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"SOMETHING BIG HAS HAPPENED BEHIND THE SCENES"
Posted By: Il_Bagattel
Date: Sunday, 21 November 2004, 11:29 a.m.
This just went up over at Le Metropole Cafe. Since it is a subscription service I cannot provide a link.
Something BIG is about to happen
Bill,
Greenspan’s comments on Friday will probably be a watershed event which will probably rank higher in historical importance than his "irrational exuberance" comment. The following statement from his speech is very revealing:
"rising interest rates have been advertised for so long and in so many places that anyone who has not appropriately hedged this position by now is obviously desirous of losing money."
He also said:
"Given the size of the U.S. current account deficit, a diminished appetite for adding to dollar balances must occur at some point …But when, through what channels, and from what level of the dollar? Regrettably, no answer to those questions is convincing."
He is trying to pretend that what is coming has been envisaged by all the smart people…for "people who are desirous of losing money" read "ignorant and stupid". But wait a minute! Did anyone notice the US Treasury re-instate the 30 year bond? No, of course you didn’t because it wasn’t re-instated. If the much higher interest rates were so clearly signaled then why is the US Government borrowing on a short term basis and not locking in low rates for 30 years?…especially when he cites the massive US debt burden as the reason that the system will come unglued in the first place.
In March, Fed Chairman Alan Greenspan said that ``the odds are favorable that current account imbalances will be defused with little disruption´´. That can hardly be claimed as a "hey, we told you so. Get hedged against sudden adjustments or else!".
But on October 7 we had the following not widely reported comments from Robert McTeer
Oct. 7 (Bloomberg) -- The record U.S. current account deficit will lead to an inevitable decline in the value of the dollar, a drop that might be rapid and provoke a financial crisis, Dallas Federal Reserve Bank President Robert McTeer said.
In a New York speech, McTeer said a precipitous drop in the U.S. currency would lead to a big jump in interest rates. He offered no easy policy solution, saying he `` feels foolish warning about it´´ because ``nothing bad has happened so far.´´
The current account deficit, which reached $166.2 billion in the second quarter, ``is going to cause problems, but we just don´t know when,´´ McTeer said at a New York event hosted by Market News International.
At some point, foreigners will slow their investments in the U.S., meaning capital ``flows will turn against us, and there will be crisis that will result in rapidly rising interest rates and a rapidly depreciating dollar that will be very disruptive,´´ he said. ``But I don´t know what to do about it.´´
[Emphasis added]
So McTeer knew that the US economy is at 30,000 feet and the plane just ran out of fuel and he doesn’t know what to do. Greenspan, who could see no problems in March, now says the smart passengers should have brought parachutes with them!
Greenspan said on Friday that forecasting exchange rates "has a success rate no better than that of forecasting the outcome of a coin toss." Greenspan is now on the record as not being able to recognize asset bubbles and not being able to forecast the direction of exchange rates. By his own admission he is clueless. Perhaps he should subscribe to LeMetropoleCafe because we have a 100% success rate on both counts!
It looks to me that something big has happened behind the scenes. Has China or Japan privately said they will not support the dollar anymore? We already know that Russia has stopped weakening the Ruble. Whatever it is, it is clearly a very big deal and unpreventable.
Greenspan is rarely as lucid as in this speech. It looks as if they have come to the end of the road. Following the Greenspan "put" has been very profitable for those who have blindly accepted the infallible "wisdom" of the Wizard of OZ. The man behind the curtain is now clearly visible. As the words of the "Maestro" are contemplated by his flock this weekend it must be surely comforting for them to know that EVERY short future gold position held by anyone is underwater and that EVERY long future gold position is in the money. The Gold Cartel and Gold Cartel roadies need to workout if Greenspan is just kidding or if they have just been double-crossed. (I’ll give them a hint: Greenspan is not kidding).
