LOL: interesting day on the street today…

[briansd1]

[quote=desmond]
How do you like Union(police) vs Union(Government workers)in Greece with the riots? Could or when does this happen in the U.S.?[/quote]

I could happen here. Never say never.

But very unlikely because:

1) Our debt is denominated in our own currency (can devalue the debt away if needed),

2) We still have the biggest economy by far (exporters still need to sell to us and we only pay in USD),

3) We still have the largest most powerful military (so even if we owe money to the world, they will continue to extend us credit and pay our salaries to be the policemen of the world)

For now, there’s no alternative to the US Dollar. We will need to worry if and when there’s a credible alternative to the USD.

[Fletch]

[quote=briansd1]
1) Our debt is denominated in our own currency (can devalue the debt away if needed),
[/quote]

Except that isn’t almost all of our underlying debt (social security and medicare) inflation-indexed, and thus not capable of being “devalued away”?

[Fletch]

[quote=briansd1]
1) Our debt is denominated in our own currency (can devalue the debt away if needed),
[/quote]

Except that isn’t almost all of our underlying debt (social security and medicare) inflation-indexed, and thus not capable of being “devalued away”?

[Fletch]

[quote=briansd1]
1) Our debt is denominated in our own currency (can devalue the debt away if needed),
[/quote]

Except that isn’t almost all of our underlying debt (social security and medicare) inflation-indexed, and thus not capable of being “devalued away”?

[Fletch]

[quote=briansd1]
1) Our debt is denominated in our own currency (can devalue the debt away if needed),
[/quote]

Except that isn’t almost all of our underlying debt (social security and medicare) inflation-indexed, and thus not capable of being “devalued away”?

[Fletch]

[quote=briansd1]
1) Our debt is denominated in our own currency (can devalue the debt away if needed),
[/quote]

Except that isn’t almost all of our underlying debt (social security and medicare) inflation-indexed, and thus not capable of being “devalued away”?

[Zeitgeist]

http://yidwithlid.blogspot.com/2010/05/holy-cow-massive-stock-market-drop.html

Both Fox Business and CNBC are both reporting that the 20 minute crash was caused by a typo. There was trader error in which someone entered a “b” for billion instead of an “m” for million in a trade of Procter and Gamble stock. This called P&G stock to mistakenly lowered considerably, thus triggering an avalanche of program selling. Procter and Gamble is a component of the DJIA.

[Zeitgeist]

http://yidwithlid.blogspot.com/2010/05/holy-cow-massive-stock-market-drop.html

Both Fox Business and CNBC are both reporting that the 20 minute crash was caused by a typo. There was trader error in which someone entered a “b” for billion instead of an “m” for million in a trade of Procter and Gamble stock. This called P&G stock to mistakenly lowered considerably, thus triggering an avalanche of program selling. Procter and Gamble is a component of the DJIA.

[Zeitgeist]

http://yidwithlid.blogspot.com/2010/05/holy-cow-massive-stock-market-drop.html

Both Fox Business and CNBC are both reporting that the 20 minute crash was caused by a typo. There was trader error in which someone entered a “b” for billion instead of an “m” for million in a trade of Procter and Gamble stock. This called P&G stock to mistakenly lowered considerably, thus triggering an avalanche of program selling. Procter and Gamble is a component of the DJIA.

[Zeitgeist]

http://yidwithlid.blogspot.com/2010/05/holy-cow-massive-stock-market-drop.html

Both Fox Business and CNBC are both reporting that the 20 minute crash was caused by a typo. There was trader error in which someone entered a “b” for billion instead of an “m” for million in a trade of Procter and Gamble stock. This called P&G stock to mistakenly lowered considerably, thus triggering an avalanche of program selling. Procter and Gamble is a component of the DJIA.

[Zeitgeist]

http://yidwithlid.blogspot.com/2010/05/holy-cow-massive-stock-market-drop.html

Both Fox Business and CNBC are both reporting that the 20 minute crash was caused by a typo. There was trader error in which someone entered a “b” for billion instead of an “m” for million in a trade of Procter and Gamble stock. This called P&G stock to mistakenly lowered considerably, thus triggering an avalanche of program selling. Procter and Gamble is a component of the DJIA.

[briansd1]

[quote=Fletch]

Except that isn’t almost all of our underlying debt (social security and medicare) inflation-indexed, and thus not capable of being “devalued away”?[/quote]

My dad gets Social Security. He did not get an increase in 2010.

WASHINGTON — For the first time in more than three decades, Social Security recipients will not get any increase in their benefits next year, federal forecasts show.

[briansd1]

[quote=Fletch]

Except that isn’t almost all of our underlying debt (social security and medicare) inflation-indexed, and thus not capable of being “devalued away”?[/quote]

My dad gets Social Security. He did not get an increase in 2010.

WASHINGTON — For the first time in more than three decades, Social Security recipients will not get any increase in their benefits next year, federal forecasts show.

[briansd1]

[quote=Fletch]

Except that isn’t almost all of our underlying debt (social security and medicare) inflation-indexed, and thus not capable of being “devalued away”?[/quote]

My dad gets Social Security. He did not get an increase in 2010.

WASHINGTON — For the first time in more than three decades, Social Security recipients will not get any increase in their benefits next year, federal forecasts show.

[briansd1]

[quote=Fletch]

Except that isn’t almost all of our underlying debt (social security and medicare) inflation-indexed, and thus not capable of being “devalued away”?[/quote]

My dad gets Social Security. He did not get an increase in 2010.

WASHINGTON — For the first time in more than three decades, Social Security recipients will not get any increase in their benefits next year, federal forecasts show.

[Author]

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