Wimpy
Member
imported post
I think some of the difference in our economic outlook may be attributed to our age or the generation we grew up in. You were born in the late 70s and I was born in the early 50s. That doesn’t completely explain the differences in our outlook as there are many in my generation with an outlook similar to yours. Some children growing up within the same family unit take on more of their parental generational traits and/or quirks than their siblings, so there can sometimes be a bleeding over or overlap of values from one generation to another and the generational distinction less finite. In other cases, however, the generational distinctions are quite clear, especially when viewed from a macro perspective. There is very little distinction between my values and the values my parents had. We were very close. They lived through the depression and valued hard work and[/b] savings[/i]. That doesn’t necessarily mean later generations don’t have a work ethic and are spendthrifts, but it certainly, relatively speaking, colors our outlook somewhat and our savings and investment decisions. And I think the current negative savings rate generally supports that viewpoint.
Although, savings is very important to me, my outlook on what to save[/i] differs from many of those in my parent’s generation. In my parent’s generation the dollar was KING. My parent’s generation had not experienced the erosion of value of the currency during their formative years and was somewhat surprised when they took their early retirements thinking their $250,000 in CDs would carry them through their twilight years in Sun City. Most of them had to go back to work to make ends meet. Inflation kind of snuck up on them because they were not paying attention to monetary policy changes taking place. Since 1913, with the formation of the Federal Reserve, monetary changes have become increasingly intrusive on our pocketbooks and few are paying attention.
The FED doing away with the reporting of M3 is a perfect example. The mainstream press totally blew it off as insignificant, but international financiers and central banks took notice. Not only did they take notice, but they took action. Normally, short term fluctuations between gold and the dollar share an inverse relationship. When gold is up the dollar is down and vice versa. Recently, however, gold and the dollar have been going up together and we’ve also seen where the I-Fund hasn’t followed its traditional pattern in relation to the dollar. The recent run-up in gold is the international smart money community voting with their financial feet and saying with one loud voice, “If you are going to play games with your currency and keep those games hidden from public view, we will choose to place our confidence in something more tangible and they are buying gold. The dollar will turn back down and continue its descent with a vengeance. The hiding of the M3 is as comparable to Nixon closing the gold window in 1971 as to the effects it will have on gold/dollar relationship. The hiding of the M3 is a Weimar Republic style move that could very well lead to hyperinflation and the removal of the U.S. dollar as the world’s reserve currency. It may not even survive as a currency at all. You can’t have honest weights and measures by removing the numbers from the scale. Eliminating M3 removes our ability to view how fast the money supply is increasing. I would surmise that the FED is preparing to pump massive amounts of liquidity into the system and they don’t want their actions to be scrutinized. Typically, as in most government actions, the outcome will be what they least desire.
There is only one thing backing the U.S. dollar and that is confidence. The U.S. dollar is a con-fidence game. With the removal of M3, a bit of that con-fidence was lost. How much con-fidence was lost? Watch gold…it IS telling the story.
Much like face lifts and boob jobs are a desperate and vain attempt to defy reality and gravitational forces, discontinuance of M3 reporting is a desperate and vain attempt to dishonestly remove natural gravitational forces from the financial equation.
If you think it works, go to Aspen and watch those old hags get off their leased jets in their fur coats with their hair pulled back in a bun so tight they can’t even blink their eyes. It will provide hours of amusement and entertainment.
On the other hand, if the lights were turned down a bit and after a few drinks…hey, who knows? That is what the FED is counting on with their manipulations. They are hoping if the lights are turned down a bit…that old hag they are trying to pimp will produce some revenue especially if they can get their financial news media buddies to serve the Johns some intoxicating news that will dull their wits a bit.
It doesn’t take much to impress John and JoeSixPack…the glitter, glamour, and speculative heat of scoring big time with this doll-ar is just too much for the average John and Joe to resist and their wallets sitting on the night stand will get emptied as they drift off in the ‘afterglow’ of a ‘gotta have it now’ evening of good times. The awakening will be a rude one, however, as they look over and see the sun shining through the window illuminating the doll-ar they are sharing more than space with. The sick and repugnant nature of the heated affair will conjure up images of a raccoon using his teeth to dismember himself to be free from the jaws of a steel trap. The Johns will vainly attempt to flee from clutches of this doll-ar, but the true hag underneath the face lift and boob job will force herself on this John with all the ferocity and tenaciousness of a woman about to be jilted. Poor John and Joe might as well put on their victim faces right now…they haven’t a chance.
The old farts who got left sitting at the bar while the young bucks walked out with their fur wrapped trophy doll-ars, are quietly smiling to themselves as they get up and head on home with their money safely tucked away for a rainy day.
But while that may generally be true, sad to say, there are still old farts out there who don’t know they are old farts and pretend to be young bucks…you know the 50-60 year old guywearingthe gold chains and medallions around their necks doing the comb over and driving Vettes who ought to be mature enough see through the folly of face lifts, boob jobs, and fur coats, but for some reason can’t pull themselves out of the quicksand of denial.They gotta alotta horsepower, but no traction.
The young bucks have one up on the foolish old fart doing the comb over and driving the Vette. They (the young bucks) have time on their side and can recoup. The foolish old fart is toast.
