| User Info
| Open Note To Tim Geithner in forum [Market-Ticker]
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Asimov
Posts: 103848
Incept: 2007-08-26
East Tennessee Eastern Time
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People only learn from personal experience. Learning from history is a pipe dream for all but a few.
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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
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Dji
Posts: 1245
Incept: 2009-04-21
Ponzi world 3rd rock from the sun
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No this time we will make the great depression look like a mild recession.
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Don't be a bag holder-Me
What goes up Must come Down- Alan Parsons Project
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Lanemeyers
Posts: 1191
Incept: 2008-01-22
Seattle
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Wow, who would ahve known that history has all the answers?
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I change by not changing, at all.
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Noodleman
Posts: 2384
Incept: 2008-11-01
Online
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And when Timmy's fiscal policies fall flat on their face watch for the administration to start beating the war drums (as in the 30's) and put tens of thousands of american lives on the line to save the economy. But it will be interesting to see who they choose as an enemy in this nuclear age. Or maybe I'm out to lunch. Maybe it was all meant to be and they'll just divide us up into 4 or 5 pieces and sell us to the highest international bidders? We live in interesting times.
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"Ammunition beats persuasion when you are looking for freedom." Will Rogers, 4 Nov 1879 - 15 Aug 1935
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Gmak
Posts: 10179
Incept: 2007-07-27
Re-inventing the future at the speed of time.
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Passchendaele
Posts: 352
Incept: 2008-12-17
Pacific Northwest
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Oh people learn from history: FDR was a demigod, saved the country from a depression and the world from fascism.
It is all in your kid's history books and adult periodicals.
Russians feel the same way about Stalin.
Sad.
Most people won't accept anyinformation to the contrary, especially now. To challenge the legacy of FDR is to challenge The One, and that's not PC.
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Jstanley01
Posts: 8166
Incept: 2008-07-30
San Antonio, Texas
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This time, factoring in nuclear weapons, ballistic missiles and all, I doubt we're going to be "saved" by a world war. Besides, I could be wrong, but I don't think China is anywhere near as stupid as Hitler's Germany or Hirohito's Japan.
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You can't cheat an honest man. ~P.T. Barnum
Reason: dept. of redundancy dept.
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Reza30
Posts: 289
Incept: 2009-02-15
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Tesla
Posts: 15541
Incept: 2008-04-03
State of Disbelief
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I'd address that to Obama and CONgress too. Turbo Timmy ain't the only one spending the big bucks; CONgress owns the oversight responsibility and Obama the enforcement responsibility ... Edit: Quote:“We need to know how the U.S. government can achieve this objective.” A lot of us would like that answer.
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"Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes
"Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams
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Weaseldog
Posts: 282
Incept: 2008-12-11
Texas
Banned
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We assume that Their plan is to save the economy.
What if it isn't?
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"You can know the name of a bird in all the languages of the world, but when you're finished, you'll know absolutely nothing whatever about the bird... So let's look at the bird and see what it's doing -- that's what counts." - Richard Feynman
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Mlshawaii
Posts: 1785
Incept: 2009-05-13
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Reza,
That just made my day. Thank you.
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Centurion
Posts: 76
Incept: 2009-05-14
DFW
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Quote:Besides, I could be wrong, but I don't think China is anywhere near as stupid as Hitler's Germany or Hirohito's Japan.
Using North Korea as a catspaw does not strike me as a sign of a nation's superior intellect.
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- If you're not being shot at, it's not a high stress job.
- The right to self-defence is THE basic human right.
- No, I don't know everything .... I'm just REALLY good with Google.
- Trying not to be a tinfoil guy. But can you really blame me after the actions of Fed & Treas?
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Randy123
Posts: 5767
Incept: 2008-09-24
Earth
Online
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Its being repeated Karl. Its too late.
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China is the Enemy. Wake Up.
New Normal. Same As The Old Awful.
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Jstanley01
Posts: 8166
Incept: 2008-07-30
San Antonio, Texas
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Centurion: NK isn't big enough to start a world war. They might take out LA, but then they'd be stomped on like a cucaracha on the dance floor at a cantina. And I'd bet, considering their portfolio, that China would be wearing one of the boots.
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You can't cheat an honest man. ~P.T. Barnum
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Trades50
Posts: 4214
Incept: 2007-10-30
Land of Tax and Spend
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Reza, Good one.
Sort of like Timmy and Benny. Would make a good comic strip.
