[Samurai]

Originally Posted by amitoj

I was merely hinting at the possibility that people accusing US of indiscriminately printing money...

Such people are not usually familiar with how currencies work. Economics and even finance is not common sense. This is a topic lot of people feel they know, simply because they have been earning money for a long time or because they follow the stock market or read financial news, etc.

[VLOCT]

Originally Posted by supremeBaleno

Oh yeah, Afghanistan was necessary. Because there were evil folks there. But wait, who had armed the evil ones a decade or more ago against the Russians ? The US. So, yeah, when it feels like, it will arm the evil ones and when the fancy wanes, they will put on the super-cop hat and go to war against them. Great. And this is supposedly the nation we should have as a world cop. I think you need to think outside the box (US).

I'm sorry, I have to respond to this constant barrage of 'US is the Devil', 'US is falling' chants.

The selective memory of most people on how US came to arm the Mujahadeen against Russia, invited into the country by the then Communist rulers, is typical. No one said a peep when Russians casually masacred nearly a 'million' mostly afghan villagers and leveled thousands of villages from their high perched military helicopters and the afghans could do nothing. It took a lot of wrangling by a then Texan Congressman to get the US govt to approve CIA to start supplying Stinger missiles to the Mujahadeen. When the helis started dropping like flies, the Russians tucked their tail and ran. Good riddance. Yah, the current conditions has it's start there. Once, the genie is out of the bottle however, there is no putting it back.

When Rwanda happened, everyone asked why the US didn't intervene? So what is it you want? Do you only want the US to intervene when genocides, deemed intervenable by the 'compassionate' rest of the world, are happening? Why couldn't Russia, China, India and even Europeans intervene? Guess what, they are good at talking, endless useless talk. Serbia only got resolved, and resolved quick, when US send some good old fashioned Tomahawks up some Serbian, you know what. Funny, it's right next door to Russia and other Europeans. They did squat.

Even now how is it that US has somehow kowtowed to Russia in Syria? Without the threat of a US military strike there wouldn't be this sudden 'brilliant' suggestion by the Russians for removing the Syrian chemical weapons. They're the ones who supplies most of the Syrian weapons anyway. It's Russia's only remaining ally in the region and suddenly they have a brain wave? Yah right. And we are all sheep.

I am not a fan of a lot of the foreign policy routes that US seems to be currently on. I wish US withdraws from non-crucial areas in the world and let the so called current crops of know it alls like Russia, China etc handle these. It sure will teach a lesson to the affected countries on how much 'they care' for them. For all its faults, US is the only country I know of that will even pretend to think about something bigger than themselves.

Yah, for all its warts and all, I prefer the US to dominate the world. It's simple, no one else will lift a finger and watch genocide after genocide go on, all the while 'discussing' ways to tackle it. In the end, they will come running here, please why are you not doing something? I wish Obama would tell them, TAKE A HIKE, YOU DO IT and for once I would like to sit back and watch the true colors on what these countries really care about.

One more thing, the current world economy will be in shambles if the rest of the world doesn't sell their wares in the US. Let's see how far China and India will get to their growth targets, absolutely necessary for poverty reduction, without such a market. Or you can always try convincing the Chinese about fair market trade, LOL. Let see how far even the mighty Germans get to without the huge US costumer base for their Mercs and BMWs.

The US has the wherewithal to rebuild it's industries, if necessary. The US energy situation has essentially been solved with the advent of Fracking. Unofficial oil estimates at the expected full future retrieval rate, at this time, a thousand years, you heard me right. Bottom line, US is in a lot better shape compared to the rest of the world. Actually, there is no real comparison. Ignore the constant nonsensical hype on 'US is falling' chant. It ain't happening anywhere in the near future.

So please, lets keep all this 'US is the problem' hot air in perspective. US dollar is not going anywhere and the current excess will slowly but surely be absorbed into the world economy, when the world economy recovers to a healthy level.

Food for thought, if the US economy is the mirage that everyone keeps claiming, why the pundits never point to China, India and other key economies as possible saviours. Hmm, why do the investors flock to the US dollar and not the mighty Renmibi when Saudi Arabia or some other hell hole has a spasm, I wonder? Hell, why not the great Euro? Now, talk about a real Mirage.

