US Economy
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DownUnderDev wrote:
right after that on CNBC was a interlude on the Amero currency, i had never heard of it before that sounds like a bad idea to me. wouldnt that just flood the US and Canadian job market with cheap labour?
North America isn't going to establish a monetary union. Canada, especially, is opposed to it. The U.S. is Canada's largest trading partner, it's in Canada's interest to have a currency valuation below that of the Americans. It would also imply having to give up banking sovereignty - bad idea all around. There's no real reason as to why a common currency would flood the job market with cheap labour - didn't happen in the EU, won't happen in North America. Why would people all of a sudden decide to sell their labour cheap?
I'm the ocean. I'm a giant undertow.
73Zeppelin wrote:
North America isn't going to establish a monetary union.
I'll remember that you said that and pray that you're right.
"The secret of happiness is freedom, and the secret of freedom, courage." Thucydides (B.C. 460-400)
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73Zeppelin wrote:
North America isn't going to establish a monetary union.
I'll remember that you said that and pray that you're right.
"The secret of happiness is freedom, and the secret of freedom, courage." Thucydides (B.C. 460-400)
Good. You'll see that my prediction plays out.
I'm the ocean. I'm a giant undertow.
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oh it was all on the news today that people lost the money that was in the bank indymac. right after that on CNBC was a interlude on the Amero currency, i had never heard of it before that sounds like a bad idea to me. wouldnt that just flood the US and Canadian job market with cheap labour?
"Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction." -Albert Einstein
modified on Tuesday, July 15, 2008 3:53 AM
DownUnderDev wrote:
people lost the money that was in the bank indymac.
What a crock. You need to choose more honest news sources. All accounts up to $100,000 were fully insured by the government. Maybe a few rich idiots with more tha $100K on deposit in a single account lost some, but if so it was due to their own stupidity (Since merely transferring the ammount in excess to another bank would have kept it insured). CNBC is just trying to create mass hysteria by spreading bullshit, and the Amero crap is just another example of that.
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DownUnderDev wrote:
right after that on CNBC was a interlude on the Amero currency, i had never heard of it before that sounds like a bad idea to me. wouldnt that just flood the US and Canadian job market with cheap labour?
North America isn't going to establish a monetary union. Canada, especially, is opposed to it. The U.S. is Canada's largest trading partner, it's in Canada's interest to have a currency valuation below that of the Americans. It would also imply having to give up banking sovereignty - bad idea all around. There's no real reason as to why a common currency would flood the job market with cheap labour - didn't happen in the EU, won't happen in North America. Why would people all of a sudden decide to sell their labour cheap?
I'm the ocean. I'm a giant undertow.
73Zeppelin wrote:
Canada, especially, is opposed to it.
And Mexico won't discuss it further until all agree to change the currency's name to the "Chicano".
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DownUnderDev wrote:
people lost the money that was in the bank indymac.
What a crock. You need to choose more honest news sources. All accounts up to $100,000 were fully insured by the government. Maybe a few rich idiots with more tha $100K on deposit in a single account lost some, but if so it was due to their own stupidity (Since merely transferring the ammount in excess to another bank would have kept it insured). CNBC is just trying to create mass hysteria by spreading bullshit, and the Amero crap is just another example of that.
Rob Graham wrote:
rich idiots with more tha $100K on deposit in a single account lost some
if I understand it correctly, the insured amount is 200k if it is a joint account.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
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73Zeppelin wrote:
Canada, especially, is opposed to it.
And Mexico won't discuss it further until all agree to change the currency's name to the "Chicano".
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Rob Graham wrote:
rich idiots with more tha $100K on deposit in a single account lost some
if I understand it correctly, the insured amount is 200k if it is a joint account.
Mike - typical white guy. The USA does have universal healthcare, but you have to pay for it. D'oh. Thomas Mann - "Tolerance becomes a crime when applied to evil." The NYT - my leftist brochure. Calling an illegal alien an “undocumented immigrant” is like calling a drug dealer an “unlicensed pharmacist”. God doesn't believe in atheists, therefore they don't exist.
