$450bn Spending Spree and the lucky 5%

I really just don’t get it, has Obama finally lost it and gone to live in cloud cuckoo land, if in debt go and spend, you can throw some weird financial theories at me about good debt and bad debt, spending more will stimulate the economy, you have to speculate to accumulate, you have to invest in infrastructure, it’s total rubbish in my view.

Back to basics, we need to get back to basics here, spending needs to be cut, spending more in the current economic culture will just waste more money and create more debt, simple as, you can never underestimate the power of local and central governments to waste money, and it will just increase corruption. It happened in Ireland during the ‘Boom’ years, millions and millions was pumped in from the EU and it was just wasted, if you speak to the people at ground level they will say they witnessed corruption, legal corruption mind you but still corruption, jobs for the boys and all that. The same will happen to the $450bn, the construction industry will be smiling with glee today at the prospect of getting infrastructure contracts, and with that much money in the pot they won’t need to be very competitive, part of the plan is to build new homes that people can’t afford, isn’t this the original cause of the problem?

It’s the same in the UK except spending is cut noticeably, but the underlying cause of the problem which is gross inefficiencies is not being tackled, they think they are tackling it, but you can’t beat efficiency gains into people, it’s a case of culture change, and until we change the culture of me me me, it’ll just get worse.

I think old JFK put it very well - ‘It’s not what your country can do for you, it’s what you can do for your country’ and it’s true of others’, if you are partaking in the forum you are at least likely to have a roof over your head, access to health care, money in your pocket, enough food, warmth, access to a car, have the odd holiday, and that makes you one of the lucky 5% of the world population.

Everyone wants more all the time, more forex profit, mega bucks, the mansion, the car the holidays, etc etc, if Forex allows you not to have to go to work and join all those greedy arseholes bosses that trample over anyone they care to choose to, isn’t that enough? The paradox though is, that once you settle for that and do that, the chances are you will end up with what you want, and it could well be less than what you think it is now!

There is nothing to fear but greed!

Oh, please don’t bash me for taking a moral high ground, it’s just food for thought.

Good morning.

Well I’ll be honest with you: I don’t know how we got here in the FIRST place. I watched an interesting documentary the other day which ‘featured’ Alan Greenspan and from what I gather (and according to him): ‘the seeds were sown’ some MANY years ago (going back to the end of World War II) for us to end up where we did in 2008 / 2009. And what we’re seeing happen TODAY is a direct ‘spin off’ from that.

I don’t have the brain power or experience to understand ‘macro economics’ or whatever it’s called. But there are two things that will forever be ‘ingrained in my brain’:

The first being the ratings agencies which so far as I can tell somehow managed to get into a position where they just carry too must weight. THEY are the ones that were responsible for sub-prime and the ensuing credit-crunch. And just this week: there was an insert on Bloomberg TV where those same ratings agencies are rating certain mortgages as AAA+ again and those same mortgages are no different from the mortgages back in 2008 / 2009. What they’re basically saying is that an individual that has NO assets and too much credit already has a better credit rating than the United States of America. I don’t quite get that. And in the documentary that I referred to: Greenspan’s last words (which was the end of the documentary) went something along the lines of ‘it will happen again because we’re human beings’ (something like that).

The second being the infamous Jim Rogers and the ‘too big to fail’ issue back then. In hindsight: he was right. While there would have been much ‘pain and anguish’ at the time by now we’d be on the way to a genuine recovery and a ‘normal’ free market. We’re not ‘trading’ nowadays. We’re playing a ‘computer games’ and our opponents are the Governments and the Central Banks.

Anyway and like I said: I don’t know enough about all of this stuff to really be commenting. But I thought I’d ‘chime in’ anyway.

By the way: don’t ‘knock’ Obama for spending MORE when in debt!!! That’s how I used to ‘operate’ when I was able to get credit!!! LOL!!! And the absolute irony: the more into debt I got the more credit was offered me until it all ‘blew up in my face’ (which, so far as I can tell, is where this is all headed anyway)!!! LOL!!!

Regards,

Dale.

Aye, been there done that.

The Money Masters ~ Full Movie - YouTube

Interesting video about money

“There exists in this country a plot to enslave every man, woman, and
child. Before I leave this high and noble office I intend to expose this
plot”

  • John.F.Kennedy

JFK was too busy screwing every woman he could lay his hands on to unearth some massive conspiracy.

Lol.

One thing is for sure: All that debt will deflate over the long run to zero and I won’t be the one who buys intentionally into that debt bubble.

Lately I was invited to a party. Then all of the about 30 people were asked what connection they had to the party maker. It came out, nobody was involved to produce any good in their career. Most were social workers, one biological scientist (who when revealed his career said that his job is called so, albeit he is in truth not a scientist, but just works in a office to check the water quality) and some others where the guy closest to “real” work was a taxi driver (at least he uses his legs and arms to drive physically with the cab from a to b). And that taxi driver elects all the liberals who produce those non production jobs, lol.

Well, it’s obvious that the party maker had an affinity to social workers, but if I look at the economy and around me I can see a similar picture. Something went plainly wrong with the education system, if most people try to join a career where nothing is produced. I’m not going to say that we do not need engineers and social workers, but what is there it’s definitely way too many. Same goes with politicians and all sort of unproductive rule or law makers. If everybody want’s to steer the boat, where is the boat going if nobody is responsible for the force to move the boat?

You a social worker too Bucks?

Its the same over here… everyone is an engineer, a doctor, a lawyer and everyone is an arm chair politician or a closet politician… everyone else is an accountant or a lecturer or banker or at best insurance salesmen.

All the real production jobs are done by foreign contract workers.

Thats the stupid governments way to keep production costs down.

End of the year, year in year out they wonder why there is always a net outflow of cash from the country.

Well, in my free time as hobby I am lol. No, I am a bank with a connected software business. Or maybe a software business with a connected bank, lol. Very small one, though. Just planned to grow that into a big one. :wink:

I bet you say that to all the girls!!

No, not all. That would be too many to serve. Just some, lol. :smiley:

Reminds me at a joke: I’m thinking of leaving my husband, complained the broker’s wife. “All he ever does is stand at the end of the bed and tell me how good things are going to be.”

Yeah, and the cheque’s in the post, and I wont come in your…