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Is this the end of the road for America ?


by origamidon

Question by Danger: Is this the end of the road for America ?
By Ambrose Evans-Pilchard, International Business Editor
Published: 8:52PM BST 15 Jul 2010 for UK-Telegraph
C/P
The euro rocketed to a two-month high of $ 1.29 and sterling jumped two cents to almost $ 1.54 after the Fed confessed that the US economy may not recover for five or six years. Far from winding down emergency stimulus, the bank may need a fresh blast of bond purchases or quantitative easing.

Usually the dollar serves as a safe haven whenever the world takes fright, and there was plenty of sobering news from China and other quarters on Thursday. Not this time. The US itself has become the problem.
“The worm is turning,” said David Bloom, currency chief at HSBC. “We’re in a world of rotating sovereign crises. The market seems to become obsessed with one idea at a time, then violently swings towards another. People thought the euro would break-up. Now we’re moving into a new phase because we’re hearing alarm bells of a US double dip.”

Mr Bloom said a deep change is under way in investor psychology as funds and central banks respond to the blizzard of shocking US data and again focus on the fragility of an economy where public debt is surging towards 100pc of GDP, not helped by the malaise enveloping the Obama White House. “The Europeans have aired their dirty debt in public and taken some measures to address it, whilst the US has not,” he said.

The Fed minutes warned of “significant downside risks” and a possible slide into deflation, an admission that zero interest rates, $ 1.75 trillion of QE, and a fiscal deficit above 10pc of GDP have so far failed to lift the economy out of a structural slump.

“The Committee would need to consider whether further policy stimulus might become appropriate if the outlook were to worsen appreciably,” it said. The economy might not regain its “longer-run path” until 2016.

“The Fed is throwing in the towel,” said Gabriel Stein, of Lombard Street Research. “They are preparing to start QE again. This was predictable because the M3 broad money supply has been contracting for months.”

The Fed minutes amount to a policy thunderbolt, evidence of how quickly the recovery has lost steam. Just weeks ago the Fed was mapping out withdrawal of stimulus.

Goldman Sachs said it expects the euro to rise to $ 1.35 by the end of the year. The yen will appreciate to ¥83, through the pain barrier for most of Japan’s big exporters. The new twist is that SAFE, China’s $ 2.4 trillion fund, has begun buying record amounts of Japanese bonds, a shift in reserve allocation away from the dollar.

The signs of a deep and sudden slowdown in the US are becoming ever clearer as the “sugar rush” from the Obama fiscal stimulus wears off and the inventory boost fades. California, Illinois and other states are cutting spending, tightening US fiscal policy by 0.8pc of GDP.

Thursday’s plunge in the Philadelphia Fed’s July index of new manufacturing orders to –4.3 suggests that the economy may have buckled abruptly, as it did in mid-2008. The Economic Cycle Research Institute’s ECRI leading indicator has tumbled, reaching –8.3pc last week. This points to a sharp slowdown or recession within three months.

While US port data looked buoyant in June, the details were troubling. Outbound traffic from Long Beach fell from 139,000 containers in May to 116,000 in June. Shipments from Los Angeles fell from 161,000 to 155,000. This drop in exports is worsening the US trade deficit, eroding the dollar.

The US workforce has shrunk by a 1m over the past two months as discouraged jobless give up the hunt. Retail sales have fallen for the past two months. New homes sales crashed to 300,000 in May after tax credits ran out, the lowest since records began in 1963. Mortgage applications have fallen by 42pc to 13-year low since April. Paul Dales at Capital Economics said the “shadow inventory” of unsold properties has risen to 7.8m. “The double dip in housing has begun,” he said.

Alcoa, CSX, Intel, and JP Morgan have reported good earnings, but they mostly did so in July 2008 just before their shares collapsed. Such earnings rarely catch turning points and can be a lagging indicator. Profits have been boosted in this cycle by cost-cutting, which is self-defeating for the economy as a whole.

The minutes confirm the Fed is split down the middle over QE. Fed watchers say the Board in Washington wants to be ready to launch another round of bond purchases if necessary, pushing the banks balance sheet from $ 2.4 trillion towards $ 5 trillion, but hawks at the regional banks are highly sceptical.

A study by the San Francisco Fed said the interest rates need to be –4.5pc to stabilise the economy under the Fed’s “rule of thumb”. Since this is impossible, massive QE needs to make up the difference.

Tim Congdon from International Monetary Re

Best answer:

Answer by Jeff T
End of the road? No.

End of the American Century? Possibly.

