Hi Larc: Thank you for a sound and well stated response to You Know. Your point about the 1987 Correction (not a crash) is an excellent illustration of what happens when people (like the Rutherford, LaRouche, Bhagwan, You Know types) embellish history for their own purposes. Also, a side note, the 1987 Correction was also about the auto-eletronic controls that were in place for sell-off. Prior to this people had to place buy-sell orders by phone. But, with the "Auto" sell when the market dropped to a certain predetermined point, it caused a major unintended and unwanted sell off. The SEC, NYSE and other exchanges corrected this with sell / trading limits. The exchanges learned a lesson in High-Tech. This all brings me to another prophet of doom that I will post about. Thanks again. - Amazing
WHY YOU KNOW IS DUPED!
by Amazing 22 Replies latest jw friends
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You Know
But, the economy is doing fine. A routine slowdown that is more of a soft landing.
As I said, you are obviously in denial. My original post that drove you in to hysterics had a link that brought out some basic facts pointing out the gravity of the now ongoing financial collapse that threatens to destroy, not only the economy of nations, but the entire political structure. It is true that the home refinancing boom, generated by lower interest rates, has kept up the appearance of prosperity. That process has pumped approximately $20 billion a week into the system, but indications are that it has run its course. Besides that, flooding the system with liquidity, as is obviously the establishment's policy, through borrowed money only insures the eventual rupture of the bubble will be even more devastating. LaRouche's triple curve predicts that at the point when the monetary curve surpasses the financial curve, as it seeks to roll over more and more debt, that at that point a shock wave is generated that creates a hyperinflationary firestorm. That's exactly what happened in Germany back in 1923 when the Germans printed massive amounts of Riechsmarks to roll over their war reparations debt. In 6 months time the price of things increased 100 million times. In other words, they printed so much money that it became worthless. The same thing is already well under way with the dollar. / You Know
Finacial system doomed--- http://www.larouchepub.com/other/2001/2820komp.html
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Amazing
You Know: NONE of your posts have ever driven me to hysterics other than hysterical laughter at times. DENIAL, you say. No, I recognize that the economy goes up and down as it has and will continue to. Has economic downturn and serious depression affected us on a global scale? YES! The Great Depression in the 1930s is the glaring example. Reading JW literature from that era reveals lots of You Know types running around. Then, WWII right after the Great Depression!, What more could a typical JW ask for? BUT, things changed. WHY? FALSE Prophecy!!!
It is you kiddo, that is in DENIAL BIG TIME!!! And if you read my post on Prophets of Gloom & Doom you will see how I address all that, and conclude that I don't give a rip if it all collaspes or not or whether your Gawd of the Watch Tower is involved or not, as it does not make any difference, because I cannot control any of it anyway.
BTW you comment about debt being used to stimulate the economy it incorrect. It is liquid captial deposited and invested in the USA. It is not debt based. Why do foreign investors place their money here, expecially with lower rates of return? Hedge against inflation and security.
Lowered taxes will not only stimulate the economy, but as history has shown that reduced taxes also increses revenue as the economy rebounds.
Your flip about currency trading last year is still in error. Why? You do not understand margins, and that even though the trade face appears enourmous, the actual cash flows and currency movement is low compared to hard asset, commodity, wholesale, and retail trades.
UNemployment is still low, products are still being manufactured, the planet still revolves around the sun, and I still ate breakfast this morning, and lunch this afternoon. So, the fact that some traders on Wall Street kicked the crap kicked out of them is just business as usual.
But You KNow Whines about HIGH Gasoline Prices as evidence that Amazing is in denial!!! Oil is in a correction you idiot. There is a reason for economic ratios. In 1970, I could buy gas at 20 to 25 cents a gallon, and a house cost $20,000 to $25,000. Now gas has reached an average of $2.00 a gallon, or 10 times its value in 30 years, and guess what? Houses average aboout $200,000 or about 10 times value in 30 years.
The OPEC nations are not idiots. They see inflation for what it is, and starting with Nixon taking us off of the Gold standard in 1970, the Arabs raised prices and at times cut production which has the same effect. If OPEC were really greedy, they would raise prices FASTER than inflation. As it is, they let the USA and Europe coast for a while on low prices to keep our economies strong, and then when they think its time, they zap us with price changes.
SO WHAT! But Oh No, You KNow says the sky is falling, the sky is falling, as he runs in hysteria to report Doom and Gloom to ex-JWs because his own silly-ass religion will not listen to his wild-eyed predictions ... why? Because as stupid and idiotic as the WTS is, EVEN THEY no better than to listen to a Disciple of LaRouche!
Amazing