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Gee, the DOW is all the way up to 7170!
What a triumph! ( ? )
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Last edited by numan; 03/12/09 07:23 PM.
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- Wen puts US honor on the debt lineVarious efforts by the US to resolve the country's financial crisis by selling ever more debt to pump money into the financial system are raising concern that this will drive up inflation and pull down the value of the US dollar, which would cut the value of debt held by China, the largest creditor of the US.
[SNIP]
"We are very concerned about the economic developments in the US economy," Wen said....
Wen called on the US government to ensure that the value of Chinese assets in the US is maintained amid the crisis.
"We have lent a huge amount of money to the United States and of course we're concerned about the security of our assets and, to be honest, I am a little bit worried"....
[SNIP]
As the global financial crisis sends asset values plunging, mainland leaders are under growing pressure at home to diversify the country's foreign exchange reserves. TRANSLATION: "China must get rid of its dollar assets as quickly as possible, but without precipitating a collapse of the US dollar." Good luck with that! When the dollar collapses, what happens to US treasuries? If no one touches our treasury bonds, where do we get the money for all our grandiose spending? We may find that we have champagne tastes for spending on a beer budget. On the bright side, that would also include spending on the pentagon and the military-industrial complex --- the main cancers on our body politic, as President Eisenhower predicted. The only answer would be re-tooling the US for an emergency command economy. I predict that those who have been shrieking about "socialism" for decades will be the biggest and most fervent supporters of centralized planning --- they will be too worried about saving their butts to be concerned with ideology. -
Last edited by numan; 03/13/09 09:09 PM.
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Pooh-Bah
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- Wen puts US honor on the debt lineVarious efforts by the US to resolve the country's financial crisis by selling ever more debt to pump money into the financial system are raising concern that this will drive up inflation and pull down the value of the US dollar, which would cut the value of debt held by China, the largest creditor of the US.
[SNIP]
"We are very concerned about the economic developments in the US economy," Wen said....
Wen called on the US government to ensure that the value of Chinese assets in the US is maintained amid the crisis.
"We have lent a huge amount of money to the United States and of course we're concerned about the security of our assets and, to be honest, I am a little bit worried"....
[SNIP]
As the global financial crisis sends asset values plunging, mainland leaders are under growing pressure at home to diversify the country's foreign exchange reserves. TRANSLATION: "China must get rid of its dollar assets as quickly as possible, but without precipitating a collapse of the US dollar." Good luck with that! I saw his comments today. I don't think it has anything to do with a concern over their dollar holdings. They would have seen that situation developing long before now. Besides, it way too blunt to be taken at face value. I think, sly wrascals that they are, that they are playing their one strategic strength in response to President Obama's sending a warship to the South China Sea as protection for a US intelligence gathering ship and a show of support for maintaining open sea lanes. My translation: Don't make Beijing lose face by playing to your home audience or we will make things difficult for you in other areas. Have a nice day.:-) Yours, Issodhos P.s. Humorous aside: The name of the US destroyer sent to protect the USNS Impeccable? The USS Chung-Hoon.:-)
"When all has been said that can be said, and all has been done that can be done, there will be poetry";-) -- Issodhos
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It's the Despair Quotient! Carpal Tunnel
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It's the Despair Quotient! Carpal Tunnel
Joined: Aug 2004
Posts: 17,177 Likes: 254 |
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Gee, the DOW is all the way up to 7170!
What a triumph! ( ? )
- When it was teetering toward five grand land every right wingnut was eager to call it "The Obama Recession". If it shoots to ten grand tomorrow, or in a week, or a year, the same jackasses will attribute it to the sound fiscal policies of the GOP. I'll bet twenty bucks cash on it.
"The Best of the Leon Russell Festivals" DVD
deepfreezefilms.com
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Pooh-Bah
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I'll bet twenty bucks cash on it. Or, 41 shares of AIG.;-) Yours, Issodhos
"When all has been said that can be said, and all has been done that can be done, there will be poetry";-) -- Issodhos
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- From Der Spiegel: Fighting the Recession: America is from Mars....French President Nicolas Sarkozy concurred with Merkel when he said: "The problem is not spending more money, but putting in place financial systems of regulation."
....the United States is only moderately interested in this issue. Instead, Washington is pushing for a global initiative to stimulate demand with new government spending programs.
[SNIP]
But it is now clear that the economic situation on both sides of the Atlantic is only getting worse....
"A recovery should not be expected before the end of 2010, and even then it will not be strong," says Joachim Scheide, the IfW's chief economist.
The situation is no better in the United States, where the recession has driven unemployment in recent months to its highest level in 25 years. The outlook for this year is darkening from week to week, as major corporations announce one wave of layoffs after the next....
This [American] approach is based on the idea that the economy functions largely in accordance with the relatively simple laws of hydraulics: If demand declines somewhere, be it in the form of investment, consumption or export, the government will intervene with its billions. Whether the funds can even be spent effectively any more stopped mattering a long while ago. Elsewhere in the article, reference is made pointedly to the American " claim to leadership," not to its "leadership". -
Last edited by numan; 03/17/09 05:35 PM.
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Moderator Carpal Tunnel
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Moderator Carpal Tunnel
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I think it is healthy that different economies take different routes. Once the U.S. economy starts to recover, they will jump on the erfolgreiche Seite quickly enough, or be left behind.
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.
Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich
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Once the U.S. economy starts to recover.... Shouldn't that be: " If the US economy starts to recover...." ? -
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Moderator Carpal Tunnel
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Moderator Carpal Tunnel
Joined: Sep 2011
Posts: 18,003 Likes: 191 |
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.
Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich
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- I think it is, " If the US economy starts to recover...." Most people still do not realize the gravity of the present situation. Consider the following: Before the stampedeIncreasingly ominous clouds are gathering in what could soon be the perfect storm against the United States dollar and against the present dollar-centric global financial order.
This is not shaping up to be a storm that anyone is trying to initiate, not even those who are actively driving for a new global financial order that is no longer centered on the dollar.
[SNIP]
The truth is that the potential for a global dollar panic is becoming greatly heightened, in spite of (and in part, actually because of) the dollar's recent significant gains as a refuge for investors....
For example, a number of experts warn that US Treasuries are increasingly taking on the characteristics of a bubble, and they remind us that bubbles inevitably deflate, and they rarely, if ever, do so in an orderly fashion. When this one deflates there could be uncontrolled, perhaps even chaotic, repercussions for the dollar.
[SNIP]
The bigger and hotter any bubble gets, the more prepared its devotees become to speedily abandon it in favor of the next one. That explains why investors have mostly piled into very short term Treasuries - they know they may well have to sell out even faster than they bought in.
Last edited by numan; 03/18/09 05:24 AM.
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