Sorry for the rant, but when things are left unsaid sometimes, it tends to create a feeling of acquiescence to a lot of incorrect and half truths.

[jraj]

Originally Posted by VLOCT

I'm sorry, I have to respond to this constant barrage of 'US is the Devil', 'US is falling' chants....

So you mean to say it was all the Evil USSR and had nothing to do with Jimmy Carter authorising the covert ops in 1978 in Afghan to stir a uprising and overthrow Tharaki?

[VLOCT]

Originally Posted by jraj

So you mean to say it was all the Evil USSR and had nothing to do with Jimmy Carter authorising the covert ops in 1978 in Afghan to stir a uprising and overthrow Tharaki?

I think you mean the overthrow of the US sympathetic 'Daud' in 1978 who himself had siezed power by the overthrow of the then Afghan king Zahir Shah in 1973. Daud was sympathetic to US for sure however, tried not to alienate USSR as well. So, why would the US overthow a friendly Aghan government only to have a communist goverment installed? The communist People's Democratic Party of Afghanistan (PDPA) coup that siezed power in 1978 had no overt or covert involvement by the US. It is clear though, that it added to the american paranoia after the 1978 overthrow of the US backed Iranian shah, which was a travesty and great injustice to the Iranian people. But compared to what the USSR did in Chechoslovakia, Hungary, Lithuania, Ukraine and numerous other such countries where the people were totally subjugated with military tanks, unforgivable as it may be, Iranians still got to maintain a high standard of living. Compare that to where the 'peoples revolution' has led them. I'll take the Shah, thank you and I suspect, so will most Iranians except, for the usual psycho religionist.

Maybe you're referring to the Carter Doctrine that stated US will not allow any other power to dominate the Persian Gulf. Malayalees especially, should worship the ground that Carter walked on. They're the ones who has most benefitted, and continues to benefit, from this policy in the Persian Gulf that enabled them to earn a great living there and helped maintain a high standard of living in Kerala.

It's clear that US was on a war path to stop the USSR expansion in the 60s and 70s. They did a lot of crap during those years. In purely my personal opinion, on hindsight, the countries that US intervened made out better in the long run. Name one USSR supporting country that still is not in a recovering stage or not in the toilet.

Yes, communism is evil, has always been evil and belongs in the trash heap of history. Ironically, Kerala is also the posterchild of the absolute incompetence of the communist doctrine. Wages for looking, LOL.

The same reason for thousands standing outside the US embassy and ten people outside the USSR/Russian consulate. Yah, USSR was and continues to be such a magnet for the world population and known for the opportunities that it provides for all (sarcasm).

[download2live]

Originally Posted by VLOCT

When Rwanda happened, everyone asked why the US didn't intervene?

US intervenes where its interest are at stake. Not blaming US and I feel it makes perfect sense.

[VLOCT]

Originally Posted by download2live

US intervenes where its interest are at stake. Not blaming US and I feel it makes perfect sense.

The commonly used phrase is 'US World Cop' and therefore, most people apparently prefers the US to not interfere 'anywhere' unless, of course, it's their country on the receiving end. And to a certain extent, I wish US would only intervene in countries that are under extreme threat (humanitarian, genocide etc.), situations that directly affects the US, or threats to its stated allies. Personally, I wish US did intervene in Rwanda and tried to prevent some blood shed there.

As I mentioned previously, no other country has yet has even remotely shown a stomach to spend its own treasure and blood for someone else, whether it ulimately benefit the US or not. This is of course, is made possible also by its huge economy but more importantly, a willingness to do such things by this country of so called 'blithering idiots', as someone in his infinite wisdom, referred to the americans, earlier on this board. As an alternative, may be we can see all the countries populated by 'geniuses' do something for a change.

It's clearly a ridiculous self serving tool to beat up on the US, when countries that will not help a finger to help find a solution, jumps on the US when it takes a stand. You can agree or disagree with it but if you disagree, lets hear your solution? You guessed it, we'll discuss!

