Kevin W. wrote: "You're supposed to use a joke once and then more on to a
new joke. "
-------------------------
Oh I rarely follow the "rules" - which are set up, of course, by the
wannabe "rulers" of Pacifica.
And Kevin I also note that you repeat, over and over and over and over your
same complaints about what you do not like about Pacifica. So the "rules" do
not apply to you but only to others? Oh my! - how Pacifica of you.
Jim "And if Pacifica finally 'got it' I would not have to repeat the
statement of issues." D.
----- Original Message -----
From: Kevin White
To: pacifica_now@xxxxxxxxxxxxxxx ; Per Fagereng ;
fulcrumsofchange@xxxxxxxxxxxxxx ; NewPacifica@xxxxxxxxxxxxxxx ;
pacificaradiowaves@xxxxxxxxxxxxxxx ; rocklandfriendsofwbai@xxxxxxxxxxxxxxx
Sent: Sunday, July 20, 2008 5:14 PM
Subject: [NewPacifica] Re: [Pacifica_now] Don't count on the
ailing-capitalist corporate system bailing us out
Hi Jim,
You're supposed to use a joke once and then more on to a new joke.
Those are the rules.
K
----- Original Message ----
From: "jdemaegt@xxxxxxxxxxxxx" <jdemaegt@xxxxxxxxxxxxx>
To: Per Fagereng <phantom@xxxxxxxxxxx>; Kevin White <cuitlacoche1@xxxxxxxxx>;
pacifica_now@xxxxxxxxxxxxxxx; fulcrumsofchange@xxxxxxxxxxxxxx;
NewPacifica@xxxxxxxxxxxxxxx; pacificaradiowaves@xxxxxxxxxxxxxxx;
rocklandfriendsofwbai@xxxxxxxxxxxxxxx
Sent: Sunday, July 20, 2008 6:23:05 PM
Subject: [pacifica_now] Don't count on the ailing-capitalist corporate system
bailing us out
BUT you forgot to add that some of our "economic overlords" are good
people and some are "jerks". And it is only the "jerks" that are causing
any problems - the "Businesses" themselves are not the problem.
And, by the way - won't Obama be CHANGING all us this and Saving
America?
Jim "It is really just an individual problem and it is NOT the
capitalist corporate system that is the problem - instead it is just the
'jerks' of any and all types that are causing all the problems." D
----- Original Message -----
From: "Per Fagereng" <phantom@xxxxxxxxxxx>
To: "Kevin White" <cuitlacoche1@xxxxxxxxx>; <NewPacifica@xxxxxxxxxxxxxxx>;
<pacifica_now@xxxxxxxxxxxxxxx>; <fulcrumsofchange@xxxxxxxxxxxxxx>
Sent: Sunday, July 20, 2008 4:00 PM
Subject: Re: [Fulcrumsofchange] Don't count on ailing-dollar bailout
One possibility is that our economic overlords want the dollar to decline.
That way America's debts can be paid in cheaper dollars. Sooner or later,
however, the creditors will cut their losses and dump the dollar.
Meanwhile our overlords will have moved their money to other currencies
or to commodities, or to (now cheap) real estate.
Another related possibility is that the US will come out with a New Dollar,
and exchange one New for 10 or 100 Old, thereby "cutting" inflation. The
kicker is that only US citizens could exchange Old for New. Our foreign
creditors would get screwed. Needless to say, no one in their right mind
would lend the US anything.
Per Fagereng
----- Original Message -----
From: "Kevin White" <cuitlacoche1@xxxxxxxxx>
To: <NewPacifica@xxxxxxxxxxxxxxx>; <pacifica_now@xxxxxxxxxxxxxxx>;
<fulcrumsofchange@xxxxxxxxxxxxxx>
Sent: Saturday, July 19, 2008 9:32 PM
Subject: [Fulcrumsofchange] Don't count on ailing-dollar bailout
> ALL BUSINESS: Don't count on ailing-dollar bailout
> By RACHEL BECK, AP Business WriterFri Jul 18, 12:28 PM ET
> Federal rescue plans are all the rage in Washington right now, for what
> seems to be everything but the dollar. The U.S. currency is not going to
> get a bailout, even though its steep decline is feeding inflation and
> straining the economy.