The next few days or weeks will be very revealing. |
| Natasha
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
Interesting... |
| Clear Eyes
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
Words to the wise. |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
bump |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
Interesting? I´d say it´s scary. |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
|
| Clear Eyes
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
I´d say get out of debt, don´t add to it.
Forget shopping for Christmas, pay your bills ahead instead and store up while things are as ´cheap´ as they are now.
Anyone with half an eye on the world scene knows what´s about to happen financially .. most just chose to ignore it. |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
NEW YORK -- Treasurys suffered a poor session Friday, in the wake of surprisingly candid remarks by Federal Reserve Chairman Alan Greenspan.
In a speech to European bankers in Frankfurt, Mr. Greenspan said "it seems persuasive that, given the size of the U.S. current account deficit, a diminished appetite for adding to dollar balances must occur at some point."
He followed that up during a question-and-answer session with a stern warning to fixed-income bulls.
Asked if emerging-market economies are prepared for a higher interest-rate environment or if new crises are around the corner, Mr. Greenspan said, "Rising interest rates have been advertised for so long and in so many places that anyone who hasn´t appropriately hedged his position by now obviously is desirous of losing money."
The talk sent yields sharply higher across the curve, with the two-year note hitting a new high for the year, above 2.98% from its opening level of 2.84%.
"Greenspan´s comments were pretty negative for Treasurys" since diminished demand for dollars means foreigners will eventually buy fewer Treasurys among other U.S. asset classes, said Brian Edmonds, head of U.S. Treasury trading at Banc of America Securities in New York.
After the initial down trade filtered through the market, yields ebbed back from their highs during the afternoon session. In late trading, the two-year note was yielding 2.92%, while the 10-year yield pulled back to around 4.20% from its earlier peak near 4.22%. The benchmark maturity was yielding around 4.10% before Mr. Greenspan´s remarks.
"The bluntness of his remarks moved the bond market," said Jim Cusser, portfolio manager at Waddell & Reed in Kansas City, Mo., who manages $1.5 billion of fixed-income assets. But, after the initial Treasury market reaction, "on reflection Greenspan´s words are more of a hope than a warning," said Mr. Cusser. "Higher rates in the future would reflect improving growth prospects."
Indeed, traders noted that the 10-year note remains within its recent 4% to 4.30% range and ahead of Thanksgiving next week, this boundary should hold.
Around 3:45 p.m. EST, the 10-year Treasury note stood at 100 12/32, down 22/32 to yield 4.20%. The 30-year bond was off one full point at 107 10/32, yielding 4.88%.
The five-year note was down 13/32 to 99 23/32, yielding 3.56%, while the three-year note was off 7/32 to 99 18/32, yielding 3.16%. The two-year note was down 4/32 to 99 7/32 to yield 2.92%.
Despite the chairman´s warning that higher rates are coming, many investors have been positioned for such an outcome only to get burnt. During the third quarter, many bond desks across Wall Street suffered losses when higher rates didn´t materialize, and long-term investors have been underweighting their holdings of Treasurys within their portfolios since the start of the year.
For now, the Fed remains on course to raise its federal-funds rate to 2.25% from 2% when it meets in December, and by the end of 2005, three month eurodollar interest-rate futures are forecasting a three-month rate around 3.50%, placing the overnight funds rate above 3%.
Against this expectation of tighter policy, the bond market recently has been flattening the yield curve, and is thus telling the Fed that its intention to keep raising rates is seen "reducing long term growth prospects" said Waddell´s Mr. Cusser.
In the initial down trade after Mr. Greenspan spoke, the difference between the two- and 10-year note yields flattened to a new year low of 1.23 percentage points. Over the past month, the yield curve between the two-year and 10-year notes has compressed from around 1.50 percentage points and in recent trading was a touch steeper for the session at 1.28 percentage points.
Not everyone attributed the movements in Treasurys to Mr. Greenspan´s views alone, however.
