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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (19479)	10/31/2003 9:37:28 AM
From: sea_urchin	Read Replies (2) \| Respond to of 81900

Phil > The term Gross Domestic Product implies that something is actually produced, but as you know nothing at all needs to be produced It's amazing how they have turned figures which were intended to mean something into pure garbage. The economy is actually contracting, less is being produced, more are out of work, jobs are being lost to overseas every day, interest on borrowed money is at an unprecedented high, national prestige is at a low, Eyerak is like a noose around the neck --- and they have the rank audacity to claim that "growth" is at an unprecedented high. (In fact, the reason corporate profits went up is because they fired the workers and didn't replace inventory.) They must really think that people are morons to believe such stuff (which we know they are and do, especially the economists). What is the most amazing is that they claim government expenditure didn't rise (so what happened to the $500 bn?) and that military expenditure over Eyerak was actually the big boost to the economy. To use your analogy, it's like a drug addict claiming that his income went up because his expenditure on drugs increased. > they are now claiming the US has entered into a kind of super productivity environment, which will ultimately bring back jobs because no other nation can achieve this miracle Well, if you think about it, it's true. The more they print, the more they borrow, the more they spend, and the less they produce, the more the economy grows. Clearly, they have invented a perpetual motion machine. (BTW, motion is a polite way of talking about feces) > figures don't lie, but liars figure And W's administration are proven masters at that. > New home construction and auto industry are the two main big ticket items which continue to benefit from the low interest rates. Think of the 3000+ new homes and all the new cars needed in California after the fire. The US economy is sure to grow by at least 10% next year. In fact, the bigger the fire and the more homes and cars which are lost, the more the economy grows. > Some people have likened this constant ongoing money injection to a patient on a heroine I.V. drip. What happens when you take away the heroine? Just like what happened to W when they took away his booze. You find your kicks elsewhere. In his case, by killing "evil" people. Only in America.

To: philv who wrote (19479)	10/31/2003 8:12:13 PM
From: sea_urchin	Read Replies (2) \| Respond to of 81900

Phil > I think I will keep my Basket of Unhedged Goldshares for a while longer. Here's someone who would definitely agree with that sentiment --- Uncle Bill Murphy, founder of this thread, GATA and le Metropole Cafe. mips1.net In fact, he's now more optimistic than ever. >>>For the past couple of years I have mentioned $800 to $1,000 per ounce as a reasonable objective. But now I believe the price will have to go much higher to ration future gold supply. There is going to be a gold rush such as the world has never seen before. Frank Veneroso is the smartest supply/demand numbers man I have ever known. He felt the fair commodity price of gold in 1997 was $600 an ounce, prior to the Gold Cartel's forcing the gold price down from the $400 area. After all that has transpired these past years, it is easy to envision gold doubling that number.<<< As for me, I'm a contrarian --- as I was when I bought my gold shares and when I sold them. So, I guess I'll just remain poor.

To: philv who wrote (19479)	11/2/2003 3:17:05 PM
From: sea_urchin	Respond to of 81900

Phil > I guess some of that mountain of money and debt is bound to stimulate not only foreign production, but some might even circulate at home. Apparently only to the wealthiest 0.01% of the people. inequality.org >>>There has always been a wealthy elite in this country, and there has always been a gap between the rich and the poor. But the disparities in wealth and income that currently exist in this country have not been seen in over a hundred years. Today, the richest one percent own more wealth than the bottom ninety-five percent, and the CEOs of large corporations earn more than 500 times what their average employees make. The nation's 13,000 wealthiest families, 1/100th of one percent of the population, receive almost as much income as the poorest 20 million families in America. While the rich get richer and receive huge tax breaks from the White House, the middle class is struggling to keep its head above water. The unemployment rate rose to a nine-year high of 6.4 percent in June, 2003. There are now 9.4 million unemployed, up more than 3 million since just before Bush became President. Since March 2001, we have lost over 2.7 million jobs in the private sector, including two million decent-paying manufacturing jobs - ten percent of our manufacturing sector. Frighteningly, the hemorrhaging of decent paying jobs is now moving into the white-collar sector. Forrester Research Inc. predicts that at least 3.3 million information technology jobs will be lost to low-wage countries by 2015 with the expansion of digitization, the internet and high-speed data networks. <<<