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Old 05-11-2012, 12:29 AM   #21
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I was referring to the weimar government period before hitler. I should have referance my thoughts better. All that I mention lost power because of monetary policies of printing fiat currentcy.

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Old 05-11-2012, 12:46 AM   #22
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RIP Detroit

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Old 05-11-2012, 12:48 AM   #23
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I was referring to the weimar government period before hitler. I should have referance my thoughts better. All that I mention lost power because of monetary policies of printing fiat currentcy.
The Latin American banana republics are the ones famous for teaching all about currency inflation.

However the USA is slightly in a differen boat because (1) it won WW2 and has maintain its war footing ever since, (2) the US Dollar became the gold standard of Europe and Asia in the aftermath of WW2, (3) absent a competing world wide currency besides the US Dollar has allowed the US Dollar to slip into the role of a de facto world currency instead, (4) modern speculation internationally as well as a common greed for paper printed dollars around the world has propped up the US Dollar long after its actual intrinsic value has died off.

So you cannot logically or economically compare the US Dollar and its phoenix longevity to any of the other inferior nation-states.

We are still today living on the victories of our forefathers in WW2 even now, as most WW2 veterans enter nursing or hospice homes, those few who are even still alive.
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Old 05-11-2012, 12:52 AM   #24
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You can see it start to happen in small places like Detroit already, sure. But the fall of Washington will be titanic when it finally happens, at the rate we are going now.
Detroit is only a symptom...

I don't think it will be a titanic, if or when it happens, it will be a massive tsunami, class 5 hurricane, and level 9 earthquake all at once.

Side story, way back in 2003 I had a discussion with a wall street Merill Lynch VP friend. I was discussing the current economic conditions, and he said it was only because I was in the union arm pit of the world and automotive didn't reflect the real world. I insisted we were the canary in the mine, but he knew better.

I still contend, we are the canary in the mine, with municipal govts not accepting the constraints of today's economic environment. they are running out of their taxpayers money.
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Old 05-11-2012, 01:01 AM   #25
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Detroit is only a symptom...

I don't think it will be a titanic, if or when it happens, it will be a massive tsunami, class 5 hurricane, and level 9 earthquake all at once.

Side story, way back in 2003 I had a discussion with a wall street Merill Lynch VP friend. I was discussing the current economic conditions, and he said it was only because I was in the union arm pit of the world and automotive didn't reflect the real world. I insisted we were the canary in the mine, but he knew better.

I still contend, we are the canary in the mine, with municipal govts not accepting the constraints of today's economic environment. they are running out of their taxpayers money.
Exactly right.

Your Wall Street friend probably though speculation and greed could sustain the world forever.

Not forever though. All bubbles must end someday. As autumn leaves must fall.
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Old 05-11-2012, 01:37 AM   #26
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True, but I thought of Germany in the process.

Germany had a leader who started out as a genius and ended up as an insane tyrant. He made two major mistakes, which together did him in. Either one was bad enough. But both together were fatal and unavoidable.

He was at his zenith right after the conquest of France. At that point the Germans loved him as a god. If he were not addicted to more power already, he should have stopped there. Then Germany would have ruled Europe for at least another 50 years, like the Soviets later did, if not forever.

But his first mistake was attacking Russia.

Then even worse, his second mistake was signing a treaty with Ja pan. The Ja panses treaty killed him. Because when the Ja panese attacked Pearl Harbor, which was their own first mistake, as far as their short lived empire goes, then the US Congress declared war on Ja pan, forcing Germany by its treaty to declare war on the USA. That was the doom and end of the Third German Empire. And also the end of the first Ja panese Empire as well.
You're just a Barbarossa HATER!

Note: remember about 1/3rd of the employees at Merill Lynch Pierce Fenner & Smith are VP's of one sort or another -- don't be impressed by that. Think of your local bank: everyone who isn't actually a teller is a VP.
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Old 05-11-2012, 01:54 AM   #27
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Exactly right.

Your Wall Street friend probably though speculation and greed could sustain the world forever.

Not forever though. All bubbles must end someday. As autumn leaves must fall.
No, he actually believes that money creation is value added.

HL, I understand that, but he is at the upper end, and now owns a financial advisory service. He is a master at creating money for clients and himself... but doesn't understand that all he's doing is shifting the pile from person to another.
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Old 05-11-2012, 02:05 AM   #28
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You're just a Barbarossa HATER!

....
Its all ancient military history to me.

I used to command troops. First job out of college.

Before they will commission you to do that, they teach you classes in college and officers school.

Among those classes are military history. Also strategy and tactics, large and small units. Rifle and pistol marksmanship, artillery air and naval gunfire and missiles in support.

I can tell you military history from ancient Assyria to Viet Nam.

Don't know squat about desert or urban combat though.

Finally went back to grad school and got a real job in the civilian world.
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Old 05-11-2012, 02:08 AM   #29
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No, he actually believes that money creation is value added.

HL, I understand that, but he is at the upper end, and now owns a financial advisory service. He is a master at creating money for clients and himself... but doesn't understand that all he's doing is shifting the pile from person to another.
Money creation is wealth distribution from the stupid to the less stupid.
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Old 05-11-2012, 02:20 AM   #30
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Shoobee: Oh goody another to many tax cuts man. All you guys claiming that tax cuts are bad are hypocrites. Not one of you has every not declared everything you could so you wouldn't have to pay so much tax. Not one of you have ever said I think taxes should be raised by 10, 20 or 30 percent and just donated said amount to the government. They will let you pay more if you want.

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