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| Subject: Re: Perhaps the Euro/USD partialy explains | |
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Author: jw |
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Date Posted: 19:58:51 03/09/08 Sun In reply to: Stephen 's message, "Perhaps the Euro/USD partialy explains" on 08:23:48 03/09/08 Sun One of the scariest bits of news is that food supplies are extremely low now, as your article says, wheat supplies are the lowest level in 60 years, and there were several billion fewer mouths to feed then, also china was not converting from a largely plant based diet to mc donnalds cheese burgers. There are also other reasons for the run up in all commodities, the collapse of the dollar has an exagerated effect on commodities prices, along with the lack of decent investment opportunities. Because stock markets are failing, real estate is failing, and the US government is keeping interest rates artificially low, well below the rate of inflation, "money" is driving up the cost of commodities. Rich people and institutions know that people must consume commodities, so just like they threw their money at stocks and real estate and created bubbles, today they throw their money at commodities and create another bubble, they become rich and we all suffer. When there was a stock market bubble in the 90's, it generally did not hurt the average person. The real estate bubble hurt many people who needed to buy homes, they were forced to buy homes at artificially high prices because instead of america building a real economy, greenspan and bush perpetuated a real estate bubble to keep the economy growing for a few more years. now that the real estate bubble has popped, the commodities bubble is hurting everyone (except those who trade it), inflation is surging (except for workers wages, of course), and our economy is collapsing. Notice that every time the fed indicates it will lower interest rates or does, commodities prices surge higher, and have reached staggering hieghts. The fed is not solving the real estate problem because so many americans do not have the financial means anymore to buy homes even with the artificially low interest rates the fed offers, but the fed hurts everyone with the extraordinary high inflation, they are causing our economy to collapse. There are some thing government can do to ease the current crisis. First, raise the interest rates back to where they were last spring, and commodities prices will correct rapidly, it will save us alot of money. Second, postpone the ethonal fuel program except for use as a clean air additive, to replace mtbe. Third, the government should help homeowners with sub-prime mortgages who have a generally good record of payments get regular mortgages, which will keep their rates low even with rising interest rates. If the banks do not want to give these people prime loans, the government should give it to them, they have proven there ability to make the payments, there is no reason they should be locked into very high interest rates anymore, and it could save our economy. I would also add to this that the government should rapidly accelerate and increase various energy efficiency laws that were recently passed, which would guarentee significant reduction in our consumption of imported oil in the comming decade. Here in new york city, we used to be able to watch 100 baseball games a year on free television for each team, mets and yankees. Over the years, the cable companies bought the rights to the games, and now there are almost no baseball games broadcast on free television. Why do we now have to pay for baseball games we used to get for free? The cable companies knew that they could buy the rights to the games and charge us money, and the sports "fanatics" would pay for what they used to get for free. The question is, why do people willingly pay for something that they used to get for free? Because they have no back bone, they are not willing to fight back, that's why there are called sports "fanatics", or fans, because they will sacrifice everything for their team. The same consumer fanaticism of the baseball fan exists in all areas of the economy. Americans believe in predetory capitalism, until they see their world collapsing, as it is now. We spend increasing amounts of money to maintain our lifestyle, we refuse to change our ways, and we refuse to use the facilities of government to remedy the failures of our predetory capitalist system. The economic collapse is going to be very interesting in this election year. One big difference between 29' and now is that 29 was after an election, this time we can change the government as the crash gets underway. Keep an eye on the storage levels of grains, there is a very high potential for spring flooding in the mid west this year, there are some similarities to the way the 1993 event began, if we have major crop failures in the midwest now we will be in for a very rough time. For excellent commentary on the current situation, listen to the tom hartman show on air america, this guy really understands what is going on, and what affects us, he exposes the lies of the economic cheerleaders. >Why the price of wheat has doubled in the last month? > > >href="http://www.csmonitor.com/2008/0227/p01s05-usec.ht >ml">http://www.csmonitor.com/2008/0227/p01s05-usec.html > > >Of course with the increased oil cost going through >the cealing, corporate takeover of agriculture, and >the price of wheat doubling, people will be going >hungry in America. > >The NY Time also said that the county has lost >somthing like 4.5 million jobs since Bush took office? >Does that seem right? That's over 2% of te labor >force! > >>The powers that be are trying to scapegoat the >>sub-prime crises, but oil and general inflation are a >>much bigger problem, most of us do not have sub prime >>mortgages. Every time the fed lowers interest rates, >>the price of oil and other commodities surges, they >>are fueling inflation like crazy, and accelerating the >>collapse of the american economy, bush is fiddling >>while america's economy collapses. >> >> It is a shame that someone like mc cain got lost in >>the republican party, he seems to be a generally >>honorable man, but we need to recover from the >>catastrophe the republicans have made in the last 7 >>years, mc cain is not the man for that job. >> >> Btw, the dollar is approaching a 50% loss in value >>against the euro, such a collapse in the value of a >>currency is typical of a third world country! >> >>>Ya, and McCain getting Bush's endorsement was the >kiss >>>of death. >>> >>>I think people have pretty much figured this out >>>already. That is why McCain is already a lame dog. >>> >>> >>>>A dem, of course. So there's a second consolation; >>>>it's gonna be hung squarely around bush's neck where >>>>it belongs. >>>> >>>>>I think the Bush rape of the US economy has reached >>>>>the breaking point. >>>>> >>>>>The only consolation is that we saw this coming. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
