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The clue here is where the stimulus really went and why it wasn't felt domestically.
"I don't think high unemployment is a panacea for keeping inflation down."
but it sure helps keep college grads down. Saw a new criminal case yesterday that was a haunting glimpse forward. Upscale shopping parking lot. Twenty something son is mouthing off hard to his mother. She is trying to get him to come into the store with him. He uses a number of choice low letter words and she slaps him once. An independent witness actually calls police. Mother is sitting crying in her car admits to slapping him and confesses that her son can not find a job, has no motivation, and is angry at the world and his parents for how "screwed up everthing is." Cops try to verify this with son who give them more choice low letter words (verifying in itself). Mom is arrested for domestic violence and taken to jail.
I guess the son was pissed enough to press charges?
unfortuntely in my state, and many others, the domestic violence laws require police to make an arrest despite any cooperation or request from the "victim." The son did not cooperate and did not want to press charges, but that is common for this arena
Since when is a MOTHER SLAPPING HER SON an arrestable offense?
What planet did this happen on?
Quiet citizen, the walls have ears. Remember all is well in the USSA. I'm sure she will make a fine addition to the prison work force.
Sure, but it's a bit different when the son is an adult. I don't think parents should be slapping their kids once the kids have passed the adult threshold. There's something a bit creepy about that.
OK, granted, when I made my original comment, I had missed the part about the son being 20-something. Still, I utterly fail to see the "crime" here, unless the mother repeated and violently struck her son.
Shit, for all we know, it was the long-suffering Mrs. Bravo finally losing patience after once again trying to do something nice for her miserable and ungrateful cur of an offspring JohnnyBravo, and if he were MY son, he'd count himself lucky getting off with just a slap!
Not to make light of this, but one can't help but wonder if she did, in fact slap the taste out of his mouth.
i hope she gets bitch slapped by the judge...
i hope mom kicks his sorry butt to the curb.
let's see who he mouths off to then, and who he can have arrested.
just cause they can fu*k with U.
Give it time to simmer. Epic non dischargeable student loans + no jobs + degradation of culture = " fun" times for all!
I honestly can't wait to see what my fellow students are going to do when they graduate. Know several are 6 figures in (one hit 200k) with a crap undergrad degree (Woman's Studies) and their new law degree with no job experience.
complete fucking retards all around. Retards for taking the loans for worthless ends and retards in the system that allows them to get their grubby hands on the loans. Fuck you all, I am opting out and dont ask for a cent in support----ever.
Your comparison of the utterly brainwashed clueless robots coming out of US universities today to the mentally retarded does a grave disservice to the truly retarded.
Ah if only they were just retarded. They are also completely self centered and have unshakable belief in their mental and indeed moral superiority. At least a handicap person will not tell you how smart they are and how they want to "change the world".
This is a huge problem - not just for suburban, middle-class kids.
According to Steve Eisman, who presented at the Ira Sohn conference this year, students at 'for-profit' universities will default on about $275 billion in loans. I guess that's why he calls it the 'subprime of education'.
Check out Eisman's presentation here:
These cops had nothing better to do than arrest a poor mother trying to whip some sense into her son. Can you say police state.....
If I understood DaveyJones correctly, the cops were legally compelled to make an arrest once she had "confessed." Blame is on the state legislature in that case, and everyone who supported passage of such a law without thinking through the conseqences.
I'm not a fan of the government, but hitting people is always wrong.
You have clearly never had any children.
But for the record, I am NOT condoning beating! A quick slap on the shoulder or butt, though, is NOT abuse! I would argue that for many children, NEVER getting their attention thusly, and teaching them a quick on-the-spot disciplinary lesson, constitutes the much greater abuse, despite what many "feel good" airheads may otherwise think.
R E L A T I V E
domestic abuse is rampant. domestic is domestic, friend, wife, child, household. i have been roughed up. told him so and would call the police. who wants the police around. they know it.
The world is like a giant Monopoly game. The US (Bernanke) is the banker in the game. All the countries agree to play with dollars.The game is a rigged game because every time Bernanke runs out of money he is the only one allowed to print more money... all the money created by him, creates inflation for the other players in the game.... do you want to play a Monopoly game with a bank that canprint money anytime it runs out of it???? .... sooner, rather than later players are going to to get tired of play a rigged game... it only takes a couple of them....
but (with the given scenario that you have outlined) what if in each satellite nation you had a local CB running interference and not allowing the local populace to see the real issue?
This is key. Other central banks must agree to inflate in tandem if the dollar and the USG is to survive.
It's a complex coordination problem that may be impossible.
what a tangled web we weave
is there honor amongst thieves?
No, of course not.
How can monetary and fiscal policy be coordinated with the EU, US, China, Russia, and the Gulf oil states?
It's too complicated. Therefore, a grave national "debate" on whether or not a Muslim YMCA ought to be built on the ruins of a bankrupt coat retailer. Next up: a culture war over female masturbation.
Most of the other players in the game (other countries) can't let the value of their own currencies to rise as a consequence of the depreciating dollar, because it will kill their exports, so they end up printing money to keep up with the falling dollar.... is a sad game that doesn't make sense..... this game is going to come to an end.... just think about it... Monopoly is a great game when is played by players that can't print money every time they run out of it ..... Keynes really was nuts!!!
