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Old 07-29-2011, 10:43 AM  
HonestChieffan HonestChieffan is online now
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ObamaNomics FAIL: Q2 GDP Comes In At Only 1.3%, Q1 Revised Down To A Scant 0.4%…

Fail at every level.


WASHINGTON (AP) — The economy expanded at meager 1.3 percent annual rate in the spring after scarcely growing at all in the first three months of the year, the Commerce Department said Friday.

The combined growth for the first six months of the year was the weakest since the recession ended two years ago. The government revised the January-March figures to show just 0.4 percent growth — down sharply from its previous estimate of 1.9 percent.

“These numbers are extremely bad,” said Nigel Gault, an economist at IHS Global Insight. “The momentum in the economy is clearly very weak.”

The sharp slowdown means the economy will likely grow this year at a weaker pace than last year. Economists don’t expect growth to pick up enough in the second half of the year to lower the unemployment rate, which rose to 9.2 percent last month.
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Old 12-01-2011, 06:00 PM   #46
Hasty Puddings Hasty Puddings is offline
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the government’s monetary and fiscal authorities are currently engaged in the expropriation of private wealth on a vast scale. Entire classes of investors—especially people who saved during their working years and expected to live on interest earnings on their accumulated capital during their retirement years—are being steadily wiped out. Astonishingly, this de facto robbery is being committed by a government that misses no opportunity to shed crocodile tears over how single-mindedly it seeks to protect the weak and helpless among us.

http://blog.independent.org/2011/11/...-a-rapid-rate/
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Old 12-01-2011, 06:25 PM   #47
whosyou whosyou is offline
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Wrong thread

Last edited by whosyou; 12-01-2011 at 10:27 PM..
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Old 12-02-2011, 03:57 PM   #48
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Old 05-29-2013, 09:34 AM   #49
Comrade Crapski Comrade Crapski is offline
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The U.S dollar is shrinking as a percentage of the world's currency supply, raising concerns that the greenback is about to see its long run as the world's premier denomination come to an end.

When compared to its peers, the dollar has drifted to a 15-year low, according to the International Monetary Fund, indicating that more countries are willing to use other currencies to do business.

While the American currency still reigns supreme -- it constitutes $3.72 trillion, or 62 percent, of the $6 trillion in allocated foreign exchange holdings by the world's central banks -- the Japanese yen, Swiss franc and what the IMF classifies as "other currencies" such as the Chinese yuan are gaining.

(Read More: Hedge Funds Reap Billions on Yen Bets)

"Generally speaking, it is not believed by the vast majority that the American dollar will be overthrown," Dick Bove, vice president of equity research at Rafferty Capital Markets, said in a note. "But it will be, and this defrocking may occur in as short a period as five to 10 years."

Bove uses several metrics to make his point, focusing on the dollar as a percentage of total world money supply.That total has plunged from nearly 90 percent in 1952 to closer to 15 percent now. He also notes that the Chinese yuan, the yen and the euro each have a greater share of that total.

"To the degree that China succeeds in increasing its market share of the world's currency market, the United States is the loser," Bove said. "For years, I have been arguing that the move of the Chinese makes perfect sense from their point-of-view but no sense for the Americans."

http://www.cnbc.com/id/100461159
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