[Jack]

$this->bbcode_second_pass_quote('master_rb', 'i') base my opinion on visiting this site often, i see a lot of problems with people posting in "wrong" places because of not relating to PO, from what i've observed economics is a huge part of PO and can't be left in open forum, it's just too imporant, either get rid of the constraint on economics forum or create a new forum for non-PO related economic discussion

[MonteQuest]

$this->bbcode_second_pass_quote('master_rb', 'w')hat i've observed economics is a huge part of PO and can't be left in open forum, it's just too imporant, either get rid of the constraint on economics forum or create a new forum for non-PO related economic discussion

[MonteQuest]

$this->bbcode_second_pass_quote('master_rb', 'M')onteQuest

in my opinion people who come to this site are well educated and have broad interests - not just PO,

[MonteQuest]

$this->bbcode_second_pass_quote('Jack', 'A')s for the prime drivers - the U.S. economy is poorly managed. We have large trade deficits, a chronic budget deficit, and few real prospects of changing those realities. We have, to date, subsidized lifestyle with borrowed money. This can lead to nothing but debasement of the currency; which creates incentive to disinvest in dollar denominated assets.

[master_rb]

MonteQuest, Jack

i understand your point, it's a matter of preference, some people like to have things more strict some like it more open, that's all

if you insist on keeping it the way it is, it's fine with me, strongly PO-centric or loosley PO-centric this site will be a good place for information and interaction either way

[max_power29]

$this->bbcode_second_pass_quote('MonteQuest', '
')Well, can you make the case that it is due to hydrocarbon depletion?

If not, then why did you post it here?

[max_power29]

$this->bbcode_second_pass_quote('Eli', 'A')nd I will admit I am wrong about money=oil if you can prove that the world economy is not dependent on cheap and available oil.

[max_power29]

$this->bbcode_second_pass_quote('master_rb', 'M')onteQuest

in my opinion people who come to this site are well educated and have broad interests - not just PO, whenever i see a discussion about dollar, debt, subprime problems, housing, greenspan etc... i see huge number of posts sometimes more than news directly related to PO like new oil field discoveries, the only PO news that have more responses than economic ones are decline rates coming from Mexico or SA

i base my opinion on visiting this site often, i see a lot of problems with people posting in "wrong" places because of not relating to PO, from what i've observed economics is a huge part of PO and can't be left in open forum, it's just too imporant, either get rid of the constraint on economics forum or create a new forum for non-PO related economic discussion

if it was me, i would put all the economic topics in one forum just to keep things together and avoid problems with moving the topics, this is just my opinion

[MonteQuest]

$this->bbcode_second_pass_quote('max_power29', '')$this->bbcode_second_pass_quote('MonteQuest', '
')Well, can you make the case that it is due to hydrocarbon depletion?

If not, then why did you post it here?

[KevO]

$this->bbcode_second_pass_quote('', ' ')As central banks continue to splash their cash over the system, so far to little effect, Ambrose Evans-Pritchard argues that things risk spiralling out of their control

Twenty billion dollars here, $20bn there, and a lush half-trillion from the European Central Bank at give-away rates for Christmas. Buckets of liquidity are being splashed over the North Atlantic banking system, so far with meagre or fleeting effects.

As the credit paralysis stretches through its fifth month, a chorus of economists has begun to warn that the world's central banks are fighting the wrong war, and perhaps risk a policy error of epochal proportions.

York professor Peter Spencer, chief economist for the ITEM Club, says the global authorities have just weeks to get this right, or trigger disaster.
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"The central banks are rapidly losing control. By not cutting interest rates nearly far enough or fast enough, they are allowing the money markets to dictate policy. We are long past worrying about moral hazard," he says.

"They still have another couple of months before this starts imploding. Things are very unstable and can move incredibly fast. I don't think the central banks are going to make a major policy error, but if they do, this could make 1929 look like a walk in the park," he adds.

[Sys1]

Great article (i love doom articles), but i think it has already been post

[KevO]

$this->bbcode_second_pass_quote('Sys1', 'G')reat article (i love doom articles), but i think it has already been post

[steam_cannon]

$this->bbcode_second_pass_quote('KevO', '')$this->bbcode_second_pass_quote('Sys1', '.')..but i think it has already been post

[Kingcoal]

"exigent circumstances" "denouement"

I love it, I'm going to use these terms when the bank calls.

[charliebrownout]

It will be more like 1873.

Link found on Ron Paul's Campaign for Liberty.

[MarkL]

An interesting read. Thanks for posting it.

[ubercrap]

Great info!

[sittinguy]

Even with high gas prices and food prices people are getting along OK for now. Everyone I know still has 150 channels on TV, high speed internet, pool pump running, luxury food items, A/C on 74 degrees. And all people had to do was give up a hobby or cut back on them.

So things are going to have to WAY more expensive to REALLY get attention with action required. Rite now it just gets your attention.

My personal theory is people living within their means, even if its paycheck to paycheck, will do OK

People that NEED to use a credit card every month to make it to the next check,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,ARE SCREWED

but what do I know

[Delphis]

Great read CBO!

[JJ]

I was sacking groceries yesterday, and a guy and his other half came through the line with two shopping carts full of VERY high end groceries...he said he just lost 70K on the S&P. Wonder if he paid cash for the groceries? didn't notice.....