Paul Calvetti, head of U.S. government-bond trading at Barclays Capital in New York, blamed the weakness on the reversal of a global sovereign-debt trade that earlier in the week had provided solid support to the market in the face of unfriendly economic news that typically drives prices lower.
As the yield spread between the 10-year Treasury and 10-year bund narrowed toward 30 basis points from 50 basis points earlier in the week, an investor or investors reversed course and sold Treasurys to buy bunds since economic fundamentals in the long term suggest the U.S. debt markets will underperform those in Europe.
Traders believe the instigation of the sell bund, buy Treasurys trade earlier in the week was driven by opportunistic profit-taking rather than a change in longer-term views. The reversal of the trade also coincided with a deepening of euro strength against the dollar.
By Michael Mackenzie, Dow Jones Newswires; 201 938 5451; michael.mackenzie@dowjones.com;
(Agnes T. Crane in New York, Ulrike Dauer in Frankfurt and Joe Rebello in Washington contributed to this article.) |
| Natasha
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
Does something big necessarily have to happen to set our economy off? |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
I think it is always wise to be out of debt.
Why would it be more important now? If the rate is fixed you are locked in. If the whole thing hits a sand bar we are ALL in this alone.
Who collects? |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
[link to news.silverseek.com]
The Rothschilds are leaving the "gold fixing" business. See [link to www.mineweb.net]
To understand why this is such a huge bombshell, you have to know who the Rothschilds are, and what the gold fix is. So here is a bit of background, a summary of what I know.
Let´s start with the famous story of how Nathan Rothschild cornered the stock market in London. The Rothschilds were a banking family that went way back much earlier than Napoleon´s time. When Napoleon was fighting his last great battle at Waterloo, if he won, it was expected by the markets in London that Napoleon would become the undisputed master of Europe, and that England´s stocks would crash. If Napoleon lost, it was expected by the market would boom. Nathan Rothschild, already a very rich man, knew this and had arranged in advance to get advance knowledge of the battle´s outcome. When he learned that Napoleon lost he started selling. Others saw his selling, which was huge, and assumed that Nathan knew Napoleon had won. This quickly caused a market panic, and prices hit rock bottom. Nathan then turned around, and started buying, right at the bottom. Then, news arrived that Napoleon had lost, and stocks soared. Nathan had made 10-20 times his money in one day, in the greatest trade ever made. Some would say it was manipulation, or insider trading, but he just had better information than everyone else, and actually risked his entire fortune when he sold out. Those who followed what Nathan was doing, and made the false assumptions, made the mistakes.
For more details on that story, see the following links, which I was able to quickly find at google.com search of "rothschild waterloo napoleon":
[link to www.the7thfire.com]
[link to www.davidicke.net]
The point is the Rothschild family dynasty is very, very wealthy. Here´s another part of the story, about the gold fix.
If you order silver or gold bullion through one of the very large brokerage houses, they will take your order and tell you that they cannot guarantee fulfillment nor can they lock in a price until either the AM or PM "fix". So, your order must be either a market order, or limit order, just like if you were ordering stock. They do not guarantee a price based on the current spot price, like a local bullion dealer might. Instead, they have to wait until the fix. Thus, I know the fix is real, because I´ve tried to place market orders based on the current spot price, and they will not take them nor will they lock in the price until after the next fix. They will only take your order if you agree to let the price be set at the fix.
At the fix, there are five seats, five people from five of the largest bullion banks, and it is, or was, hosted by the Rothschilds. They would gather all the largest bullion orders to buy and sell from around the world, and then, in secret, set the price. This is done in secret, even though the trading done on the futures exchanges are always "open outcry" type. Obviously, the fix is hypocritical, and out of step with modern trading. Obviously, setting the price of gold gives one a great amount of power over world finance. They can "cap" the price at the fix, by selling the tiniest bit of gold out of their own accounts, to always slightly exceed demand. Or, they can allow the price of gold to rise, by doing a bit of buying for their own accounts, slightly in excess of world demand. Thus, by getting an advance look at all the orders to buy and sell gold for the day, they can completely control the price, and know the price well in advance of everyone else. As a trader, I know that this can easily give one nearly unlimited power to gain wealth.
