Is It Time to Bail Out of the US?

Hello Folks,
I want to ask if any of you out there can give me 5000 US Dollars each. I know there are at least thousands of Americans living here. So say 100 donate 5 Grand each. I am a poor man without any fixed assets. I need money badly to by something of value. Don't worry I will make sure you all get it back one day.
I will return tomorrow to with high hopes.
I am sorry, please don't ask what I am going to do with this money. You have to trust me.
 
What are you a "bankster" or CEO of some company that needs a bailout?
 
Time to start investing back home folks...

Have a Buck? Buy a House!

"A dollar doesn't buy much these days. But in Detroit, it can buy you a house.

Real estate agent Ian Mason, who specializes in selling foreclosed properties, showed us a two-bedroom, 800-square-foot home that his agency recently sold for a single dollar."

abcnews

THAT'S cheap
 
Lucas said:
THAT'S cheap
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I know about those houses. They typically need $10,000-$20,000 worth of repairs. They're standing in the middle of deserted neighborhoods. Detroit doesn't have a single grocery chain right now. Plus the dollar asking price doesn't cover some extra charges and duties. The fact that realtors and banks are anxious to unload them for a few dollars should itself be cause for concern. In short, the houses are not cheap at any price.
 
This is not new to anyone in the IOUSA. In fact New York City started this in 1939. I think it was the Mayor then who's name bears the airport now, LaGuardia.
As a matter of fact this NYC money is still available and people got and are still getting filthy rich off it.

On another note. The mighty green back has been really kicking the shit out of most currencies around this global village. ( I like that word)
It reached an all time high of 90 on the usdinidice. Never has it got that high. Some techies thought that we would see it go higher since it broke an all time resistance level. I was not one of them. Now that it has dropped back I am so very happy to see it in its decline that I have been speaking about here. The greenback is on the way down. The all time high resistance level was last seen in 77 and if the green back goes through that, wow. I will kiss the blarney stone. Then of course if it breaks the bottom resistance of 62, well game over.
The bailout plan envisioned by Obama will never work. I have said it before, he has too many old Friedman students in back of him.
Too bad, he is what I always envisioned as a President of the USA. Too late too soon
 
jedard said:
. . . . The mighty green back . . . . has dropped back . . . . The greenback is on the way down. . . .
Click to expand...
It fell because of the most recent program of inflation, announced yesterday afternoon. If (as some observers think) the American is but the first central bank to inflate out of this depression, other currencies will fall in turn and all will regain approximately the same relationship as appertained a few days ago. If (as others think) this is a deliberate sacrifice of the dollar to save the global economy, much as America takes a hugely outsized percentage of the third world's emigrants in part in order to buffer the rest of the first, you're on target: the dollar may continue to sink and will not regain its recent preferential place in relation to most other currencies.
 
Im pretty interested in forex for the last year or so since EUR/USD went from 1.60 to 1.23 and back to 1.47 in the space of 6 months up to January this year. It was very interesting to see it shoot up over 200 pips in less than 5 seconds yesterday when the Fed announced plans for quantitative easing. The dollar was doing well for a while because it was seen as the safe haven and when stock markets are in the doldrums people see forex as a safe bet and the dollar as even more of a safe bet. It is going to be interesting what happens from here. EUR/AR$ wnt from about 4.5 to 5 in the space of 3 and a half days alone.

Does anyone know the full story about the measured devaluation the Argentine central bank is involved in concerning the peso? Do they have a general target?
 
Fed Moves Spark Refi Madness!

mike-larson.jpg

by Mike Larson
03-20-09

The Federal Reserve has done it now. In poker terms, it’s gone “all in.”

Specifically, the Fed said this week that it will ramp up its purchases of Fannie Mae and Freddie Mac Mortgage Backed Securities (MBS) from $500 billion to a whopping $1.25 TRILLION in the coming months. The Fed is also going to double its purchases of Fannie Mae, Freddie Mac, and Federal Home Loan Bank bonds to $200 billion from $100 billion.

And for the icing on the cake …

The Fed will buy as much as $300 billion in longer-term U.S. Treasury securities. It’s going to focus on Treasuries with maturities between two and ten years, and make purchases two or three times a week.
Printing money and using it to buy our own debt is Banana Republic-type stuff.

money.jpg

Printing money and using it to buy our
own debt is Banana Republic-type stuff.

I’m going to call it like I see it here:

This is Banana Republic-type stuff! And I’m not talking about the clothing store. Printing money out of thin air at the central bank, only to turn around and buy debt securities issued by your Treasury, is the kind of practice you typically see in emerging market regimes.

We’re essentially monetizing our country’s debt and deliberately devaluing our country’s currency. We’re also screwing over our foreign creditors — a dangerous path to tread considering we’re a net debtor nation that’s trying to borrow tens of billions of dollars a month to fund our massive deficits.

But what’s done is done …

We’ve gone off the edges of the map now, and in a way that I think will ultimately end badly. Indeed, the Fed’s actions sparked the biggest one-day plunge in the U.S. dollar in several years. Gold also surged, a vote of no confidence in central bankers’ willingness to preserve our purchasing power.

...more
 
Haha, reminds me of a friend in University back in the 70`s. He was worried about pollution, dissolution of society, nuclear war, etc. He said that he had researched ideal places to move to to escape the ills of modern society, and determined that the best place was one in the southern hemishere more removed from the aircurrents of the troublesome northern hemisphere, where life was simple and there would be no war becaus eit was in an inconsequential place nobody wanted. So, he got a job as a sheephereder in a place none of his buddies had heard of, called the Falkland Islands. The last I heard of him when he was interviewed by BBC as a Canadian resident of the isalnd when he looked shocked. As far as we know he still stayed there, perhas realizing as all mature people should that there is no paradise, and that any place can be both hell and heaven on earth.

To quote my guru Wally Gator from the now long defunct but brilliant strip Pogo: "We have met the enemy, and he is us!"

:)
 
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