are. We never did.

Revisionist history aside, the new "propaganda" has been circulating in our midst nearly non-stop since the international media became a quintopoly.

Every "reported" statistic is far from reliable.

I suppose when there is nothing else to go by it is a natural assumption... but if you really want to use what the industry/government combine reports as accurate... how can we explain that for the last six years (and even today) they report that the housing crisis has bottomed out.... which is the same thing they'll be saying next year; as prices slink further towards the final destination. Unemployment numbers have been brutally mangled by redefining and applying provisos to the figures until finally, we realize that they don't really CARE about the real number... just what makes them look good.

This is a difficult thing to admit, but as time has gone on, those in government and their business partners have ensured that Americans are as close to completely uninformed as possible. Sorry to say... I bet it's the same in every country this cabal of starry-eyed globalist businessmen lay claim to control.

By the way, here's why the published inflation figures are complete and utter nonsense: LINK

And here's why the US is in a pretty bad state right now, even compared to Europe: LINK