Now here is an interesting side story that a man once told me, because of my position as a writer. He told me this story nearly a year ago. He said that eventually I would find a time to tell this particular story. This time is now. He said he was a broker for the Hunt brothers in 1980. The Hunt brothers were the ones who were buying silver as the price of silver moved up to $50/oz back in 1980. This man was hired by the Hunts to offer $1 billion dollars for a seat at this "gold fix". The offer was laughed at, and turned down. If this story is true, it means that to be one of the five that fix the price of gold is worth more than $1 billion dollars! I believe this story is true.
This also means that the Rothschilds, by giving up the chair of the fix, are giving up something worth perhaps over $4 billion, since each seat is worth $1 billion or more.
Now you see why this is such astounding news. A bombshell for the gold market.
You just don´t give up hosting a roundtable, where each of the five seats is worth over a billion dollars! Think about it!
In the press release, it says the Rothschilds are getting "out of the gold business". People will assume they are thus selling gold. This is probably exactly the opposite assumption one should make, just as everyone else made the wrong assumptions about what Nathan Rothschild was doing after the battle of Waterloo. Reading a bit closer, you can see that the Rothschilds are getting out of the gold leasing business.
"He said the bank´s gold operations consisted mostly of hedging gold producers´ exposure to the market."
Gold producers, in the last few years, have been unwinding hedges, hedging less. Thus, there are less paper contracts that the miners are creating. The miners and mining investors all want the miners to be unhedged, to be fully exposed to price rises in gold and silver. And yet, over at the COMEX, paper contracts are increasing in size and number. Idiot commentators assume this means miners are hedging more. No, it means the ones who are hedging more are the bullion banks. |
| Natasha
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
And all of this means...The Rotschilds believe it will be more profitable for them to give up their seats.....why? |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
The U.S. like the rest of us can only live beyond it´s menas for so long before it´s time to start paying up. How long can they keep spending billions on the war in Iraq before there aint no more money? |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
" . . .. a precipitous drop in the U.S. currency would lead to
a big jump in interest rates."
It has been predicted that the rise in the interest rates will BURST the HOUSING BUBBLE like the internet bubble.
Read the article
Is a USA Economic Collapse Due in 2005?
[link to 216.180.244.91]
28581&topic=3&showdate=11/17/04 |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
For those of us that are not fluent in International money speak could please tell us what this means to the ordianry Joe with a mortgage and a JOB? |
| Natasha
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
Well yes, we know this...is would be not good for Americans. |
| Clear Eyes
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
"In the press release, it says the Rothschild´s are getting "out of the gold business". People will assume they are thus selling gold. This is probably exactly the opposite assumption one should make, just as everyone else made the wrong assumptions about what Nathan Rothschild was doing after the battle of Waterloo. Reading a bit closer, you can see that the Rothschild´s are getting out of the gold leasing business."
If people do as they have before, this should send gold prices way down .. so the Rothschild´s can buy back what they sold and more at the rock bottom price.
Then will they confiscate the gold/silver from the public that follows their lead? |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
Do the math on a variable mortgage of $100,000.00 with interest rate increases of 5.5. If you have a variable mortgage than that’s how much your monthly mortgage payment will go up. |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
House prices fall drastically. The value of your home is now way below the amount financed, so the mortgage company forecloses. |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
There are term and incremental caps on most variable rate mortgages.
A 10% rate is what was around in 1986 (a bad economic/job market period) It will not kill the universe. |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
he said. ``But I don´t know what to do about it.´´
Well SHIT, we should FIRE his ASS since he does not know what to do about it.
What the fuck is he getting paid for?
