the day the dollar died..who memba dat song?

[Dr.Dudd]

Re: the day the dollar died..who memba dat song?

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">even with the reduced consumption the market is still the largest (spending powerwise) in the world </div></div>What is the value of the spending power without credit??

taking int consideration that credit is responsible for over 80% of spending,and the banks has put it beyond th reach of the majority with their rapacious FICO score and resultant 30% intrest rate.

[evanovitch]

Re: the day the dollar died..who memba dat song?

not to mention, who gwine to extend credit to people wid diminished income an wich diminished income earner gwine to want to tek awn debt dem cannot pay...it is bak to the basics for a lot of people....Freddie Mac announce seh dem a go allow people fi rent di houses dat dem lose in foreclosure...so peeps already a go bak to renting wat dem did already a pay fah, so how low in consumer confidence is dat...even Hollywood's Variety paper announce cutbak...even Hollywood gossip reporting in economic slowdung

[barosa]

Re: the day the dollar died..who memba dat song?

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"><span style="font-weight: bold">The U.S. Chamber of Commerce stepped up efforts on Friday to kill a popular &quot;Buy American&quot; provision before it reaches President Barack Obama's desk as part of an mammoth economic stimulus bill.

&quot;Some have slammed the U.S. Chamber for opposing &quot;Buy American&quot; provisions, calling our position 'economic treason,'&quot; the group's president Thomas Donohue said in a statement.</span>

&quot;Try economic patriotism. Such provisions would cost American jobs, trigger retaliation from our trading partners, slow economic recovery by delaying shovel-ready infrastructure projects and cede our leadership role as a longstanding proponent of free and fair trade and global engagement.&quot;</div></div>
I will respond by stating a very popular saying : &quot;Nothing is new under the sun&quot; ~ The AMERICAN ECONOMY, the greatest the world has known has been down that road before, long before it became great... - Some of us have heard or read about the the Great Depression of the 30's which actually started in 1929. The Obama Administration is caught between a ROCK and A HARD PLACE with not too many options before it. With the rapid unravelling of the economy, triggered by &quot;The Financial Crises&quot;, followed by severe job losses in the Industrial Sectors, <span style="font-weight: bold">What would anyone expect the U.S. Chamber of Commerce to do?</span> It's only natural that they would want to act in their own interest, meaning the United States's Interest. China's action as a world player will be very interesting...

The same things happened in the early stages of the Great Depression when nations tried to protect the jobs of their own workers and Industries. The restriction on foreign goods and products were in vogue using Tarrifs. No one really knows how this will end, but it will need &quot;World Co-operation&quot; and comming together &quot;if they can&quot; OBAMA style, to solve the mounting problems. The US more than many is in a good position to avoid the mistakes of the past by learning from them, but will they??? The US dollar will not DIE as the song implied (must be the Ja. Dollar Tosh sang about) but as rumor has it, there are plans afoot to stabilized it as one of the three Dominant currencies in the world... When will that be? is anyone's guess.
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Boy! Aren't we living in interesting times?