Economist awake - finally

[4-2-7]

Originally Posted by icenine

I think it was unpegged from gold.

http://en.wikipedia.org/wiki/Nixon_Shock


this has been our world ever since.

So just sarcastics?

And nothing else.

Pretty much sums up the voting population knowledge. But they sure know how to chant talking points and run rants complaining and pointing fingers at others.

Well at least whatever political persuasion they want to believe in tells them too.

LMAO

[icenine]

You said Nixon pegged gold to the dollar in 1971.

was it a mistake?
he took us off the Gold Standard.

[4-2-7]

Originally Posted by icenine

I think it was unpegged from gold.

http://en.wikipedia.org/wiki/Nixon_Shock


this has been our world ever since.

Im sorry if I misunderstood your comment.

But would leave my comment above for most of the population.

[icenine]

Originally Posted by 4-2-7

I'm kind of tired now but just a quicky. Jackson crushed the banks, and yes there was some depressions. Facts are banks cause the depressions at will, this gives them political leverage. Then the politicians bend to make the voters happy. All the while passing laws that favor the banking institutions.

Well the Federal Reserve and a national currency was created to fix those sorts of problems by having the government regulate money and interest rates.
What is wrong with that? That is one reason our economic downturns are usually not so dramatic, 1929 and 2008 being exceptions.

[4-2-7]

Originally Posted by icenine

You said Nixon pegged gold to the dollar in 1971.

was it a mistake?
he took us off the Gold Standard.

Correct in 71 Nixon took us off the gold standard. That why I asked what happened since then.

[icenine]

Pretty decent economic expansions in the later 80s and most of the 90s......you do not remember the boom under Clinton?

[4-2-7]

Originally Posted by icenine

Well the Federal Reserve and a national currency was created to fix those sorts of problems by having the government regulate money and interest rates.
What is wrong with that? That is one reason our economic downturns are usually not so dramatic, 1929 and 2008 being exceptions.

Well you did read where I said banke create recessions / depressions at will to get there way. No difference with them forcing their hand to get the Federal Reserve passed into law.

You do know that the fed is privately owned?

Another fact two presidents have been assassinated.
One created a currency which was government issued, interest free. The banks didn't like that at all.
The other one was all set to do the same thing right up to designing and printing and signing into law.

Who where these presidents?

[4-2-7]

Originally Posted by icenine

Pretty decent economic expansions in the later 80s and most of the 90s......you do not remember the boom under Clinton?

Credit and money printing is not wealth. All we were doing was digging the hole deeper. Sooner or latter Debt has to get paid back.

Another fact every single dollar that is created is debt. Debt every man woman and child owes in the US.

[merrylander]

Originally Posted by 4-2-7

Credit and money printing is not wealth. All we were doing was digging the hole deeper. Sooner or latter Debt has to get paid back.

Another fact every single dollar that is created is debt. Debt every man woman and child owes in the US.

You sounnded off earlier about Keynesian economics, can you pleas tell us when his policies were ever followed in this country?

Oh yes, earlier you asked if I was old enough to remember WW II, heck I even remember the Great Depression, except that it really was not all that great.

[Tom Joad]

Originally Posted by bobabode

Where's the bug spray? I smell a John Bircher...

He's here to repeat his assigned right wing lie over and over and over again like a broken record.

I suspect we'll be seeing a lot more of them like him.

The right wing propaganda machine will be hiring a whole lot more paid shills now that it's an election year.

Sililar to the way retailers hire extra help for the Christmas shopping season.

Note his conspicuous absence of any response to this post of mine.

Originally Posted by Tom Joad

I started a thread on this a month ago:

http://politicalchat.org/showthread.php?t=6616

That's because my post tells the truth of why our economy started down hill in the 70's.