United States Heading towards a Depression?

The U.K. understood this, which is why they chose to not adopt the euro despite tremendous pressure to do so.

 

Bingo..
And its the reason the US should avoid doing the same at all costs.

 

There is a fledgling movement to develop a harmonius North American currency(U.S. dollar,Canadian dollar,Mexican peso).Not surprisingly it is the Mexicans who are pushing this the most.

 

I'm fairly certain the Canadians have long had a hand in that movement as well.... Have you seen their nickles and pennies? Can you imagine what an abortion they would make of a nationalized north American currency? We'd likely have Marty Moose on the 12 dollar coin.

 

On an interesting sidenote,because of the price of copper,it now costs the U.S and Canadian mints 2 cents to mint every penny.Time to eradicate these icons of a cheaper,less costlier age.

 

They've been saying that since the 1980's... Nothing new.

 

Obama's probably for it. What the hell, he's sold out to everyone else!

It costs pennies to to make paper currencies. I think we're safely in the black when it comes to money production.

 

Australia got rid of 1c & 2c about 20 years ago for that reason. When paying cash, 7c becomes 5c and 8c becomes 10c but they remain as they are if paying by plastic.

 

That will not work in USA, this kind of complicated math operation is behind the capabilities of most Americans.

 

I saw something shocking on Bloomberg today. They say that as a result of government policies, "the natural rate of unemployment has risen". "structural, rather than cyclical, factors are to blame."

"Real retail sales per employee have been on a persistent upward trend, roughly doubling over the past twenty years"
Dean Maki, Chief U.s. Economist for Barclay's

The natural rate is determined by the rate at which jobs are simultaneously created and destroyed, the rate of turnover in particular jobs, and how quickly unemployed workers are matched with vacant positions.

Part of this has to do with online retailers. But a lot of it has to do with the fact that traditional U.S. industries - automotive, computers, semiconductors - have matured and so have automated a lot of their processes using less people, and nothing has emerged to take their place.

Meanwhile, business innovation has been stifled in the USA. All the innovation is taking place in China, India, etc. It puts the blame on the present Administration, which is using the same old economic tactics in new global economic economy. In short, Obama is acting like it's a 1995 economy.

FOR EXAMPLE - Gas prices are up 86% since Obama took office. and now, Obama (the Anti-Energy President) just rejected the Keystone Pipeline. No new jobs, higher gas prices this year, and an extended economic depression.

 

Right, it is Obama fault that computers were invented. He should go in his time machine and go back in time and kill everybody who was working on computers.

 

U hum this thread is pretty old now. I am still getting stoned and watching movies and getting high

 

Common you obama supporting fools. We are still alive and I personally am making more money than the past. But then again I am white and I try hard.

 

Enjoy it while you can, right? You are predicted to be in the minority before long.

 

As far as I've read, the Cabinet didn't support this decision. have they negotiated about it again? Euro is very unstable now, if they do so, the currency won't have any future. Moreover, I've also heard that Germany is also discussing a possibility to return back to Deutsch Mark

 

Obama's problem is he fails to recognize opportunity and innovation when he sees it because his hands are tied by his special interests, failed ideology and undying mission to create more dependents.

 

hilarious nostalgia

Mar 27th 2008

Jun 26th 2008

Apr 2nd 2008

 

Keystone was such a glaringly bad decision, for jobs, for energy independence, for the cost of fuel. It is nearly as bad as his decision to spend the first two years of office pushing through a health care program most Americans hate, instead of working on the struggling economy.

For all his speeches, Obama's policies show that he thinks the jobs of the future will originate with the government, either by direct employ, or government loan and grant. I've contracted to state and city governments and they are, by far, the most uninnovative , bureaucratic, over spending, under achieving places to work in the country. Its no wonder that the Obama economy is as lackluster as his vision for the country.

 

Now Europe is more and more getting down to depression

 

And...

Price of gas back then, $1.61 a gallon. Now its $3.50 a gallon.

Deficit back then was $160 billion. Now its over 1.1 TRILLION with a T dollars!

National debt back then was 9 Trillion dollars. Now it is almost $16 TRILLION DOLLARS!

Unemployment back then was 7%. Now it is almost 20% REAL UNEMPLOYMENT!

I made more in 2008. My company had its best year in 2008. Everyone I know did a lot better in 2008 than they are now.

3 years later we've got double the debt, 16 times the Deficit, 3 times the unemployment, and the debt ceiling has been raised 3 times to more than our GDP. And we're NOT paying for any wars.

We were in a correction, not a recession or a depression. Now we are.

Real estate currently is worth no less than it was. Unless you were one of the unfortunate who over spent, overbought and paid more than the property was really worth.

My commercial real estate and private residence are worth more now than what I paid for them. But again, I did not overpay or overvalue those purchases.

I have no problem standing by anything I said in 2008. Because I was right.