That's correct, and retirement accounts (IRA's and Roths) up to $250K, so there is little excuse for anyone to lose money in any bank collapse.
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is the US economic crisis due to a lack of credibility? i mean come on how can u take "Freddie Mac","Fannie Mae" & "IndyMac" seriously??? At least the "Amero" has a catchy name. i wonder if other banks will fall in the wake of these latest collapses? time to stuff the pillow cases with cash again?
"Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction." -Albert Einstein
DownUnderDev wrote:
i mean come on how can u take "Freddie Mac","Fannie Mae" & "IndyMac" seriously???
Did you forget the joke icon, or are you really so ignorant that you don't know those are just nicknames in common use by the media? "IndyMac": Independent National Mortgage Corporation. "Freddie Mac": Federal Home Loan Mortgage Corporation. "Fannie Mae": Federal National Mortgage Association
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That's correct, and retirement accounts (IRA's and Roths) up to $250K, so there is little excuse for anyone to lose money in any bank collapse.
Rob Graham wrote:
That's correct, and retirement accounts (IRA's and Roths) up to $250K, so there is little excuse for anyone to lose money in any bank collapse.
How much time can the FDIC take to pay off the money? And does it have to pay it all at once? I've heard disturbing answers to these questions, but I haven't confirmed their validity.
Christianity: The belief that some cosmic Jewish zombie can make you live forever if you symbolically eat his flesh, drink his blood, and accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree. Makes perfect sense.
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Rob Graham wrote:
That's correct, and retirement accounts (IRA's and Roths) up to $250K, so there is little excuse for anyone to lose money in any bank collapse.
How much time can the FDIC take to pay off the money? And does it have to pay it all at once? I've heard disturbing answers to these questions, but I haven't confirmed their validity.
Christianity: The belief that some cosmic Jewish zombie can make you live forever if you symbolically eat his flesh, drink his blood, and accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree. Makes perfect sense.
Al Beback wrote:
How much time can the FDIC take to pay off the money?
The FDIC is "paying it off" right now. Anyone who walks into Indy can withdraw their account up to 100,000 (etc. for other cited cases).
Jon Smith & Wesson: The original point and click interface
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DownUnderDev wrote:
"Amero"
Funny how the american fear the European governments erecting a system modelled after the federal US system... ...and how the European people fear erecting a system modelled after the federal US system.
Let's think the unthinkable, let's do the undoable, let's prepare to grapple with the ineffable itself, and see if we may not eff it after all.
Douglas Adams, "Dirk Gently's Holistic Detective Agency"jhwurmbach wrote:
Funny how the american fear the European governments erecting a system modelled after the federal US system
Actually we see the EU as the closest Europe has come to fulfilling Napolean's dream - except for Hitler, of course.
Jon Smith & Wesson: The original point and click interface
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DownUnderDev wrote:
i mean come on how can u take "Freddie Mac","Fannie Mae" & "IndyMac" seriously???
Did you forget the joke icon, or are you really so ignorant that you don't know those are just nicknames in common use by the media? "IndyMac": Independent National Mortgage Corporation. "Freddie Mac": Federal Home Loan Mortgage Corporation. "Fannie Mae": Federal National Mortgage Association
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jhwurmbach wrote:
Funny how the american fear the European governments erecting a system modelled after the federal US system
Actually we see the EU as the closest Europe has come to fulfilling Napolean's dream - except for Hitler, of course.
Jon Smith & Wesson: The original point and click interface
Sorry - I did remember you being British. Sorry for that! To me, the single-minded localism of most petty-politicians is a prime reason for the current stat of affairs in europe. But I agree with you that a EC with another bureaucracy on top of the existing ones is a bad thing. Something must be done to throw away several levels of bureaucracy. In this, I support the Irish vote. Our local politicians are afraid of letting us vote, as the stupid citizen could ruin all those pretty plans! Also, it is quite funny to hear those federalist statements from an Englishmen, when the first hesistant attempts with Scottish, Welsh and Irish parliaments are only a few years ago. Before that, England was an empire. An empire more rigid and backward than the French Empire (1800-1813!) ever was. Additionally, the French did do us Germans a real favor: They cleaned up the Habsburgian mess left over from the centuries before.
