Unemployed? Tough ѕhit

[Obama 2012 1,714]

I thought this was addressed yesterday...the constitution doesn't focus on the economy. (BTW the constitution gives the government authority to value our currency as they see fit.)

I've got news for you, the Government no longer does this.

See: Federal Reserve Act of 1913.

[Ali G. 37]

The free market is a good "general principle" but doesn't always work effectively without some regulation. Case in point you could say the economy is stuck in an under-consumption trap. The principle behind a free market is that if everyone thinks as an individual and puts their best interests at heart and that then creates balance in supply/demand.

Unfortunately, when your in our current trap thinking as individuals it is actually counterproductive. In order to maximise profits a company will cut labor to keep the margin. That's good for them when thinking as an individual, the problem is that when they do that they contribute to a suppression of spending due to a weak job market which then hurts their profits later on. Again thinking like an individual they again cut labor to protect profits and then profits take another hit.

That's the whole point of a minimum wage, it sets the floor and allows the free-market to work from there. It prevents slave drivers from exploiting people, while they amass exorbitant amounts of money.

[Usui Takumi 1,562]

I've got news for you, the Government no longer does this.

See: Federal Reserve Act of 1913.

and the Fed is still under the control of congress, maybe not tight enough but there is still control

[Obama 2012 1,714]

and the Fed is still under the control of congress, maybe not tight enough but there is still control

not really. Most congressman are lawyers and don't understand economics well enough to know what the Fed is actually doing.

A few courageous members of congress are pushing for a Fed audit, but it's a tough battle to fight.

Why make the hard decisions to 'cut funding' or 'move money around' when congress can just ask the Fed to borrow more money..... It's part of the reason we are in debt today like we are.

Your tax dollars don't go into the treasury really anymore, they go to re-paying the Fed, which isn't even repaying them, it's repaying the interest. Part of the reason why the debt goes up and up and up.....

[Ali G. 37]

awww, hitting a nerve by bringing up the constitution.

A few classes on US Government, Economics, Currency, and of course the Constitution might do you some good.

and yes I'm being snarky.

You can't lump some everything into business vs. government vs. the people. Value of currency actually plays a huge role in overall "cost" of goods, etc.

Read about the steady decline in value of the US Dollar and you'll learn a lot about our economic messes.

A loaf of bread should never cost any more than $.05 to be honest.

for example: That $0.99 loaf of bread you're paying for today back $100 years ago would be valued today @ $20 per loaf. ---- That actually is a huge factor when you think about it.

I won't even both going down the lack of logic relating to the use of the Constitution in any and every argument by some, as it seems to be an illness here. AKA can of worms.. It's like trying to reason with 9/11 deniers.

What you are referring to is inflation. In terms of the US dollar, the value of the dollar has dropped because people are selling it.

It's part of the reason we are in debt today like we are.

What about the funding of two wars and the $1 trillion dollar annual military expenditure.

Edited February 27, 2010 by Booyah

[Usui Takumi 1,562]

not really. Most congressman are lawyers and don't understand economics well enough to know what the Fed is actually doing.

A few courageous members of congress are pushing for a Fed audit, but it's a tough battle to fight.

Why make the hard decisions to 'cut funding' or 'move money around' when congress can just ask the Fed to borrow more money..... It's part of the reason we are in debt today like we are.

Your tax dollars don't go into the treasury really anymore, they go to re-paying the Fed, which isn't even repaying them, it's repaying the interest. Part of the reason why the debt goes up and up and up.....

Yes and I support the audit but you can't say the control isn't there just because congress fails to act.

[Ali G. 37]

A few courageous members of congress are pushing for a Fed audit, but it's a tough battle to fight.

So you support auditing the government but private entities should be free to so as they please?

[Obama 2012 1,714]

I wonder even both going down the lack of logic relating to the use of the Constitution in any and every argument by some as it seems to be an illness here. It's like trying to reason with 9/11 deniers.

What you are referring to is inflation. In terms of the US dollar, the value of the dollar has dropped because people are selling it.

Inflation is a Devaluation in currency...... cmon now, get with the program!

The dollar is being traded illegally on the world market in all honesty and should never be decided upon by those who bid or not bid on it. Again UNCONSTITUTIONAL.

So someone who believes in the constitution is a 9/11 truther? Are you ###### kidding me?

What about the funding of two wars and the $1 trillion dollar annual military expenditure.

Never said we should be doing this.

So you support auditing the government but private entities should be free to so as they please?

I said fraud and deceptive practices should be regulated. Please keep up.

[Obama 2012 1,714]

Yes and I support the audit but you can't say the control isn't there just because congress fails to act.

Figuring the Federal Reserve hasn't been audited once and hasn't been kept in check for about 70 years...... I hardly call congress being in control. They pretty much do whatever the Chair tells them to do, because they know no better otherwise....

[Ali G. 37]

Inflation is a Devaluation in currency...... cmon now, get with the program!

The dollar is being traded illegally on the world market in all honesty and should never be decided upon by those who bid or not bid on it. Again UNCONSTITUTIONAL.

What do you recommend we do with the dollar?

[Usui Takumi 1,562]

Figuring the Federal Reserve hasn't been audited once and hasn't been kept in check for about 70 years...... I hardly call congress being in control. They pretty much do whatever the Chair tells them to do, because they know no better otherwise....

That's poor governing by congress not really a constitutional issue.

[Obama 2012 1,714]

What do you recommend we do with the dollar?

Currency should never be valued by the paper its printed on.

If you go back to the inception of the United States, we were on a "fiat" monetary system like we are now. The founders specifically wanted to make sure that type of system was never put into place again, because it only made the banks richer and kept the people down. They in a sense realized the fallacy of the system they had even back then.

So they came up with the gold standard in which the dollar was to be measured on. Money was to never be printed on paper either. It had to be coined from either gold or silver pieces by the states.

When the Federal Reserve standard was first introduced and paper money in 1913, the "Federal Reserve Notes" were still guaranteed and backed-up by gold. You could literally trade your dollars in for gold if you so desired to do so...

Now mind you, the gold standard isn't exactly a feasible practice today, because frankly we don't have THAT much gold, but we still have silver and we have other precious materials that could help.

The reason why the fiat money system is bad, is it's pretty damn easy if you bottom out a currency to make it worthless. Items and precious metals/stones will always have value though, no matter what. Imagine nations ganging up on another nations and selling off all their currency to nothing. It's dangerous territory.

Paper is paper, period.

That's a short story there... Researching the history of the dollar, how it got changed to the Federal Reserve System, how it changed in the 1930's, again in the 1950's where it became open for trade, and then again to remove the gold standard completely in the 1970's.... it's all interesting and only benefited the banks in the end.....

[NVC FAN :( 18]

booyah, if things are so great in austraila you know what to do. and your so street smart, bunning did the right thing. why should ppl be allowed to sit around for years collecting money they never paid in. cant wait till elections coming in november, then i hope to see you here again spreading your liberal bullshit.

[Ali G. 37]

booyah, if things are so great in austraila you know what to do. and your so street smart, bunning did the right thing. why should ppl be allowed to sit around for years collecting money they never paid in. cant wait till elections coming in november, then i hope to see you here again spreading your liberal bullshit.

First off, I'm not a liberal. You lost me about sitting around collecting money, as I probably pay more in federal taxes than the state of Indiana..

Things are not just great over there, they're excellent.

What is it with folks from the Midwest? Has your loss of manufacturing made you guys loopy or something?

Edited February 27, 2010 by Booyah

[Trumplestiltskin 5,791]

Unless you are aborigine