How to manipulate an election. (40)
Oops. Left out an important word.
The fed not only dumped $85 billion in new monopoly money into the economy, they intend to continue dumping $45 billion each month indefinitely.
The fed not only dumped $85 billion in new monopoly money into the economy, they intend to continue dumping $45 billion each month indefinitely.
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The U.S. Bureau of Economic Analysis (BEA) has just announced that GDP grew at a rate of 2 percent during the last three months. Keynesians like Paul Krugman should be happy, and the so-called “market monetarists” like Scott Sumner should be happy. When we mistake GDP for the economy, a 2 percent quarterly growth rate looks like something to celebrate, at least compared to the previous quarter’s 1.3 percent increase. Alas, as Macbeth found out, not everything is as it seems.
This quarterly release demonstrates the danger of looking to aggregate macroeconomic statistics as a guide for how an economy performs. To better understand how the economy changed during the past quarter, we must (as is always the case) drill deeper into the numbers. It turns out that the deeper we go, the less rosy things appear.
The main reason GDP increased at a rate larger than forecast was a large increase in government spending. As hard to believe as it may be, government spending’s contribution to real GDP had actually decreased since the second quarter of 2010. Anyone who understands the economic consequences of government spending knows that this was a good trend if we want to promote long-term economic expansion.
Alas, this trend underwent a dramatic reversal over the past three months. Real federal government expenditures increased 9.6 percent. National defense spending alone increased 13 percent over the third quarter. These increases at the national level contributed to an overall increase in all government spending (federal, state, and local) of 3.7 percent. Government spending is what drove the increase in real GDP. Unfortunately, we cannot rely on government spending to generate sustainable economic expansion. The economy is not a machine that is ailing from a dead battery. Yet modern macroeconomists and policymakers often talk and act like it is. They speak of “jump-starting” the economy with a little government spending or monetary inflation or both. Such actions, however, do not generate real wealth. They surely do cause a redistribution of wealth, benefiting some while harming others, but they do not provide any general social benefit. Neither government spending nor monetary inflation results in more production of more goods that are able to satisfy the subjective ends of people in our social economy.
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RayfromUSA: How to manipulate an election.
Does it work for either parties when seeking re-election?
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Depends how quantitive easing is used as to how it will affect inflation.
Use it to maintain the current import-reliant consumer frenzy and it will without question lead to inflation but, if the money were to be used to rebalance the economy then inflation would be mitigated and you would be in a far stronger position.
It's a lie and a simplification to state that paper money is backed by nothing as it is backed by the society itself: whether this is too much responsiblity to place on society - particularly a decadent & degenerate society - is the real issue.
Use it to maintain the current import-reliant consumer frenzy and it will without question lead to inflation but, if the money were to be used to rebalance the economy then inflation would be mitigated and you would be in a far stronger position.
It's a lie and a simplification to state that paper money is backed by nothing as it is backed by the society itself: whether this is too much responsiblity to place on society - particularly a decadent & degenerate society - is the real issue.
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Conrad73: http://www.visionandvalues.org/2012/11/two-percent-economic-growth-real-or-apparent/
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the democrats will do anything like cheat and lie to keep obama in
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john12196341: the democrats will do anything like cheat and lie to keep obama in
Republicans are no different.
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lifeisadream: Does it work for either parties when seeking re-election?
I don't think so, Life. One party has the full power of the presidency and all the perks that go with it, whereas the other only has it's election team.
Furthermore, Obama never closed his campaign headquarters in Ohio, for example, they they have been registering people and campaigning for four years, whereas Romney only had the nomination for a couple of months...
And there is LOT'S of cheating going on...
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WhatUwish4: I don't think so, Life. One party has the full power of the presidency and all the perks that go with it, whereas the other only has it's election team.
Furthermore, Obama never closed his campaign headquarters in Ohio, for example, they they have been registering people and campaigning for four years, whereas Romney only had the nomination for a couple of months...
And there is LOT'S of cheating going on...
Furthermore, Obama never closed his campaign headquarters in Ohio, for example, they they have been registering people and campaigning for four years, whereas Romney only had the nomination for a couple of months...