Depreciating dollars? Where?
Exports find homes if they are in demand. Since a sea change has occured in the US consumer sentiment, most people confuse/disguise/blame the demand destruction with currency imbalances. This is not the case this time.
You know there is a point where goods will not be bought at any price.
The 100 year trend is towards depreciation. If you have a very short-term outlook, then yes, on occasion, the dollar can appreciate relative to other instruments.
The DXY is relative to other spot fiat currency prices. All that means is that the dollar has depreciated at a slower rate than the other currencies.
Well said, as usual, Apostate!
I would go further and state that, except for forex daytraders, the Dollar Index is USELESS and MEANINGLESS as a measure of anything. It, like the dollar itself, is just a yardstick using a constantly changing (and shrinking) unit of measurement. To compare the DXY at 82 today vs. at 82 in, say, 1987 is clueless at best and more likely just more disingenuous misinformation, as doing so would be comparing apples to oranges.
For the last time, Ozziandias and everyone else, THE US DOLLAR INDEX IS NOT A MEASURE OF THE ABSOLUTE VALUE OF THE US DOLLAR!
and for the last time, where's the hyperinflation you promised us? I know what the DXY represents. It was just a quick way to make a point. I could have used oil, houses, treasuries, equities, commodities etc to show the increase purchasing power of dollars or ABSOLUTE VALUE but that would just get you pushing gold.
The trend is a result of economic expansion and the deflation is the reverse. You earn your salary on a monthly or bi-weekly basis so what difference does it make over that period of time? It's unlikely you will discover a roll of cash your grandparents left for you 100 years ago and tangible assets adjust accordingly. We are seeing deflation and your dollar, however it's measured, buys more today then it did a few years ago. My bet is that it will keep it's purchasing power for a while regardless of how it tracks on the FX market.
And what a load of bullshit regarding the higher prices stoking inflation. It's the exact opposite. Inflation drives prices (amongst other factors) NOT the other way around. If a meeting of the minds is not met between the seller and consumer (liquidity) then you have no deal. Again this is a demand and not a command driven economy.
You are an egregious liar and you know it if you are daring to claim that "the dollar today buys more than it did a few years ago." Yeah, if one's only purchases are houses and Florida condos! In everything that REALLY matters on a day-to-day basis, prices are up compared to a few years ago.
Why don't you try and convince us that up is down and black is white while you're at it.
Houses, oil, silver, copper, platinum, milk, wheat, corn.....ahhh yawn....palladium, aluminum, money (that's right, the cost of money has dropped), rhodium, cars (incentives), shipping, NG, haircuts, clothes, entertainment.......
So which one of those items do you not purchases indirectly on a day-to-day basis? Others are monopolized such as drugs or government controlled like stamps.
PS I take offense to the egregious liar comment.
If you take offense at what I stated, then prove me wrong.
Please tell us in what year, in what fantasy world, you are making your comparisons against? I took "a few years ago" to suggest, say, 2005 or 2006 ---- so show me how all those items you mentioned (again, with the exception of the bubble assets of houses and real estate) have FALLEN in price in the last four or five years?
Or are you going to be just as disingenuous as I expect you to be, and try to compare certain select commodities, such as rice and silver, against their early-mid 2008 highs?
That's how dollar inflation works. The dollar saturates some pissant country until wages rise and that government becomes too big for its britches.
Then, those dollars head back to the US, triggering a fresh round of extra inflation. This time, however, it's unlikely the cycle will repeat. There's not enough virgin territory, and the US can't exactly go to a post-knowledge economy.
Unless you count "Jersey Shore."
Mmmmm, post-knowledge economy. Sounds...medieval.
We can only hope.
"Bring out yer dead!"
Coming to a suburb near you.
EM countries are still playing economic games going back to their colonial past, specifically selling their products to the USA and EU close for nothing getting IOY promises to be paid later.
This set of mentality has over-lived itself a long time ago. The problem is that the USA is losing its industrial competitive advantages and has less and less to offer in return taking into account its terrible overpriced labor market.
At the present world development stage, EM countries should do more and more trading between each other enjoying their own low labor cost and, in a process, drastically reduce their needs for outside reserve currencies.
This process will lead to collapse of the US$ as a reserve currency and a runaway inflation in the USA.
Andy Xie interviewed by Ms. Meesohauwnee.
ditto, booty bitchez†
This is a demand driven collapse and should not be confused with a command economy as China thinks the US is. Consumers decide on consumption through their mood, feeling and credit availability, all of which are tanking. Prices may influence their decision but the threat of increasing prices only hurts the seller.
No go. Chinese propaganda will not be tolerated.
PS This US vs China economic conflict is as phony and shallow as the NBA. There are no sides, they profit off one another explicitly but under covert adversarial guises. As usual, the US always leaves those nations it beds with feeling raped and China is going to feel like one hell of a whore when this is over.
and here I'd been looking for that danged inflation all over the place
Come back to Bite us? ... we already got chewed up by globalization, the chicoms got rich. Now they act like We are fucking them.
Well the joke is on them to. If your employer only pays you in IOUs which aren't good, you sorta end up working for free. Now the tech and factories they have our real, the financial assets, not so much.
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