Black People : 'There's Nothing Wrong With the Economy!"

Discussion in 'Black People Open Forum' started by Ankhur, Aug 14, 2011.

  1. Ankhur

    Ankhur Well-Known Member MEMBER

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    Yeah the weathy believe that!!!

    One would expect someonelike Bush to say something like that, but not Democrat harvad scholar,
    so why would the president say that yesterday?
     
  2. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    There is much more wrong with the currency than there is even with the economy.
     
  3. Ankhur

    Ankhur Well-Known Member MEMBER

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  4. Ankhur

    Ankhur Well-Known Member MEMBER

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    which is kinda like saying dont blame the tainted dog food for the dog getting sick
     
  5. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    I disagree.
    That is exactly what I am saying.

    My perspective:

    The lifeblood of a modern day economic system is its currency.
    If the currency is a depreciating medium of exchange, that alone will play havoc with the entire system.
    If the blood is tainted, how do you think the rest of the system will fair?

    Our current currency is not a system of just weights and balances.
    It is a fluctuating medium in which the benefits of this arbitrage go to some parties at the expense of all the rest.

    The problem with the economy, especially for those at the lower end of the economic spectrum, is loss of purchasing power. You don't get as much bang for your buck as say 5 years ago.

    Not only that, this loss of purchasing power affects other economic forces such as exports, supply and demand, and more.

    Your loss of purchasing power subsidizes the profligate spending of government and commercial malfeasance of the banks.
     
  6. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    the economy is not ok and it will get obama booted from the POTUS
     
  7. Enki

    Enki The Evolved Amphibian STAFF

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    now that you said this,it does make me wonder. is there a difference? I know things like this can be seen as the same thing. I always run into people that think weight and mass is the same thing. So is it?

    Peace!
     
  8. Ankhur

    Ankhur Well-Known Member MEMBER

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    the dollar does not just rise or fall like a kite tossing in the wind!

    Every 12 year old economy student in JHS knows that, the economy directly effects the value of the dollar, anmd look at how much gold has risen in the past 3 years!
     
  9. Shikamaru

    Shikamaru Well-Known Member MEMBER

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    No. Paper currencies drops like a stone into oblivion typically.

    The economy has some effect on the value of the dollar, yes.
    But, the running of the printing press has a much greater effect on the "value" of the "dollar".

    Value is not the true term. The true term is purchasing power.

    By the by, did you know that a dollar is not a paper note (which you know as a Federal Reserve Note), but a specific weight and grain of silver?

    The history of the dollar as well as the Coinage Act of 1792 will support my previous statement.

    The rise in gold price is the inflation in the number of paper notes in circulation.
    It helps to think of this as a gold coin versus number of paper notes to perceive the real picture.

    The US monetary system was based on gold and silver coin until 1933 with the removal of gold from circulation followed by silver from 1964 -68.

    Paper currencies popped up from time to time through such names as Continentals, Greenbacks, certificates, etc.
     
  10. Monetary

    Monetary going above and beyond PREMIUM MEMBER

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    I believe President Obama was making a very important point in a not so explicit manner. It's the Republicans, Wall Street (...and corporations), and some commerical banks that are sitting/holding on to money. Businesses will not invest in profitable projects which results in hiring people, banks will not loan out money without very stringent requirements, Republicans will not vote on anything allowing the federal government to spend/invest so that money does NOT flow through the economy, thereby, making the economy weak.

    Conclusion: As brotha JamesfrmPhilly has stated many times in these threads, they are using the weak economy to get President Obama out of office. Hence, no second term which is Republicans main goal ever since Mr. Obama became president.

    Peace
     
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