''The party's over for a much deeper reason: faith that the Fed can fix the economy has faded, and participants no longer believe Wall Street's self-serving hype about the recovery and rising markets. Oh sure, people go through the motions of expressing faith in the market, in corporate profits rising forever, in official pronouncements of the Fed's omnipotence, and in whatever snapback rally is in play at the moment, but it's all for show; nobody really believes any of it, they just don't want to be the odd man out by confessing their loss of faith in the false idols.
This loss of faith is not a temporary phenomenon but rather a sea change in the zeitgeist, somewhat akin to the loss of trust in a partner caught cheating: you can never go back to what existed before, even though you go through the motions of a return to normalcy.''
We have a debt based currency that is kept afloat by the faith that we will pay our bills, as more and more American's default on their homes, lose their jobs and cant pay their bills this destroys the faith required from investors..
It is the faith we're losing this time, and until we fundamentaly change not only our spending and charging habbits,but Washington's spending we will NEVER regain the faith to keep this system going..
Looks like this time we will reach bottom..
There is a reason ALL this happened after Washingtons ''debt control bill'' was signed'' - because this bill was a joke, it was such a joke that it crashed the economy..
So ANYONE thinking this is the tea party's fault is wrong, it's all their faults, and even the presidents..They ALL singed this bill into law, and this bill is such a joke it made all the investors lose faith..
Hyperinflation happens when investors lose faith, and because washington signed that ''debt control bill'' and showed investors they had no real plans to curb spending we lost the faith required, not only for the economy, but to be the wolrd super power..
But you don't lose this much faith in one action, truth is we've been heading this way for quite some time..From our endless wars ''spreading democracy'' though out the world and the weight of the cost of these pointless wars spreading freedom at gun point we have lost the faith required to lead the world..
This time things are really different than before and I don't see our government giving up the posistion of world superpower peacefully. I can see the draft being reinstated and world war 3 starting as the tyranical government tries hook or crook to remain the sole superpower and policeman of the world, to the detriment of not only us, but the world..
qe3,4,5,6 won't save us, or stop this..Fact is when we printed all that money we fucked up everyone elses money because world trade is pegged on the dollar..So while we inflate our currency we deflate everyone in the world with us, and these folks are pretty upset
-- Modified on 8/10/2011 12:39:34 PM
TJ, I'm not sure why I'm responding, since you've shown that you can't even comprehend the trash to link to, but I guess I'm the eternal optimist in hoping something will get through your loonytune brain.
You might have noticed that the volatility index is actually DOWN from it's previous high a few days ago. It's now at about half as high as it was during the 2008 financial meltdown. This isn't a seachange, it's just another market correction.
Everyone has a debt based currency. And lucky us, we get to print more currency when the market needs more liquidity. If you want to know why Europe is in rougher shape than we are, it's because Greece and Italy can't print their own Euros.
Just last week everyone was talking about the dollar no longer being the reserve currency of the world, but now they're talking about the dollar's strength will continue for some time to come.
The debt ceiling debate was the excuse S&P used to downgrade our credit, but it seemed they were dead set on doing it anyway, but it had little to do with the market correction we just saw. It had more to do with European markets than anything.
As I've said before, the IASB defines hyperinflation by 26% annual inflation for 3 straight years. The CPI is now at 3.6%. Your talk of hyperinflation is retarded.
Damn it, maybe we need to start a collection plate for TJ.
Deflation is deflation is a decrease in the general price level of goods and services. Since the dollar is the worlds standard in trade, and we inflated our dollar, we deflated the price of everyone elses goods and services (I'm sure they we're trying to hurt china since most of the worlds goods come from there)..But, by printing all this money, and being the world reserve currency we fucked up the price of good being traded..
The debt we owe is a seperate issue..Well maybe it's not since we printed all this money to service this debt, or so they say.
Our debt control bill told investors qe3,4,5 was coming, that's how big of a joke it was
-- Modified on 8/10/2011 1:16:07 PM
tsk, tsk-----then this should serve you perfectly------------
TJ must be on the rag, lol.
That ancient, post menopausal cunt hasn't had a period since Clinton was in office. roflmfao
For those that don't know what Crabs are, it's pubic lice.