Give your answer to this question below!

1 comment - What do you think?  Posted by - October 3, 2010 at 7:21 pm

Categories: Beach Towels   Tags: , ,

Do U know this joke, a real side kick of life!!?


by sebloubatie

Question by gleelogan: Do U know this joke, a real side kick of life!!?
I came by an Old Folks home yesterday and there was 6 old ladies laying Butt naked on a large beach towel. I thought it odd, but went about my business, ran a few errands and returned to the same site. There was the 6 old ladies, still laying there! I went inside and asked the supervisor, “what is going on outside with those old ladies on the towel?”…She said, ‘just a bunch of old whores having a yard sale–half off!’……..

Best answer:

Answer by joshdog38
not all that funny

Give your answer to this question below!

5 comments - What do you think?  Posted by - at 7:14 pm

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Q&A: what can this dream mean?


by sebloubatie

Question by Karin: what can this dream mean?
I was actually answering another question about dream interpretation when it reminded me about a dream that I had.

I still don’t get why I dreamt it, but I hated myself for dreaming and that why I remember it.

I dreamt this about a year ago. My sister has this “friends with benefits” thing going on with a guy, Kurtis, whom I can’t stand! I hate his guts, he gets me pissed off every time I see him or when I am around in. I would honestly feel guilt nor sorrow if he one day got hit by a bus and died. That’s how much I don’t like him. But anyway…

I dreamt that I saw him in our bathroom naked. He had just gotten out of the shower, and everyone in the house; my mom, my step-dad, and naturally my older sister, were totally cool with it- besides me! I have never seen Kurtis naked nor do I want to. I’ve never even seen him with his shirt off, and I want to keep it that way! I’ve never even seen a guy in general naked in front of me! But in the dream he kept the door open with the steam from the shower coming out, and fogging the window, like it was his house. Then my sister walked by him and said “oh let me get you a towel”, so she went downstairs ( when we have towels in the shower that Kurtis was in)… My mom was in the computer room working, and my step dad was watching tv in his room right next to the shower. Then Kurtis just sat on the toilet and took a dump, and he took a hand towel to cover his erect penis while taking a bump… and this is ALL with the door open!! My sister comes back up with a towel, and hands it Kurtis, then Kurtis reached out of nowhere to grab a pair of scissors and he cut out a dress for my sister to wear. Then my sister said “I’m late for work”, went into her room and drove away in her car. Kurtis on the other hand was still in our bathroom, butt naked, just staring out the window. And I said “Kurtis can you get out now, I need to brush my teeth” Because I had just gotten up, I sleep late. And Kurtis said, “no I’m cool, I like it here. Don’t be shellfish, you need to share”. Which got me so mad I stormed out of the house, and took my dog for a walk, and ended up in the beach…

And that where I woke up, and I couldn’t go back to sleep after that because I hated myself for dreaming about it. It was the most disgusting and invasive of personal space kind of dream that I ever had! So.. if you can tell how that dream makes any sense, then be my guest.

My sister is still with him, and I still loath him. I see him like a really bad disease that i am trying to avoid… like cancer of some sort. He’s no good, and I hate him!!

Any reason to why I had such a scary, and disgusting dream?

Best answer:

Answer by IntuitiveImpressions
Being naked indicates one who is open to you; in this dream, you see Kurt exactly who is and he makes you uncomfortable and you don’t like him.

Taking a dump is your mind’s way of saying he makes messes and is a base level energy.

The rest of your family seems to accept him the way he is; they don’t care if he is naked in the dream. When Kurt cuts a dress for your sister to wear, it tells me he is controlling your sister’s identity and her choices; clothes are the way we express ourselves as individuals.

Give your answer to this question below!

Be the first to comment - What do you think?  Posted by - at 7:12 pm

Categories: Beach Towels   Tags: , ,

Q&A: BAD DREAM! What can it mean? PLease answer?


by brtsergio

Question by Karin: BAD DREAM! What can it mean? PLease answer?
I was actually answering another question about dream interpretation when it reminded me about a dream that I had.

I still don’t get why I dreamt it, but I hated myself for dreaming and that why I remember it.

