Home › Forums › Financial Markets/Economics › Day of reckoning looms for the U.S. dollar
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May 27, 2009 at 10:46 PM #407181May 27, 2009 at 11:02 PM #406500ArrayaParticipant
Bernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars...
May 27, 2009 at 11:02 PM #406743ArrayaParticipantBernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars...
May 27, 2009 at 11:02 PM #406987ArrayaParticipantBernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars...
May 27, 2009 at 11:02 PM #407050ArrayaParticipantBernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars...
May 27, 2009 at 11:02 PM #407196ArrayaParticipantBernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars...
May 27, 2009 at 11:16 PM #406505CoronitaParticipant[quote=Arraya]Bernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars... [/quote] You left out that Medicare won't be able to meet it's obligations in 8 years, much sooner than previously expected. http://www.npr.org/templates/story/story.php?storyId=104079588&ft=1&f=1018
May 27, 2009 at 11:16 PM #406748CoronitaParticipant[quote=Arraya]Bernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars... [/quote] You left out that Medicare won't be able to meet it's obligations in 8 years, much sooner than previously expected. http://www.npr.org/templates/story/story.php?storyId=104079588&ft=1&f=1018
May 27, 2009 at 11:16 PM #406992CoronitaParticipant[quote=Arraya]Bernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars... [/quote] You left out that Medicare won't be able to meet it's obligations in 8 years, much sooner than previously expected. http://www.npr.org/templates/story/story.php?storyId=104079588&ft=1&f=1018
May 27, 2009 at 11:16 PM #407055CoronitaParticipant[quote=Arraya]Bernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars... [/quote] You left out that Medicare won't be able to meet it's obligations in 8 years, much sooner than previously expected. http://www.npr.org/templates/story/story.php?storyId=104079588&ft=1&f=1018
May 27, 2009 at 11:16 PM #407201CoronitaParticipant[quote=Arraya]Bernake is smoking green shoots;)
Fun Facts:
-Job loss average for 09: 663,000 jobs per month
-46/50 states have MIScalculated budget short falls
-Average national monthly equity loss: 400 billion
-20 million homeowners underwater, 35-50% mortgage holders in SoCal
-Percentage of foreclosures from unemployment: 60%
-Federal income tax dropped 44% from a year ago
-Approximate number of job losses from GM/Chysler bankruptcies: 1.5-2 million
-Boomers are opting for early SS
As a result, the trust fund’s annual surplus is forecast to all but vanish next year — nearly a decade ahead of schedule — and deprive the government of billions of dollars it had been counting on to help balance the nation’s books.The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations<---My favorite line -Growth has gone the way of the dodo Welcome to the New World DISorder. The emperor's cloths are made of dollars... [/quote] You left out that Medicare won't be able to meet it's obligations in 8 years, much sooner than previously expected. http://www.npr.org/templates/story/story.php?storyId=104079588&ft=1&f=1018
May 27, 2009 at 11:51 PM #406520CA renterParticipantA couple of Chinese friends recently told me about the change in their own families’ stance on the dollar.
When they used to go back home, their friends and family members would have them bring dollars so they could exchange their yuan. Now, they don’t want anything to do with the dollar.
Also, I had to transfer money to Europe for an estate settlement in 2007. The dollar was at a low point at the time, and I asked if they wanted to see if the dollar would appreciate a bit first. They laughed and said they didn’t think the dollar was going anywhere but down (it did appreciate in the meantime, BTW).
Still, if the “Average Joes” in other countries are shunning the dollar, one can only wonder what the higher-ups are thinking.
May 27, 2009 at 11:51 PM #406763CA renterParticipantA couple of Chinese friends recently told me about the change in their own families’ stance on the dollar.
When they used to go back home, their friends and family members would have them bring dollars so they could exchange their yuan. Now, they don’t want anything to do with the dollar.
Also, I had to transfer money to Europe for an estate settlement in 2007. The dollar was at a low point at the time, and I asked if they wanted to see if the dollar would appreciate a bit first. They laughed and said they didn’t think the dollar was going anywhere but down (it did appreciate in the meantime, BTW).
Still, if the “Average Joes” in other countries are shunning the dollar, one can only wonder what the higher-ups are thinking.
May 27, 2009 at 11:51 PM #407007CA renterParticipantA couple of Chinese friends recently told me about the change in their own families’ stance on the dollar.
When they used to go back home, their friends and family members would have them bring dollars so they could exchange their yuan. Now, they don’t want anything to do with the dollar.
Also, I had to transfer money to Europe for an estate settlement in 2007. The dollar was at a low point at the time, and I asked if they wanted to see if the dollar would appreciate a bit first. They laughed and said they didn’t think the dollar was going anywhere but down (it did appreciate in the meantime, BTW).
Still, if the “Average Joes” in other countries are shunning the dollar, one can only wonder what the higher-ups are thinking.
May 27, 2009 at 11:51 PM #407069CA renterParticipantA couple of Chinese friends recently told me about the change in their own families’ stance on the dollar.
When they used to go back home, their friends and family members would have them bring dollars so they could exchange their yuan. Now, they don’t want anything to do with the dollar.
Also, I had to transfer money to Europe for an estate settlement in 2007. The dollar was at a low point at the time, and I asked if they wanted to see if the dollar would appreciate a bit first. They laughed and said they didn’t think the dollar was going anywhere but down (it did appreciate in the meantime, BTW).
Still, if the “Average Joes” in other countries are shunning the dollar, one can only wonder what the higher-ups are thinking.
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