Corvus: It's almost like when the US moved away from having each state having a separate currency. Seems it worked for us in the long run.

You can't have commerce easily from state to state if the currency is different. That is the problem the US had and the problem the EU had.

Did each state have its own stock exchange too?

The United States' states exist in an odd hybrid, half-sovereign and half-dependent. However sovereign the states are, since the U.S. is one country, it makes sense to have a common currency within its borders. Maybe it didn't back around the Revolution, but it does now.

A better analogy would probably be the North American Union the right-wingers often dredge up whenever the talking points aren't e-mailed out in time for Limbaugh. Or if every province in France had its own currency.

Besides, in the Internet age, do we really need to worry a whole lot on the inability to move money from one currency to another?

You make valid points, I'm just trying to offer my opinion. Of course, this is Fark, so I should just get over it.

So the Irish people I know won't be flying to New York to shop anymore because "it's so cheap"?

GaryPDX: whoa..two personal attacks in a row...lol. Fishing is good.

Right. "Snark". I forgot.

ghare: Some people just enjoy making others upset.

I told you guys the liberals would crash the planet. I'm not happy about it. But ohhh nooo..many of you called me ..insane..yea that's it.

ParallelUniverseParking: How do you explain this then: if the US economy tanks it affects a whole lot of countries independent from their currency.

I never denied that the US is a large domino, for better and for worse. It's bad enough with one, I feel. Why add another right now?

GaryPDX: would

Really, Gary? Just the liberals? The conservatives were blameless?

Hetfield 2009-06-30 05:35:20 PM
GaryPDX: Won't be long now.

"You've made so many predictions, Gary, and none of them came true. None. Not a single one.
How come you're not embarrassed to continue on that path, Gary? I'm really curious. What is the source of your self-confidence in matters of politics?"

You beat me by 11 seconds.

At any rate, I think I have an answer for your question: Cornell University's psychology department did a study a while ago entitled "Unskilled and Unaware of It: How Difficulties in Recognizing One's Own Incompetence Lead to Inflated Self-Assessments (new window)" which I think answers your question WRT Gary's near limitless hubris.

GaryPDX: ghare: Some people just enjoy making others upset.

I told you guys the liberals would crash the planet. I'm not happy about it. But ohhh nooo..many of you called me ..insane..yea that's it.

Too bad that there are not really many liberals in charge in Europe right now.

YixilTesiphon: GaryPDX: would

Really, Gary? Just the liberals? The conservatives were blameless?

nah the conservatives were just trolling for LULZ...
the libtards took the bait..


//hot

Europe needs a new Obama Hitler.

Perhaps they should have spend more on stimulus like the good ol' US of A, no?

Funk Brothers: Europe needs a new Obama Hitler.

nah the jews are in Middle east now..
and we already had a new hitler.. his name was Osama err.. Saddam ahh... Ahmadinejad

BergZ: At any rate, I think I have an answer for your question: Cornell University's psychology department did a study a while ago entitled "Unskilled and Unaware of It: How Difficulties in Recognizing One's Own Incompetence Lead to Inflated Self-Assessments (new window)" which I think answers your question WRT Gary's near limitless hubris.

Someone posted a photo of him awhile ago. I don't want to sound superficial, but that answered quite a few questions. What I don't understand, and probably never will, is why so many working class people are such hardcore Republicans.

Hetfield: BergZ: At any rate, I think I have an answer for your question: Cornell University's psychology department did a study a while ago entitled "Unskilled and Unaware of It: How Difficulties in Recognizing One's Own Incompetence Lead to Inflated Self-Assessments (new window)" which I think answers your question WRT Gary's near limitless hubris.

Someone posted a photo of him awhile ago. I don't want to sound superficial, but that answered quite a few questions. What I don't understand, and probably never will, is why so many working class people are such hardcore Republicans.

Bullshiat! Link! Link!

bartink: Perhaps they should have spend more on stimulus like the good ol' US of A, no?

I'll take inflation over deflation every day of the week.

GaryPDX: ghare: Some people just enjoy making others upset.

I told you guys the liberals would crash the planet. I'm not happy about it. But ohhh nooo..many of you called me ..insane..yea that's it.

Because, of course, if the economy tanks, it's always attributable to ONE SINGLE CAUSE, right, Gary? Just like war, peace, invention, and discovery. Yep, just ONE SINGLE CAUSE led to some of the most amazing events in world history.

You need to get out more.

adamgreeney: Bullshiat! Link! Link!

I didn't save it.

Hetfield: What I don't understand, and probably never will, is why so many working class people are such hardcore Republicans.

In their fantasy, they are one day going to be stinkng rich, because they are honest (they are not), they work hard (at unrewarding dead end jobs) and know that they too will achieve the American dream (not available in Appalachia). In this fantasy, the government ruins it all by taxing away their fortunes and giving it to gay atheist activist vegetarian judges driving hybrid cars that make laws that take away their freedom and liberty.

I'm glad that I could clear that up for you.

I was in the pool!

Technoblake: Hetfield: What I don't understand, and probably never will, is why so many working class people are such hardcore Republicans.

In their fantasy, they are one day going to be stinkng rich, because they are honest (they are not), they work hard (at unrewarding dead end jobs) and know that they too will achieve the American dream (not available in Appalachia). In this fantasy, the government ruins it all by taxing away their fortunes and giving it to gay atheist activist vegetarian judges driving hybrid cars that make laws that take away their freedom and liberty.

I'm glad that I could clear that up for you.

Wow, genius capsule of working class Republicana. I'm going to save that, if that's okay by you. Except, you need to put "liberal" in by government; and add that when a Republican is president, he can never make the fantasy come true because of sekrit libruls in Congress.

Hetfield: GaryPDX: Won't be long now.

