Only Criminals Use Honest Money

[mRx 16]

Nothing. Recessions are cyclical and this one will be over before you know it.

i hope you are right, MaWilson...

There's stuff i was planning on doing and it didn't include getting a fancy degree just to be poor, tired, and broken-down.

Write your congressman or State representative--Tell them you're tired of them stealing your wealth.

[mawilson 2,133]

Nothing. Recessions are cyclical and this one will be over before you know it.

i hope you are right, MaWilson...

There's stuff i was planning on doing and it didn't include getting a fancy degree just to be poor, tired, and broken-down.

Write your congressman or State representative--Tell them you're tired of them stealing your wealth.

The Federal Reserve Bank doesn't need congressional approval to devalue your wealth, so your Congressman can do very little about it.

[Heracles 417]

Matt I noticed my properties in Aus rose in value again. Heck the median price is now $412K in Sydney. Such a high median for a city of 4 million is not too shabby hey.

Their social capitalist approach doesn't seem to be working out too bad for them there.

[mawilson 2,133]

Matt I noticed my properties in Aus rose in value again. Heck the median price is now $412K in Sydney. Such a high median for a city of 4 million is not too shabby hey.

AUD $412K is what, about $330K USD?

Check out

http://www.trulia.com/home_prices/New_York..._York-heat_map/

In NYC, the median sales price is about $1M.

Not that it's a useful indicator of anything.

[Heracles 417]

Matt I noticed my properties in Aus rose in value again. Heck the median price is now $412K in Sydney. Such a high median for a city of 4 million is not too shabby hey.

AUD $412K is what, about $330K USD?

Check out

http://www.trulia.com/home_prices/New_York..._York-heat_map/

In NYC, the median sales price is about $1M.

Not that it's a useful indicator of anything.

Nah that figure is already in USD. The house prices are way over $520K AUD.

You also have to keep in mind that we are talking about the entire boundary of Sydney. Manhattan is an isolated area. It would be like picking Mosman in Sydney, where the median is $1.9 million.

[mawilson 2,133]

Matt I noticed my properties in Aus rose in value again. Heck the median price is now $412K in Sydney. Such a high median for a city of 4 million is not too shabby hey.

AUD $412K is what, about $330K USD?

Check out

http://www.trulia.com/home_prices/New_York..._York-heat_map/

In NYC, the median sales price is about $1M.

Not that it's a useful indicator of anything.

Nah that figure is already in USD. The house prices are way over $520K AUD.

You also have to keep in mind that we are talking about the entire boundary of Sydney. Manhattan is an isolated area. It would be like picking Mosman in Sydney, where the median is $1.9 million.

Ok. Well, take a look around - you'll find that home prices in most US cities are quite high.

[mRx 16]

Matt I noticed my properties in Aus rose in value again. Heck the median price is now $412K in Sydney. Such a high median for a city of 4 million is not too shabby hey.

AUD $412K is what, about $330K USD?

Check out

http://www.trulia.com/home_prices/New_York..._York-heat_map/

In NYC, the median sales price is about $1M.

Not that it's a useful indicator of anything.

Nah that figure is already in USD. The house prices are way over $520K AUD.

You also have to keep in mind that we are talking about the entire boundary of Sydney. Manhattan is an isolated area. It would be like picking Mosman in Sydney, where the median is $1.9 million.

Ok. Well, take a look around - you'll find that home prices in most US cities are quite high.

The recession is far from reaching it's trough. Home prices have not reached their bottom. Stabilizing home prices by pushing the funds rate lower can only be maintained for so long. The Fed knows this. I don't think they're as wreckless and irresponsible as to allow the US to reach hyperinflation levels in order to reflate the bubble. Eventually, the rate will have to be raised. And the markets will plummet further.

Constellation, I'm not sure how you correalate inflated property prices with prosperity. Low prices are indications of strong purchasing power in a currency. High prices are signs of illusory prosperity.

Australia has yet to reach it's trough also. MFG industry has been hit, and that's usually the first sign.

[Peikko 1,575]

Are you somehow suggesting that we can do away with the symbolic representation of worth just because it has a fixed value and is therefore not exact?

What do you propose to use for the symbolic value and how do you propose to value its changing worth?

For example:

We currently use money to symbolize the value of a weeks work. What do you want us to have at the end of the work period instead of money? Perhaps a sheep? A cow?

For all its faults, and I don't think there are none, but the barter system was replaced for a reason. You know that, right?

[mRx 16]

Why do you perform a weeks work for those green pieces of paper? I assure you it's not because it symbolizes the value of a weeks work--for if it did, you would hang them on the wall in your study.

We have evolved past the primitive days of barter and indirect exchange. They led us ultimately to a handful of goods that were widely accepted as valuable, divisible, homogeneous, and easily measurable.

The dollar we currently have is not one of these goods.

If you have further interest in what purpose money serves in an economy, I can happily point you to some free literature available online.

Edited June 4, 2009 by -Matt-

[w¡n9Nµ7 §£@¥€r 123]

... if it did, you would hang them on the wall in your study.

I would? why???

[Trumplestiltskin 5,791]

What is the alternative?

Some measure of value needs to be placed on the worth of a job - why the work of a doctor is more valuable than the work of a garbageman.

That's more or less what was wrong with communism.

Perhaps you can only have a certain size television or drive a certain type of car if your job is mentioned on some proscribed list.

Edited June 4, 2009 by Private Pike

[Peikko 1,575]

Which again, is all fine and dandy. I have never been mesmerized by pieces of paper (or my plastic card). However, they are easy to carry around and can be transferred to others for things that I either need or want. What then is the external equivalent of the 'cigarette'? Because, in prison, that is the barter system at work.

[mRx 16]

... if it did, you would hang them on the wall in your study.

I would? why???

So your friend Marc doesn't think you're a deadbeat Welfare lovin' puzzy.

[w¡n9Nµ7 §£@¥€r 123]

... if it did, you would hang them on the wall in your study.

I would? why???

So your friend Marc doesn't think you're a deadbeat Welfare lovin' puzzy.

But I am!

[Peikko 1,575]

I'll give credit where it is due, the author has managed to convince at least some of his readers that being in prison is the smart choice