And there is LOT'S of cheating going on...
What the democrats are doing now -cheating including- would the same been done by republicans before?
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lifeisadream: What the democrats are doing now -cheating including- would the same been done by republicans before?
Geeze these threads are moving fast today! I almost didn't see your post.
To be sure there were lots of people claiming that with the Bush election and the saga of the hanging chads, but the issue was run through court system and found lacking. Honestly, I don't think any of us will ever know that for sure...
But to the best of my knowledge, Reps have never stooped to voter intimidation or kicking court-appointed poll watchers out of polling stations.
This is more in keeping with the "Chicago-style" politics.
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the easiest way..is through the j lobbby
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There is at least one US industry for which business is booming.
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As far as I'm concerned there is no difference between the parties.
The candidates are all puppets and the same puppeteers pull the strings of all the candidates except Ron Paul. It's no longer about leadership.
It's about which candidate can grovel the most and betray the people most believably.
The candidates are all puppets and the same puppeteers pull the strings of all the candidates except Ron Paul. It's no longer about leadership.
It's about which candidate can grovel the most and betray the people most believably.
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Rumple4skin: Depends how quantitive easing is used as to how it will affect inflation.
Use it to maintain the current import-reliant consumer frenzy and it will without question lead to inflation but, if the money were to be used to rebalance the economy then inflation would be mitigated and you would be in a far stronger position.
It's a lie and a simplification to state that paper money is backed by nothing as it is backed by the society itself: whether this is too much responsiblity to place on society - particularly a decadent & degenerate society - is the real issue.
Use it to maintain the current import-reliant consumer frenzy and it will without question lead to inflation but, if the money were to be used to rebalance the economy then inflation would be mitigated and you would be in a far stronger position.
It's a lie and a simplification to state that paper money is backed by nothing as it is backed by the society itself: whether this is too much responsiblity to place on society - particularly a decadent & degenerate society - is the real issue.
Think about what you're saying.
Remember that in QE we're not talking about any real wealth being created. It's just paper money. And it's a loan that has to be paid back to the banks that make up the Fed with interest. Every QE dollar means more debt.
So how in the world could more debt be used to "rebalance the economy".
It's not like there is surplus money that needs to be balanced out with debt. It's the other way around.
It's analagous to trying to pay off an overdrawn checking account by writing a check. It just can't possibly work.
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RayfromUSA: For an unpopular president to get re-elected even after a disastrous presidency all the Fed has to do is inject a lot more paper money into the economy during the last months of his term.
It doesn't create any new wealth, it's only paper after all, but it does steal wealth from everybody's savings by devaluating all existing currency.
And the new paper can then be lent out to create jobs etc (even though it's all borrowed money that will have to be paid back with interest).
The Fed creates money out of thin air like that all the time.
But when they do it on such a massive scale that it generates visible affects immediately they call it Quantitative Easing.
And that's how they were able to create the pretense of a slight economic recovery in the last couple of months of Obama's term.
They just printed up a lot of new monopoly money and injected it the to the economic corpse.
It can't possibly bring it back to life. In fact it speeds up its death, but it keeps the cadaver twitching long enough to sway the election.
The fed not only dumped $85 billion in new monopoly money into the economy, they intend to continue dumping $45 each month indefinitely.
We are seeing the beginning of hyper-inflation.
We'll all be millionaires soon.
Better buy a wheelbarrow to carry your money in now,
before the price goes up.
It doesn't create any new wealth, it's only paper after all, but it does steal wealth from everybody's savings by devaluating all existing currency.
And the new paper can then be lent out to create jobs etc (even though it's all borrowed money that will have to be paid back with interest).
The Fed creates money out of thin air like that all the time.
But when they do it on such a massive scale that it generates visible affects immediately they call it Quantitative Easing.
And that's how they were able to create the pretense of a slight economic recovery in the last couple of months of Obama's term.
They just printed up a lot of new monopoly money and injected it the to the economic corpse.
