Future One Currency(Money) - Uhoh

What can we say?

SRC = http://www.financialsense.com/fsu/editorials/vaughn/2008/1014.html

You surely didn’t write that all yourself. :stuck_out_tongue:

Regardless of what currency is in use, the US Government needs to enforce accountability and consistency in accounting standards. Currently US entities use either American accounting standards or international accounting standards, depending upon the type of transaction or whether one method produces a more favourable result than the other.

Hopefully, the US will recognise that IFRS (International Financial Reporting Standards), as used throughout most of the world, while more restrictive and rigid, provide a consistent platform for reliable reporting.

The use of dual or conflicting reporting standards is merely a case of the Emporers New Clothes.

Ewen :slight_smile:

Well, the Great Depression (1929 to 1940s can be debatable when it ended) was ironed out by FDR’s New Deal (1933-1939 (stopped in 1939 in favor of giving arms to Britain)), World War II (1939-1945) and the Marshall plan (1947). US got poorer by fighting in the Middle East (2003) (practicing the stupid Roman tactics of “Defensive Aggression” where you are intiminated by something and start to attack it).

Obama + reforms, anyone?

LOL, can someone beat me in History LOL.???

Oops, abit !ot! lol, but thank me for giving you a small history lecture.

The Democratic “change” maybe helped this problem. Democrats like the government to take control of more things, and that of course costs money, which certainly helps the national debt. And now letting people borrow money and get mortgages easier? :-\ Then they think that they have to step in and save the mortgage companies and banks when people can’t pay them back, which brings us back to that national debt thing again…

I could go on and on and on, but I don’t feel like it now.

Note: I have stated some facts, and have not given my opinions about it.

America in recession. :frowning: Ewen I wonder if it will ever happen to Australia?


Probably, but Australia is very well placed to recover a lot quicker than most other countries - rigid accounting standards, abundance of natural resources, stable government, stable trading partners.

Ewen :slight_smile:

Allegedly where heading for a Global recession(recession being judged as 2 quarters of negative growth) the thing that really gets under my skin is that most of the chumps who sent the markets/housing/inflation,etc to ridiculous levels with there short selling,cdfs and general market manipulation(i mean come on,how can crude oil go from $140 a barrel to around $40 in such a short space of time,we cant be using that much less!) these people have made a killing lining there pockets and now it`s left up to governments to sort the mess out by borrowing more and more.

Who lends the various governments all this dosh? Great Britain–debt level around 40% of GDP($1 trillion),Italy over $1.3 trillion,American debt is counted on a clock situated in times square,it recently had to have an extra digit put on because it passed $10 trillion ???

There are countries,Australia is a great example who will fair better than others as they don`t rely on just a few sectors for most of there income and still have untaped natural resources.Some are just in the sh…!!!

The thing is,in 5 years time it will all be resigned to history and the cycle will start again,until the next time 88)


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I think I’ll move to Australia. Bye! (:WAV)

You prob won’t last with me around lol

I bet it will be the other way around. With a super alien dat ain’t able to follow no foruummmm policyyy, yo’re likely to pick up some trouble.

If you have no skill in Martial Arts, Or don’t have any basic knowledge of sparing, You’re dead. :wink: My power is 10x more effective off line then online, put it that way!


Gets laser gun

Money = Debt
Yep, that’s how “new” money is created .
Ever wondered how billions of “ordinary” people have been working for millennia,
creating “wealth” & “growth”, yet we all “owe” trillions to… WHO exactly is it we “owe” the money ?