Let's think the unthinkable, let's do the undoable, let's prepare to grapple with the ineffable itself, and see if we may not eff it after all.
Douglas Adams, "Dirk Gently's Holistic Detective Agency" -
Rob Graham wrote:
That's correct, and retirement accounts (IRA's and Roths) up to $250K, so there is little excuse for anyone to lose money in any bank collapse.
How much time can the FDIC take to pay off the money? And does it have to pay it all at once? I've heard disturbing answers to these questions, but I haven't confirmed their validity.
Christianity: The belief that some cosmic Jewish zombie can make you live forever if you symbolically eat his flesh, drink his blood, and accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree. Makes perfect sense.
Al Beback wrote:
but I haven't confirmed their validity.
Why don't you try confirming their validity (actually lack of same) before spreading the rumors by posting questions (and innuendos - "I've heard disturbing answers" ) like that?
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Al Beback wrote:
but I haven't confirmed their validity.
Why don't you try confirming their validity (actually lack of same) before spreading the rumors by posting questions (and innuendos - "I've heard disturbing answers" ) like that?
Rob Graham wrote:
Why don't you try confirming their validity (actually lack of same) before spreading the rumors by posting questions (and innuendos - "I've heard disturbing answers" ) like that?
Why don't you lick me? See? It's not fun being told what to do, huh? I wasn't spreading anything (except some mustard on a burger). I was just bringing up some questions based on something someone told me. I figured you may know more about it, or perhaps be willing to dig it up. I did some digging before posting but found nothing.
Christianity: The belief that some cosmic Jewish zombie can make you live forever if you symbolically eat his flesh, drink his blood, and accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree. Makes perfect sense.
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Al Beback wrote:
How much time can the FDIC take to pay off the money?
The FDIC is "paying it off" right now. Anyone who walks into Indy can withdraw their account up to 100,000 (etc. for other cited cases).
Jon Smith & Wesson: The original point and click interface
Oakman wrote:
The FDIC is "paying it off" right now.
Good to know, thanks. If I recall correctly, a Wachovia bank officer told us that the FDIC can take as much as 15 years to pay, and do it in small payments if it wants. Google hasn't helped me confirm this though.
Christianity: The belief that some cosmic Jewish zombie can make you live forever if you symbolically eat his flesh, drink his blood, and accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree. Makes perfect sense.
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DownUnderDev wrote:
i mean come on how can u take "Freddie Mac","Fannie Mae" & "IndyMac" seriously???
Did you forget the joke icon, or are you really so ignorant that you don't know those are just nicknames in common use by the media? "IndyMac": Independent National Mortgage Corporation. "Freddie Mac": Federal Home Loan Mortgage Corporation. "Fannie Mae": Federal National Mortgage Association
yeah i actually never heard of them before so i pled ignorance, but it was a joke thread also. when you say fannie and freddie are "federal" does that mean owned by the government? because after this crash the feederal reserve bank will own a large portion of them. i am guessing you guys know that the federal reserve bank is private owned company
"Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction." -Albert Einstein
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yeah i actually never heard of them before so i pled ignorance, but it was a joke thread also. when you say fannie and freddie are "federal" does that mean owned by the government? because after this crash the feederal reserve bank will own a large portion of them. i am guessing you guys know that the federal reserve bank is private owned company
"Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction." -Albert Einstein
DownUnderDev wrote:
when you say fannie and freddie are "federal" does that mean owned by the government?
Other way around. The "Federal" Government takes its name from the banks that own it... :-\
Citizen 20.1.01
'The question is,' said Humpty Dumpty, 'which is to be master - that's all.'
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DownUnderDev wrote:
when you say fannie and freddie are "federal" does that mean owned by the government?
Other way around. The "Federal" Government takes its name from the banks that own it... :-\
Citizen 20.1.01
'The question is,' said Humpty Dumpty, 'which is to be master - that's all.'
hahaha that is so true
"Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction." -Albert Einstein