It can't possibly bring it back to life. In fact it speeds up its death, but it keeps the cadaver twitching long enough to sway the election.
The fed not only dumped $85 billion in new monopoly money into the economy, they intend to continue dumping $45 each month indefinitely.
We are seeing the beginning of hyper-inflation.
We'll all be millionaires soon.
Better buy a wheelbarrow to carry your money in now,
before the price goes up.
Excuse me, did you just call the installation of a president, an 'election', Ray?
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Conrad73: http://www.visionandvalues.org/2012/11/two-percent-economic-growth-real-or-apparent/
The U.S. Bureau of Economic Analysis (BEA) has just announced that GDP grew at a rate of 2 percent during the last three months. Keynesians like Paul Krugman should be happy, and the so-called “market monetarists” like Scott Sumner should be happy. When we mistake GDP for the economy, a 2 percent quarterly growth rate looks like something to celebrate, at least compared to the previous quarter’s 1.3 percent increase. Alas, as Macbeth found out, not everything is as it seems.
This quarterly release demonstrates the danger of looking to aggregate macroeconomic statistics as a guide for how an economy performs. To better understand how the economy changed during the past quarter, we must (as is always the case) drill deeper into the numbers. It turns out that the deeper we go, the less rosy things appear.
The main reason GDP increased at a rate larger than forecast was a large increase in government spending. As hard to believe as it may be, government spending’s contribution to real GDP had actually decreased since the second quarter of 2010. Anyone who understands the economic consequences of government spending knows that this was a good trend if we want to promote long-term economic expansion.
Alas, this trend underwent a dramatic reversal over the past three months. Real federal government expenditures increased 9.6 percent. National defense spending alone increased 13 percent over the third quarter. These increases at the national level contributed to an overall increase in all government spending (federal, state, and local) of 3.7 percent. Government spending is what drove the increase in real GDP. Unfortunately, we cannot rely on government spending to generate sustainable economic expansion. The economy is not a machine that is ailing from a dead battery. Yet modern macroeconomists and policymakers often talk and act like it is. They speak of “jump-starting” the economy with a little government spending or monetary inflation or both. Such actions, however, do not generate real wealth. They surely do cause a redistribution of wealth, benefiting some while harming others, but they do not provide any general social benefit. Neither government spending nor monetary inflation results in more production of more goods that are able to satisfy the subjective ends of people in our social economy.
The U.S. Bureau of Economic Analysis (BEA) has just announced that GDP grew at a rate of 2 percent during the last three months. Keynesians like Paul Krugman should be happy, and the so-called “market monetarists” like Scott Sumner should be happy. When we mistake GDP for the economy, a 2 percent quarterly growth rate looks like something to celebrate, at least compared to the previous quarter’s 1.3 percent increase. Alas, as Macbeth found out, not everything is as it seems.
This quarterly release demonstrates the danger of looking to aggregate macroeconomic statistics as a guide for how an economy performs. To better understand how the economy changed during the past quarter, we must (as is always the case) drill deeper into the numbers. It turns out that the deeper we go, the less rosy things appear.
The main reason GDP increased at a rate larger than forecast was a large increase in government spending. As hard to believe as it may be, government spending’s contribution to real GDP had actually decreased since the second quarter of 2010. Anyone who understands the economic consequences of government spending knows that this was a good trend if we want to promote long-term economic expansion.
Alas, this trend underwent a dramatic reversal over the past three months. Real federal government expenditures increased 9.6 percent. National defense spending alone increased 13 percent over the third quarter. These increases at the national level contributed to an overall increase in all government spending (federal, state, and local) of 3.7 percent. Government spending is what drove the increase in real GDP. Unfortunately, we cannot rely on government spending to generate sustainable economic expansion. The economy is not a machine that is ailing from a dead battery. Yet modern macroeconomists and policymakers often talk and act like it is. They speak of “jump-starting” the economy with a little government spending or monetary inflation or both. Such actions, however, do not generate real wealth. They surely do cause a redistribution of wealth, benefiting some while harming others, but they do not provide any general social benefit. Neither government spending nor monetary inflation results in more production of more goods that are able to satisfy the subjective ends of people in our social economy.
i wonder if your source can tell a supply curve from a demand curve?