[gatham.psb]

Wow! This thread is turning out to be a good history and economics lesson. Anyway, i did read the views of another set of economists. Essentially, even thought the debt is increasing, the GDP has been increasing too and so has the market size. So they advocate that increase in debt is not such a bad thing as it is made out to be.

[Jomz]

Originally Posted by VLOCT

The commonly used phrase i........

Good points on the last few posts. Great writing.

[Samurai]

Originally Posted by VLOCT

1978 overthrow of the US backed Iranian shah, which was a travesty and great injustice to the Iranian people.

A bigger travesty than the installation of Shah in 1953 by overthrowing a democratic government?

[VLOCT]

Originally Posted by Jomz

Good points on the last few posts. Great writing.

Just may be voicing some contrarian views to the popular hobby of US bashing. Thanks Jomz.

Originally Posted by Samurai

A bigger travesty than the installation of Shah in 1953 by overthrowing a democratic government?

Sorry Samurai. What you pointed out is exactly what I meant to convey, just didn't word it right. A sordid US affair for sure, that ultimately led to the 1978 revolution. Again, thanks for pointing it out.

[rahulsnh]

We are incredibly misinformed thanks to media. The reason why the USD rose against almost every currency which did not take "Fed" type stance is that Fed did a balance sheet quantitative easing. This approach is different from quantitative easing by printing money. Yes, we can debate whether it is possible to sustain such an approach but as long as Fed does not really increase the printing to balance its books dollar will not crash. For that matter, whether Fed will need to print itself is not certain.

[SmartCat]

Anybody who is worried about dollar/debt crisis in the future should look at the these videos by Mike Maloney. Each of these videos is 30 minutes long, so should be viewed during a weekend. The videos seem to be made very professionally, and content is presented very well.

Long story short:

1) Every 20 or 30 years, in the recent history, we've had a new monetary system.
2) In the 1920's, it was the Gold standard. Amount of money in the economy was linked to Gold reserves with the Fed.
3) Next, it was the fractional Gold standard. Amount of Gold in the reserves was a fraction of Gold reserves.
4) After that, Gold standard was dumped, and USD was made a "fiat currency". Money is being printed out of thin air. And all other currencies were linked to the dollar at a particular price
5) Next, majority of currencies were delinked from the dollar, and they all move independently.

In the next decade, apparently we will have a new monetary system, most probably linked to real physical assets like Gold.

Videos:

Hidden Secrets of Money: Episode 1

http://www.youtube.com/watch?v=DyV0OfU3-FU

Hidden Secrets of Money: Episode 2

http://www.youtube.com/watch?v=EdSq5H7awi8

Hidden Secrets of Money: Episode 3

http://www.youtube.com/watch?v=y-IemeM-Ado

Hidden Secrets of Money: Episode 4

http://www.youtube.com/watch?v=iFDe5kUUyT0

Episode 4 is the most important one, but others are more entertaining.

[Oxy]

I don't get one thing.

What's the point of having a debt ceiling when it is going to be raised everytime it is reached?

[Samurai]

Originally Posted by smartcat

Anybody who is worried about dollar/debt crisis in the future should look at the these videos by Mike Maloney. Each of these videos is 30 minutes long, so should be viewed during a weekend. The videos seem to be made very professionally, and content is presented very well.

Very well made videos, saw all the four. Finally he tries to sell gold to us, that was bit disturbing.

Check the debunk article too: http://pragcap.com/debunking-the-big...comment-page-1

But I feel the videos do touch upon some truths, like how our wealth gets devalued when banks go on a printing spree.

[SmartCat]

The guy who wrote the debunk article watched the videos for just 5 minutes. In the 185 comments from readers of the blog, there are lots of arguments for and against what Maloney is saying. That is more interesting!

Here's another video (that Youtube recommended I watch!)

http://www.youtube.com/watch?v=d3mfkD6Ky5o

This one is not as "polished" as the Maloney video, but essentially says the same thing.


What I feel now is that Indian housewives are very very smart. They like to invest only in Gold (jewellery) and real estate - both of which are "physical assets", and mostly immune to global financial disasters!