I dreamt this about a year ago. My sister has this “friends with benefits” thing going on with a guy, Kurtis, whom I can’t stand! I hate his guts, he gets me pissed off every time I see him or when I am around in. I would honestly feel guilt nor sorrow if he one day got hit by a bus and died. That’s how much I don’t like him. But anyway…

I dreamt that I saw him in our bathroom naked. He had just gotten out of the shower, and everyone in the house; my mom, my step-dad, and naturally my older sister, were totally cool with it- besides me! I have never seen Kurtis naked nor do I want to. I’ve never even seen him with his shirt off, and I want to keep it that way! I’ve never even seen a guy in general naked in front of me! But in the dream he kept the door open with the steam from the shower coming out, and fogging the window, like it was his house. Then my sister walked by him and said “oh let me get you a towel”, so she went downstairs ( when we have towels in the shower that Kurtis was in)… My mom was in the computer room working, and my step dad was watching tv in his room right next to the shower. Then Kurtis just sat on the toilet and took a dump, and he took a hand towel to cover his erect penis while taking a bump… and this is ALL with the door open!! My sister comes back up with a towel, and hands it Kurtis, then Kurtis reached out of nowhere to grab a pair of scissors and he cut out a dress for my sister to wear. Then my sister said “I’m late for work”, went into her room and drove away in her car. Kurtis on the other hand was still in our bathroom, butt naked, just staring out the window. And I said “Kurtis can you get out now, I need to brush my teeth” Because I had just gotten up, I sleep late. And Kurtis said, “no I’m cool, I like it here. Don’t be shellfish, you need to share”. Which got me so mad I stormed out of the house, and took my dog for a walk, and ended up in the beach…

And that where I woke up, and I couldn’t go back to sleep after that because I hated myself for dreaming about it. It was the most disgusting and invasive of personal space kind of dream that I ever had! So.. if you can tell how that dream makes any sense, then be my guest.

My sister is still with him, and I still loath him. I see him like a really bad disease that i am trying to avoid… like cancer of some sort. He’s no good, and I hate him!!

Any reason to why I had such a scary, and disgusting dream?

Best answer:

Answer by God Despises The IRS
because you really do see him as a disgusting, piece of crap who has no morals, no character whatsoever. I’m surprised you didn’t also dream of laying into him upside his head with a baseball bat. But I’ll bet nothing would have happened. You’d be pounding away and he’d be acting like nothing was happening.

Give your answer to this question below!

1 comment - What do you think?  Posted by - at 7:10 pm

Categories: Beach Towels   Tags: , , ,

How do you respond to someone who asks to get something for you out of your own home?


by evilelka

Question by _: How do you respond to someone who asks to get something for you out of your own home?
We were swimming. I brought out one towel for my baby and I to share. I asked my husband that he bring me out another towel. He brought me out one of our expensive new bath towels. I said, “Oh no, I didn’t want to ruin it, get me a beach towel.” His mom goes, “I’ll go get it, where are they?” I thought it was rude to ask to go into my house (we were outside), look through my things, and bring it to me. I know how his family is. They don’t get what they’re sent to get.. they snoop.

I just said “No, I’ll go get it.” In a hurry because I’m uncomfortable sending people in my house without my supervision. Every time her family comes over, the shower curtain is open and there’s foot prints of dirt in my tub and the whole shebang.

How should I take this?
No, sorry she never asks to help with anything else. I just thought that she was up to something for asking when she never offers. She doesn’t have manners like a mother should have.

Best answer:

Answer by Eron P
overreact much…she was just trying to be helpful..she is your m-i-l not a complete stranger..relax

What do you think? Answer below!

10 comments - What do you think?  Posted by - at 7:03 pm

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Is the “Do you know how I know YOU’RE gay?” game offensive or farmless fun?


by Esther17

Question by Gnu Diddy!: Is the “Do you know how I know YOU’RE gay?” game offensive or farmless fun?
(Referring to the game made famous in the movie, “The 40 Year Old Virgin”.)

Some of my gay friends think it’s stupid and offensive even if the stereotypes aren’t hateful. Others find it quite amusing.

Examples of some of my “winning” moves (said to straight men but sometimes in the presence of gay men who’ve been amused):

“Because you have ‘It’s Raining Men’ as a ringtone.”
“Because you have a rainbow beach towel.”
“Because your desktop calendar has shirtless firefighters.”
“Because you’re always saying, ‘Jerry Falwell can bite me!'”
“Because you switched to cocoa colored shower curtains to match the new packaging on you Sebastian hair products.”
(Only the gay guys laughed at that one!)

And some variant of this usually wins against me:

“Because you’re so good at knowing what makes someone gay!”
Wow, what a typo!

Best answer:

Answer by Maryn Bittner
It’s farmless. I never once got a farm.

Know better? Leave your own answer in the comments!

8 comments - What do you think?  Posted by - at 7:02 pm

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