> Federal Reserve Chairman Ben Bernanke and other officials have assured us
> that the government is on the case of the plunging dollar.
> Talk is cheap — they won't likely do anything about it.
> That's because the Bush administration since taking office nearly eight
> years ago has not supported any U.S.-led intervention in foreign-exchange
> markets despite the greenback's steep decline. That action would involve
> buying the ailing currency to boost its value.
> "It would take a rare set of circumstances to get the U.S. right now to
> intervene," said David Gilmore, a managing partner in Foreign Exchange
> Analytics in Essex, Conn.
> With that in mind, we have to look at what Bernanke told Congress on
> Wednesday with some skepticism. While noting that intervention is rarely
> done, he said that temporary action on currencies isn't out of the
> question.
> "Market intervention is a policy that's been undertaken a few times ...
> but there may be conditions where markets are disorderly, where some
> temporary action might be justified," he said during a hearing before the
> House Financial Services Committee.
> That kind of rhetoric has been the only tool that Bernanke and Treasury
> Secretary Henry Paulson have used to bolster the dollar in recent months.
> In early June, they also floated the idea that intervention was a
> possibility, giving the dollar a brief run higher.
> Bernanke's words on Wednesday gave a little jolt to the battered
> greenback, which had slumped the day before to a new low against the euro.
> At one point on Tuesday, a euro bought $1.6038, the most since the
> inception of the 15-nation currency.
> The dollar's decline that day was fed by intensified worries about the
> health of the U.S. economy and financial system after the government
> announced a rescue plan for mortgage giants Fannie Mae and Freddie Mac,
> not long after one of the country's biggest mortgage banks IndyMac Bank
> collapsed and was taken over by federal regulators on July 11.
> While the dollar has been falling for some five years, continuing grim
> U.S. financial news has spurred a considerable slide in recent months. Not
> only has the U.S. economy taken a beating in the last year, but conditions
> seem to be getting worse as the housing market remains in a serious slump,
> credit conditions are tight and inflation is soaring.
> To combat declining economic growth, the Fed has cut its overnight
> borrowing rate seven times since September to the ultra-low level of 2
> percent. But that has done little to improve conditions, and has only
> exaggerated the dollar's weakness as investors have moved their funds —
> and thereby, sold their dollars — into countries offering higher interest
> rates.
> Intervention talk from Bernanke and others may just be a way to buy some
> time, and hope the dollar reverses course on its own, a result of market
> forces rather than central bank intervention.
> Currency experts say that could happen should the euro-zone's economies
> begin to break down as the U.S. outlook starts looking up.
> Some of what has propelled the euro to new heights against the dollar has
> been the idea that Europe is in better financial health than the United
> States. The European Central Bank, which sets interest rates for the
> 15-nation euro zone, has adjusted its own rate once since last summer,
> making no cuts and then raising rates last month in an attempt to curb
> inflation.
> But new data show increasing economic weakness in parts of Europe. Stock
> markets there have declined sharply since May in tandem with those in the
> United States. Investor sentiment in Switzerland and in Germany — Europe's
> biggest economy — has slumped, while there is evidence of weakening
> business conditions, with big job cuts and bankruptcies being announced.
> Should things worsen abroad, it could indicate that United States is ahead
> of Europe in this downward business cycle. "(T)he fundamentals could soon
> shift in favor of the dollar over the euro," said Marc Chandler, global
> head of currency strategy at the investment firm Brown Brothers Harriman.
> But the U.S. government has other tools that it could use besides currency
> intervention. One option, notes Gilmore of Foreign Exchange Analytics, is
> to turn back the clock to the late 1970s, and issue what became known then
> as "Carter Bonds." Those were U.S. Treasury bonds named after
> then-President Jimmy Carter, and they were denominated in German marks and
> Swiss francs. Their purpose was to make U.S. Treasuries more appealing to
> offshore investors — an effort that worked.
> For now, the dollar is on its own, without any federal aid to prop it up.
> It's a lonely place to be.
> ___
> Rachel Beck is the national business columnist for The Associated Press.
> Write to her at rbeck(at)ap.org
>
>
>
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>
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