I think some of the difference in our economic outlook may be attributed to our age or the generation we grew up in. You were born in the late 70s and I was born in the early 50s. That doesn’t completely explain the differences in our outlook as there are many in my generation with an outlook similar to yours. Some children growing up within the same family unit take on more of their parental generational traits and/or quirks than their siblings, so there can sometimes be a bleeding over or overlap of values from one generation to another and the generational distinction less finite. In other cases, however, the generational distinctions are quite clear, especially when viewed from a macro perspective. There is very little distinction between my values and the values my parents had. We were very close. They lived through the depression and valued hard work and[/b] savings[/i]. That doesn’t necessarily mean later generations don’t have a work ethic and are spendthrifts, but it certainly, relatively speaking, colors our outlook somewhat and our savings and investment decisions. And I think the current negative savings rate generally supports that viewpoint.
Although, savings is very important to me, my outlook on what to save[/i] differs from many of those in my parent’s generation. In my parent’s generation the dollar was KING. My parent’s generation had not experienced the erosion of value of the currency during their formative years and was somewhat surprised when they took their early retirements thinking their $250,000 in CDs would carry them through their twilight years in Sun City. Most of them had to go back to work to make ends meet. Inflation kind of snuck up on them because they were not paying attention to monetary policy changes taking place. Since 1913, with the formation of the Federal Reserve, monetary changes have become increasingly intrusive on our pocketbooks and few are paying attention.
The FED doing away with the reporting of M3 is a perfect example. The mainstream press totally blew it off as insignificant, but international financiers and central banks took notice. Not only did they take notice, but they took action. Normally, short term fluctuations between gold and the dollar share an inverse relationship. When gold is up the dollar is down and vice versa. Recently, however, gold and the dollar have been going up together and we’ve also seen where the I-Fund hasn’t followed its traditional pattern in relation to the dollar. The recent run-up in gold is the international smart money community voting with their financial feet and saying with one loud voice, “If you are going to play games with your currency and keep those games hidden from public view, we will choose to place our confidence in something more tangible and they are buying gold. The dollar will turn back down and continue its descent with a vengeance. The hiding of the M3 is as comparable to Nixon closing the gold window in 1971 as to the effects it will have on gold/dollar relationship. The hiding of the M3 is a Weimar Republic style move that could very well lead to hyperinflation and the removal of the U.S. dollar as the world’s reserve currency. It may not even survive as a currency at all. You can’t have honest weights and measures by removing the numbers from the scale. Eliminating M3 removes our ability to view how fast the money supply is increasing. I would surmise that the FED is preparing to pump massive amounts of liquidity into the system and they don’t want their actions to be scrutinized. Typically, as in most government actions, the outcome will be what they least desire.
There is only one thing backing the U.S. dollar and that is confidence. The U.S. dollar is a con-fidence game. With the removal of M3, a bit of that con-fidence was lost. How much con-fidence was lost? Watch gold…it IS telling the story.
Much like face lifts and boob jobs are a desperate and vain attempt to defy reality and gravitational forces, discontinuance of M3 reporting is a desperate and vain attempt to dishonestly remove natural gravitational forces from the financial equation.
If you think it works, go to Aspen and watch those old hags get off their leased jets in their fur coats with their hair pulled back in a bun so tight they can’t even blink their eyes. It will provide hours of amusement and entertainment.
On the other hand, if the lights were turned down a bit and after a few drinks…hey, who knows? That is what the FED is counting on with their manipulations. They are hoping if the lights are turned down a bit…that old hag they are trying to pimp will produce some revenue especially if they can get their financial news media buddies to serve the Johns some intoxicating news that will dull their wits a bit.
It doesn’t take much to impress John and JoeSixPack…the glitter, glamour, and speculative heat of scoring big time with this doll-ar is just too much for the average John and Joe to resist and their wallets sitting on the night stand will get emptied as they drift off in the ‘afterglow’ of a ‘gotta have it now’ evening of good times. The awakening will be a rude one, however, as they look over and see the sun shining through the window illuminating the doll-ar they are sharing more than space with. The sick and repugnant nature of the heated affair will conjure up images of a raccoon using his teeth to dismember himself to be free from the jaws of a steel trap. The Johns will vainly attempt to flee from clutches of this doll-ar, but the true hag underneath the face lift and boob job will force herself on this John with all the ferocity and tenaciousness of a woman about to be jilted. Poor John and Joe might as well put on their victim faces right now…they haven’t a chance.
The old farts who got left sitting at the bar while the young bucks walked out with their fur wrapped trophy doll-ars, are quietly smiling to themselves as they get up and head on home with their money safely tucked away for a rainy day.
But while that may generally be true, sad to say, there are still old farts out there who don’t know they are old farts and pretend to be young bucks…you know the 50-60 year old guywearingthe gold chains and medallions around their necks doing the comb over and driving Vettes who ought to be mature enough see through the folly of face lifts, boob jobs, and fur coats, but for some reason can’t pull themselves out of the quicksand of denial.They gotta alotta horsepower, but no traction.
The young bucks have one up on the foolish old fart doing the comb over and driving the Vette. They (the young bucks) have time on their side and can recoup. The foolish old fart is toast.
Spaf
