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Detroit Says "Thanks Joe" by Ripping Off Biden

panzerfaust10 Wrote: Sep 04, 2012 7:36 AM
Bernanke said we would not monetize the debt, but that is exactly what we and Europe are trying to do. At the same time, China is running into the same problem the American people are, they are getting junk money to pay off the giant debt the world owes them from China stealing most of the consumer manufacturing. China is ready to crash when it is found out they are cooking the books on the numbers for their economy. China is finding out you must have customers to be an export economy. They will also find out that no matter how you would like the numbers to look, eventually reality takes over.
Joseph64 Wrote: Sep 05, 2012 7:38 AM
This leads to a global inflation as all the countries keep printing more and more money to pay for their import habit and naturally China manipulates their currency to counter the inflation to keep the prices of Chinese made goods artificially low so that manufacturing can never take hold again in the countries they trade with.
Joseph64 Wrote: Sep 05, 2012 7:35 AM
This is why being on a hard currency standard of some kind makes more sense than fiat money. When all nations were on the gold standard, when one country started running low on gold they weren't able to import anymore and had to start exporting to the countries that had the gold. When one nation had too much gold, they had to start importing and give some of that gold back or else their own trade would be hurt by their hoarding of the gold. With the fiat currencies we all use, there is no need to give anything back because you can print as much of it as you want to. There is no need to balance your trade deficits. One country (China) can do all the manufacturing jobs and every other country can simply print the money they need to buy.

It’s a good thing that Joe Biden and Barack Obama saved the car company that saved Detroit.

Some Detroiters were so thankful that they stole some Biden gear that was headed down to the Democrat National Carnival. A U-Haul with Biden’s VP accoutrement was jacked over the weekend from the Westin hotel according to the Secret Service.

“Ed Donovan, a spokesman for the USSS,” reports ABCNews blog The Note “told ABC News the truck carrying equipment was stolen between late Saturday night and early Sunday morning at the Westin Hotel in Detroit. He would not specify what kind of...