You've made so many predictions, Gary, and none of them came true. None. Not a single one.

Would someone please show Gary his "statisicals" again? Or else kick him in the,

Them. Kick him in THEM!

(damn comma key!)

Technoblake

It's easier than that. You have to convince the middle class that it is the upper class, the lower class that it is the middle class, and that each needs to be protected from the others.

Doctor Funkenstein: All those peons from the left banks and right banks can lick my golden emblazoned taint, because I rock the central bank like Sinatra rocked crotches.

Also,

Doctor Funkenstein: I'm a foppish dandy who wears a funny little hat when I go to the market.


Thanks.

Technoblake: In their fantasy, they are one day going to be stinkng rich, because they are honest (they are not), they work hard (at unrewarding dead end jobs) and know that they too will achieve the American dream (not available in Appalachia). In this fantasy, the government ruins it all by taxing away their fortunes and giving it to gay atheist activist vegetarian judges driving hybrid cars that make laws that take away their freedom and liberty.

I suspect it rather has something to do with their love for authority and affinity to submission, which is also why the GOP is the preferred party for fundamentalists.

Inflation is bad, and now deflation is bad too?

Geez.. what's good?

Baby Diego: It's easier than that. You have to convince the middle class that it is the upper class, the lower class that it is the middle class, and that each needs to be protected from the others.

You can also add illegal immigrants to the list of faux villains...but I didn't want to start a flame war.

If it helps at all, I'm not sure why working class folks follow the Dems either.

Technoblake: If it helps at all, I'm not sure why working class folks follow the Dems either.

Cause when one of your parents beats you and the other rapes you, you want to live with the one that beats you.

Damn GaryGaryPDX: whoa..two personal attacks in a row...lol. Fishing is good.

Damn Gary, reeling 'em in

Angry Drunk Bureaucrat: So this *is* the Final Countdown after all.fark this, i'm heading to venus

Resin33: Inflation is bad, and now deflation is bad too?

Geez.. what's good?

This was my thought, too. Apparently "flation" is what we need, but no one knows how to achieve flation.

Dwight_Yeast: Cause when one of your parents beats you and the other rapes you, you want to live with the one that beats you.

Yeah. I guess that would be the case.

GaryPDX: ghare: Some people just enjoy making others upset.

I told you guys the liberals would crash the planet. I'm not happy about it. But ohhh nooo..many of you called me ..insane..yea that's it.

Dwight_Yeast: Cause when one of your parents beats you and the other rapes you, you want to live with the one that beats you.

You only said "Rape" once.

Deflatiion may very well reduce the "worth" of a single unit of currency, but assuming prices follow suit, it actually increases your purchasing power. It can actually be a good thing, raising the value of a nations currency in comparison to others.

Take for example the United States Dollar. It has inflated over time, at a faster rate than other nations, and now is more worthless in comparison because there is more of it available.

Certainly there are more complicated factors involved, but this is a very simplistic look at the system.

thirdspade: Deflatiion may very well reduce the "worth" of a single unit of currency, but assuming prices follow suit, it actually increases your purchasing power. It can actually be a good thing, raising the value of a nations currency in comparison to others.

Take for example the United States Dollar. It has inflated over time, at a faster rate than other nations, and now is more worthless in comparison because there is more of it available.

Certainly there are more complicated factors involved, but this is a very simplistic look at the system.

Really? You sure the dollar is losing power to other currencies lately?

Resin33: Inflation is bad, and now deflation is bad too?

Geez.. what's good?

Think of it as a nuclear reaction. You want it to be at a stable balance. If it begins to grow you have a nuclear meltdown and disaster. If it slows it stops altogether and you have critical failure. You want the currency to hold a relative stability with it's purchasing power. Keynesians seem to try and game the system with inflation though. Non-Keynesians tend to think this is dangerously foolish.

relaxitsjustme: At least it will stop the hyperinflation histrionics for a while

Europe and America may have an affect on each other, they're not the same country nor do they share the same currency.

bartink:
Really? You sure the dollar is losing power to other currencies lately?

Pretty sure, yeah. I don't follow the exchange rates between countries, but pre-economic collapse, the Euro and Pound were surpassing the dollar significantly because the dollar was inflating at a higher rate.

That is all.

thirdspade: Pretty sure, yeah. I don't follow the exchange rates between countries, but pre-economic collapse, the Euro and Pound were surpassing the dollar significantly because the dollar was inflating at a higher rate.

And the dollar came roaring back once the collapse began.

I don't think you will find any, certainly not many, economists who would prefer deflation.

bartink: I don't think you will find any, certainly not many, economists who would prefer deflation.

Which is why I was cracking jokes about Ron Paul and the gold standard. Why would you ever think it's a good idea to stagnate the money supply when you have a growing population?

Subby is experience fail.

Where you at Merkle? Lead your damn continent.

bartink:
And the dollar came roaring back once the collapse began.

I don't think you will find any, certainly not many, economists who would prefer deflation.

I don't think you will find any, certainly not many, economists who even have any farking clue how the economy works. In light of our current predicament, I'd say a degree in economics is about as useful as a degree in philosophy. Which is to say, not very.

B-b-but hyper-inflation! Spending bad!

The article said some nations will NEVER recover???

Geez, both Japan and Germany were bombed the hell out of,
taken over, etc....look where they are now.

With some effort, intelligence and innovation,
any nation will recover from fiascos with some time.

We're not talking about invasions or disappearing countries,
its a bit of economic tripping, not a death-knell.

Stop panicking, start working.
You'd be amazed how much you can do when you get off your arse.

2wolves: Why so tense?

You lost me...

Europe is experience deflation

That's probably because THESE guys are stealing their thunder. (pops)



Angry Drunk Bureaucrat: So this *is* the Final Countdown after all.

I guess there IS no one to blame.