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When the people fear the government, there is tyranny. When the government fears the people, there is liberty. - Thomas Jefferson
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Trappped
Posts: 73
Incept: 2009-02-13
Banned
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"And I have just one interest, and now if I am wrong somebody else can have my job. I want to see this country prosper."
Karl,
These are two big assumptions on your part......one interest......see this country prsoper.
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Planb
Posts: 5
Incept: 2009-05-26
tryon,n.c.
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Hi weseldog, At no time am I convinced that their intent is/was to save this economy.
Nothing has been done towards the private sector to put the brakes on the daily incremental decline of the economy.
I take that back. Only thing done to date is line the pockets of the very people who've caused this.
And it will get worse.
And I'm a positive guy.
I truly wish everyone the best.
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Man will never be free until the last King is strangled with the entrails of the last Banker.(Unknown)
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Lugnut
Posts: 347
Incept: 2008-09-24
New Jersey
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"Do we really need to repeat history in order to learn from it?"
No, we merely need to repeat it, nothing more, as it is the President perogative to make whichever mistakes he so chooses, and appropriately place the blame elsewhere for the failure of those policies.
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Abn0rmal
Posts: 9261
Incept: 2009-01-10
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Quote:But it will be interesting to see who they choose as an enemy in this nuclear age. Blame Canada! |
Trader_kid
Posts: 6820
Incept: 2007-09-27
USA Prime Credit
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Quote:"Do we really need to repeat history in order to learn from it?" there's a quote that says that the really astute people are able to learn from other people's mistakes instead of their own. it's not about hoping that other people fail, but it's that it's much harder to learn from the mistakes from others because most people look at other's mistakes and get a "that won't happen to me" attitude, or they look at the mistakes of others and simply assume that they would never do that.
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"(The Fed) is in the business of imposing false values." - Jim Grant
"When the fear of losing money overcomes the fear of being thought stupid, that's when you get capitulation." - Art Cashin
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Templar223
Posts: 779
Incept: 2008-04-28
Champaign, IL
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Quote:Do we really need to repeat history in order to learn from it? But Obama and his ilk are so much smarter than those who've tried and failed at this before. C'mon, Karl. I thought you knew this! John |
Phif
Posts: 228
Incept: 2008-08-06
Atlanta. Ga
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I would like to nominate Comrade Yu for Tim and Ben's positions -
Another global financial crisis triggered by a loss of confidence in the dollar may be inevitable unless the U.S. saves more, said Yu Yongding, a former Chinese central bank adviser
It may be helpful if “Geithner can show us some arithmetic,” said Yu. “We need to know how the U.S. government can achieve this objective.”
Yu said U.S. tax revenue is not likely to increase in the short term because of low economic growth, inflexible expenditures and the cost of “fighting two wars.”
Referring to the Federal Reserve “as the world’s biggest junk investor,” and to Chairman Ben S. Bernanke as “helicopter Ben,” Yu said the Fed has dropped “tons of money from the sky since the subprime crisis.”
“The balance sheet of the Federal Reserve not only has expanded like mad but is also ridden with ‘rubbish’ assets,” he said.
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Tesla
Posts: 15541
Incept: 2008-04-03
State of Disbelief
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Get back to me when you do a study of the private economy vs the government sector. I think you'll find your answer there.
Oh, and remove the bias of the way they have changed the unemployment calculation over the years.
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"Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes
"Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams
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Trader_kid
Posts: 6820
Incept: 2007-09-27
USA Prime Credit
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Quote:Oh people learn from history: FDR was a demigod, saved the country from a depression and the world from fascism.
It is all in your kid's history books and adult periodicals.
Russians feel the same way about Stalin. those are both good points. kids are taught in school that the depression was ended by FDR's new deal. at a pretty early age, kids are taught that the government can solve problems and that you should look to the government to solve problems. the point about stalin is also true. i remember watching a video about russia after the fall of communism in high school. they would talk to ordinary russian citizens about the old soviet leaders from the "glory days." almost all of them disliked things that stalin did (oh, little things like murdering around 10 million people), but things like his leadership skills and his image as a powerful leader on the world stage...they clearly still loved him for that and thought about those nostalgically without any sort of regret or painful memories. one of the reasons i think putin was so popular among russians was that he attempted to return russia to a player on the world stage and tried to be a powerful executive ruler...it reminded people of the old soviet leaders.
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"(The Fed) is in the business of imposing false values." - Jim Grant
"When the fear of losing money overcomes the fear of being thought stupid, that's when you get capitulation." - Art Cashin
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