What is this shit, " . . . I don´t know what to do about it´´ ? |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
 |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
Housing bubble is busting in the UK. |
| Clear Eyes
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
Here´s how the IMF (International Monetary Fund) does it ..
do you believe they wouldn´t do it to ´us´?
~~~~
It was like a scene out of Le Carré: the brilliant agent comes in from the cold and, in hours of debriefing, empties his memory of horrors committed in the name of an ideology gone rotten.
But this was a far bigger catch than some used-up Cold War spy. The former apparatchik was Joseph Stiglitz, ex-chief economist of the World Bank. The new world economic order was his theory come to life.
He was in Washington for the big confab of the World Bank and International Monetary Fund. But instead of chairing meetings of ministers and central bankers, he was outside the police cordons. The World Bank fired Stiglitz two years ago. He was not allowed a quiet retirement: he was excommunicated purely for expressing mild dissent from globalisation World Bank-style.
Here in Washington we conducted exclusive interviews with Stiglitz, for The Observer and Newsnight, about the inside workings of the IMF, the World Bank, and the bank´s 51% owner, the US Treasury.
[Who effectively controls the US Treasury? The Federal Reserve Corporation? And who owns the Fed? See: [link to www.transaction.net] for some interesting leads.]
And here, from sources unnamable (not Stiglitz), we obtained a cache of documents marked, `confidential´ and `restricted´.
Stiglitz helped translate one, a `country assistance strategy´. There´s an assistance strategy for every poorer nation, designed, says the World Bank, after careful in-country investigation.
But according to insider Stiglitz, the Bank´s `investigation´ involves little more than close inspection of five-star hotels. It concludes with a meeting with a begging finance minister, who is handed a `restructuring agreement´ pre-drafted for `voluntary´ signature.
Each nation´s economy is analysed, says Stiglitz, then the Bank hands every minister the same four-step programme.
Step One is privatisation. Stiglitz said that rather than objecting to the sell-offs of state industries, some politicians -- using the World Bank´s demands to silence local critics -- happily flogged their electricity and water companies. `You could see their eyes widen´ at the possibility of commissions for shaving a few billion off the sale price.
And the US government knew it, charges Stiglitz, at least in the case of the biggest privatisation of all, the 1995 Russian sell-off. `The US Treasury view was: "This was great, as we wanted Yeltsin re-elected. We DON´T CARE if it´s a corrupt election."´
Stiglitz cannot simply be dismissed as a conspiracy nutter. The man was inside the game -- a member of Bill Clinton´s cabinet, chairman of the President´s council of economic advisers.
Most sick-making for Stiglitz is that the US-backed oligarchs stripped Russia´s industrial assets, with the effect that national output was cut nearly in half.
After privatisation, Step Two is capital market liberalisation. In theory this allows investment capital to flow in and out. Unfortunately, as in Indonesia and Brazil, the money often simply flows out.
Stiglitz calls this the `hot money´ cycle. Cash comes in for speculation in real estate and currency, then flees at the first whiff of trouble. A nation´s reserves can drain in days.
And when that happens, to seduce speculators into returning a nation´s own capital funds, the IMF demands these nations raise interest rates to 30%, 50% and 80%.
`The result was predictable,´ said Stiglitz. Higher interest rates demolish property values, savage industrial production and drain national treasuries.
At this point, according to Stiglitz, the IMF drags the gasping nation to Step Three: market-based pricing -- a fancy term for raising prices on food, water and cooking gas. This leads, predictably, to Step-Three-and-a-Half: what Stiglitz calls `the IMF riot´.
The IMF riot is painfully predictable. When a nation is, `down and out, [the IMF] squeezes the last drop of blood out of them. They turn up the heat until, finally, the whole cauldron blows up,´ -- as when the IMF eliminated food and fuel subsidies for the poor in Indonesia in 1998. Indonesia exploded into riots.
