SUBSIM Radio Room Forums



SUBSIM: The Web's #1 resource for all submarine & naval simulations since 1997

Go Back   SUBSIM Radio Room Forums > General > General Topics
Forget password? Reset here

Reply
 
Thread Tools Display Modes
Old 10-04-11, 04:20 PM   #1
Gerald
SUBSIM Newsman
 
Gerald's Avatar
 
Join Date: May 2008
Location: Close to sea
Posts: 24,254
Downloads: 553
Uploads: 0


Ben Bernanke says US economy 'close to faltering'

US Federal Reserve Chairman Ben Bernanke has told Congress that the US economy is "close to faltering" and more action may be needed.Giving testimony to the US legislature, he said the Fed was "prepared to take further action as appropriate" to bolster the recovery.His comments come after the Fed already decided to shift $400bn of investments into longer-term government debt.Stock markets responded positively, with the Dow Jones rallying over 1%.But US markets fell back again somewhat in afternoon trading.

China 'blocking'

He said the switch into longer-term government debt announced last month - dubbed Operation Twist - was the equivalent of a half-percentage-point cut in interest rates, and gave a "meaningful, but not an enormous support to the economy".But he warned that the eurozone debt crisis, as well as overly hasty spending cuts by the federal government, risked undermining the US recovery.When asked what additional action the Fed might take if the economy continued to weaken, he reiterated policy options he has laid out in past speeches:giving clearer guidance as to how long interest rates will be held close to zero, and in what circumstances they would rise;increasing "quantitative easing" - the Fed's purchase of US government bonds and other debts;cutting the interest rate paid on excess cash that the banks hold at the Fed.But he added that the US central bank's monetary policies were "no panacea".

http://www.bbc.co.uk/news/business-15173683



Note: 4 October 2011 Last updated at 19:24 GMT
__________________
Nothing in life is to be feard,it is only to be understood.

Marie Curie





Gerald is offline   Reply With Quote
Old 10-04-11, 07:14 PM   #2
magicstix
Captain
 
Join Date: Aug 2011
Location: Nuclear submarine under the North Pole
Posts: 482
Downloads: 1
Uploads: 0
Default

"Come now, you rich, weep and howl for your miseries that are coming upon you! Your riches are corrupted, and your garments moth-eaten!"

"Wail, you who live in the market district; all your merchants will be wiped out, all who trade with silver will be destroyed!"

"They will throw their silver into the streets, and their gold will be like refuse..."

magicstix is offline   Reply With Quote
Old 10-04-11, 08:00 PM   #3
Rockstar
In the Brig
 
Join Date: Nov 2002
Location: Zendia Bar & Grill
Posts: 12,614
Downloads: 10
Uploads: 0


Default

Quote:
Originally Posted by magicstix View Post
"Come now, you rich, weep and howl for your miseries that are coming upon you! Your riches are corrupted, and your garments moth-eaten!"

"Wail, you who live in the market district; all your merchants will be wiped out, all who trade with silver will be destroyed!"

"They will throw their silver into the streets, and their gold will be like refuse..."

Reckon I'll be hanging around the trash can then
Rockstar is offline   Reply With Quote
Old 10-04-11, 08:02 PM   #4
magicstix
Captain
 
Join Date: Aug 2011
Location: Nuclear submarine under the North Pole
Posts: 482
Downloads: 1
Uploads: 0
Default

Quote:
Originally Posted by Rockstar View Post
Reckon I'll be hanging around the trash can then
Heh, gold only has value because we assign it one. It's not an inherently useful metal in and of itself, nor is it particularly rare. It's every bit a fiat currency as something printed on paper.
magicstix is offline   Reply With Quote
Old 10-05-11, 01:29 AM   #5
Castout
Silent Hunter
 
Join Date: Nov 2006
Location: Jakarta
Posts: 4,794
Downloads: 89
Uploads: 6
Default

Great news, it has been boring. Tis is an interesting times we live in.

Political, economical and global climate crises are coming our way HARD and FAST!!!

I expect mankind to fail to live up to the challenges. We're good at failing. And then to make excuses why we didn't fail. Oops.


||
__________________

Last edited by Castout; 10-05-11 at 01:52 AM.
Castout is offline   Reply With Quote
Old 10-05-11, 03:35 AM   #6
JU_88
Silent Hunter
 
Join Date: Jan 2006
Location: UK
Posts: 3,816
Downloads: 11
Uploads: 0
Default

Yep its no big secret that there is a storm coming, the economy is about to fall on its ass. Its not a question of 'if' but 'when'.
the only real question I have is how bad is it going to be? many seem to suggest it will be far more serious than 2008 this time around.
Might be a good time to stock up on tinned food.
@Cast out, I dont think anyone will be celebrating when they lose there jobs, savings and security. we talking about possible instabillity on a global scale, I dont think anyone is safe.
I only hope a better system will rise from the ashes.
JU_88 is offline   Reply With Quote
Old 10-05-11, 05:12 AM   #7
Skybird
Soaring
 
Skybird's Avatar
 
Join Date: Sep 2001
Location: the mental asylum named Germany
Posts: 42,767
Downloads: 10
Uploads: 0


Default

Quote:
Originally Posted by magicstix View Post
Heh, gold only has value because we assign it one. It's not an inherently useful metal in and of itself, nor is it particularly rare. It's every bit a fiat currency as something printed on paper.
People from at least two thiosuand years beg to disagree with you when you think state'S money is as precious or worthless as gold. That does not mean that gold has a nature-given value, but it has proven to be a more trustworthy value asset to trade with int imes of crisis, than printed paper money. That is why owning solid gold and owning a piece of paper with options for gold, are not the same.

There were times both in Germany and the US, when the states were so threatened by the lacking trust in their inflation money that they simply prohibited the trading and possession of gold. Happened to be the case in the USin the first half and the middle of the past century, happened to have taken place in Germany until the mid-30s of the last century. The police raided homes to search for private stocks of gold!

If the crisis has become worse enoiugh.- You will not be able to trade anything for your stocks or your 500,000,000 thaler-notes - while with gold, silver and jewelry, you will still be able to get somethign for them. These items are labelled a crisis asset because they can hold out for longer than printed notes, stocks, coins (as long as they are not made of gold or silver themselves), and fonds papers. All these valued papers die first. Gold also can die - but it dies last of them all.

Go and find somebody really old who still has memories of the big inflations in Germanyx and America. Maybe then you understand what the difference is between paper, and gold.
__________________
If you feel nuts, consult an expert.
Skybird is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 12:39 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.
Copyright © 1995- 2025 Subsim®
"Subsim" is a registered trademark, all rights reserved.