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For an unpopular president to get re-elected even after a disastrous presidency all the Fed has to do is inject a lot more paper money into the economy during the last months of his term.
8% unemployment to 7.8% ? the nation was so excited from it there was mass celebrations in the street!
8% unemployment to 7.8% ? the nation was so excited from it there was mass celebrations in the street!
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This is what some of the great men of US history have had to say about the subject.
"When the people find they can vote themselves money, that will herald the end of the republic." —Benjamin Franklin
“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” —Thomas Jefferson
“This Act (the Federal Reserve Act, Dec. 23rd 1913) establishes the most gigantic trust on earth. When the President (Woodrow Wilson) signs the Bill, the invisible government of the Monetary Power will be legalised... The worst legislative crime of the ages is perpetrated by this banking and currency Bill.” —Charles Lindbergh Sr.
"The financial system has been turned over to the Federal Reserve Board. That Board asministers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money" —Charles A. Lindbergh Sr., 1923
“It’s taken almost two centuries for bankers to pull the wool over Americans’ eyes, but today you and I are working for intrinsically worthless paper that can be created by bureaucrats — created without sweat, without creative ability, without work, without anything but a decision by the Federal Reserve. This is the disease at the base of today’s monetary system. And like a cancer, it will spread until the system ultimately falls apart. This is the tragedy of the great lie. The great lie is that fiat paper represents a store of value, money of lasting wealth.”
—Richard Russell
"When the people find they can vote themselves money, that will herald the end of the republic." —Benjamin Franklin
“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” —Thomas Jefferson
“This Act (the Federal Reserve Act, Dec. 23rd 1913) establishes the most gigantic trust on earth. When the President (Woodrow Wilson) signs the Bill, the invisible government of the Monetary Power will be legalised... The worst legislative crime of the ages is perpetrated by this banking and currency Bill.” —Charles Lindbergh Sr.
"The financial system has been turned over to the Federal Reserve Board. That Board asministers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money" —Charles A. Lindbergh Sr., 1923
“It’s taken almost two centuries for bankers to pull the wool over Americans’ eyes, but today you and I are working for intrinsically worthless paper that can be created by bureaucrats — created without sweat, without creative ability, without work, without anything but a decision by the Federal Reserve. This is the disease at the base of today’s monetary system. And like a cancer, it will spread until the system ultimately falls apart. This is the tragedy of the great lie. The great lie is that fiat paper represents a store of value, money of lasting wealth.”
—Richard Russell
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raphael111: For an unpopular president to get re-elected even after a disastrous presidency all the Fed has to do is inject a lot more paper money into the economy during the last months of his term.
8% unemployment to 7.8% ? the nation was so excited from it there was mass celebrations in the street!
8% unemployment to 7.8% ? the nation was so excited from it there was mass celebrations in the street!
Exactly. And the worse you make the economy beforehand the more excited they'll be when they think things are getting better.
But now watch what happens when hyper-inflation sets in as they inject nearly 50 billion new monopoly dollars into the economy per month.
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It doesn't create any new wealth, it's only paper after all, but it does steal wealth from everybody's savings by devaluating all existing currency.
And the new paper can then be lent out to create jobs etc (even though it's all borrowed money that will have to be paid back with interest).
The Fed creates money out of thin air like that all the time.
But when they do it on such a massive scale that it generates visible affects immediately they call it Quantitative Easing.
And that's how they were able to create the pretense of a slight economic recovery in the last couple of months of Obama's term.
They just printed up a lot of new monopoly money and injected it the to the economic corpse.
It can't possibly bring it back to life. In fact it speeds up its death, but it keeps the cadaver twitching long enough to sway the election.
The fed not only dumped $85 billion in new monopoly money into the economy, they intend to continue dumping $45 each month indefinitely.
We are seeing the beginning of hyper-inflation.
We'll all be millionaires soon.
Better buy a wheelbarrow to carry your money in now,
before the price goes up.