There are other examples -- the Bolivian riots over water prices last year and, this February, the riots in Ecuador over the rise in cooking gas prices imposed by the World Bank. You´d almost believe the riot was expected.
And it is. What Stiglitz did not know is that Newsnight obtained several documents from inside the World Bank. In one, last year´s Interim Country Assistance Strategy for Ecuador, the Bank several times suggests -- with cold accuracy -- that the plans could be expected to spark `social unrest´.
That´s not surprising. The secret report notes that the plan to make the US dollar Ecuador´s currency has pushed 51% of the population below the poverty line.
The IMF riots (and by riots I mean peaceful demonstrations dispersed by bullets, tanks and tear gas) cause new flights of capital and government bankruptcies. This economic arson has its bright side -- for foreigners, who can then pick off remaining assets at fire sale prices.
A pattern emerges. There are lots of losers but the clear winners seem to be the western banks and US Treasury.
Now we arrive at Step Four: free trade. This is free trade by the rules of the World Trade Organisation and the World Bank, which Stiglitz likens to the Opium Wars. `That too was about "opening markets",´ he said. As in the nineteenth century, Europeans and Americans today are kicking down barriers to sales in Asia, Latin American and Africa while barricading our own markets against the Third World´s agriculture.
In the Opium Wars, the West used military blockades. Today, the World Bank can order a financial blockade, which is just as effective and sometimes just as deadly.
Stiglitz has two concerns about the IMF/World Bank plans. First, he says, because the plans are devised in secrecy and driven by an absolutist ideology, never open for discourse or dissent, they `undermine democracy´.
Second, they don´t work. Under the guiding hand of IMF structural `assistance´ Africa´s income dropped by 23%.
Did any nation avoid this fate? Yes, said Stiglitz, Botswana. Their trick? `They told the IMF to go packing.´ Stiglitz proposes radical land reform: an attack on the 50% crop rents charged by the propertied oligarchies worldwide.
Why didn´t the World Bank and IMF follow his advice?
`If you challenge [land ownership], that would be a change in the power of the elites. That´s not high on their agenda.´
Ultimately, what drove him to put his job on the line was the failure of the banks and US Treasury to change course when confronted with the crises, failures, and suffering perpetrated by their four-step monetarist mambo.
`It´s a little like the Middle Ages,´ says the economist, `When the patient died they would say well, we stopped the bloodletting too soon, he still had a little blood in him.´
Maybe it´s time to remove the bloodsuckers.
gregory.palast@observer.co.uk |
| NIMRUTH
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
the Rothschild´s are getting "out of the gold business"...yeah right..
I will tell you what that means.. they controlled the price and thus the markets of PM, and mostly in Gold.
Now they tell us they have stopped doing so... controlling the markets.. it costs them too much...
The price `o gold will will rise steadily from now on..
The importance of a ´Free´-market in Gold is the following : MOST currency`s are based on it`s value...
We`re in for a rocky ride, that`s for sure.. |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
it would certainly "kill" as you put it, our economy which is (if you look at reality and not the shit stained lies coming out of this administration´s mouth) barely alive today |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
the economy and job market were horrible in 86. of course you probably don´t remember cause you were too stoned. |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
horible but repair-able. which is a point WELL behind us now |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
"the economy and job market were horrible in 86"
I remember the 80s fresh out of high school and waitressing/gas jockey the only jobs. I went back to school, easier to be learning and poor than miserable and poor. |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
you cant have interest rates at anywhere above 4~5. it just couldnt happen, ppl will be starving and out in the street, and the interest rate wouldnt be an issue anymore because no one would be financing a house or anything else they cant afford. get over the effin 80´s man, they´re long gone and so is any trace of value of our currency & bonds |
| Anonymous Coward
12/8/2005 10:18 AM | | Re: SOMETHING BIG HAS HAPPENED BEHIND THE SCENES | Quote |
the only thing you know for sure that is behind you is your stinky arse. Now go wipe! |
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