posted
America now seems to be in the midst of an economic war
with who? China? i've been saying that for years.
and what is an internatiaonl federal reserve?
the "upper class" that we middle class people are not supposed to be at war with are taking their money out of the US to avoid paying taxes. why would they allow an international economic system to develop since they'll just end up paying taxes to support it?
our economic meltdown is one result of a trade deficit that has been increasing steadily for decades now.
simply put? no economic system lasts if it is out of balance. even the Chinese admit that the only reason they keep buying dollars is there's nothing else to do with them... yet the Chinese continue to manipulate their currency so that they can sell products to the US market more cheaply than US producers can produce them (forget about profit).. yeah, we are at war, but it's fairly clear who and how and why... it's just not clear (to me) why more people don't see it for what it is.
they could buy gold. that was what i expected them to do... i dunno why they don't...
as for his advice on how to deal with the dollar losing value? develop a business, it's work, but it keeps you level unless your customers don't have any money...
keep in mind that every time we trun on the printing presses and make more dollars? everybody else just does it too, and the net result is that the dollar stays fairly flat, it has lost some value, but the people that feel that pain are the poor who can't make enough money to eat, and the every rich who have capital (that's relatively shrinking) but no place to out it to work without major (very serious) risk....
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
| IP: Logged |
quote:Originally posted by moremula: So much for the cheap chinese products
Beijing is hurting bad since the Olympics. they have alot of unemployment and empty office space left...
as for cheap Chinese goods? they aren't cheap if the govt has to print more money to compensate for all the money that is not in the US economy anymore...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
| IP: Logged |
posted
That comment was sarcasm for the US sending US jobs to china. IMO no harm in helping the economy in other countries but not at the expense of damaging your own economy
Posts: 316 | Registered: Jun 2006
| IP: Logged |
quote:Originally posted by moremula: That comment was sarcasm for the US sending US jobs to china. IMO no harm in helping the economy in other countries but not at the expense of damaging your own economy
i took it as sarcasm....
there's an old saying pennywise and pound foolish...
i can remember when it was patriotic to say buy American, yet i hear conservatives and liberals alike saying we cannot have protectionism...
IMO? you don't give away your country for money. period.
Bush (his DOJ) initiated this case, and it appears Obamas people will follow it thru...
Swiss Suffer Secrecy Loss to Sustain Money Management (Update1)
March 6 (Bloomberg) -- Ever since UBS AG handed over the names of about 300 customers to the U.S. on Feb. 18, there’s been nothing but shuddering from Zurich’s Paradeplatz to Geneva’s quartier des banques.
The decision marked the first time Switzerland lifted its banking secrecy laws, allowing UBS to pass on client data to avoid U.S. criminal charges. In the past two weeks, Finance Minister Hans-Rudolf Merz said he’s willing to collect taxes on offshore accounts for the U.S., and Justice Minister Eveline Widmer-Schlumpf offered cooperation on some cases of tax evasion.
now we need to see tax changes that benefit people who create jobs in the US and punishes those that take them to other countries..
i still beleive that we screwed up bad by making China a most favored nation, and the only real benefit we've seen from that is some minor help with North Korea....
they bid the price of oil higher to do the olympics... yet they have price controls on gasoline...
The great oil shock of 2008 is bad enough for us. It poses a mortal threat to the whole economic strategy of emerging Asia.
The manufacturing revolution of China and her satellites has been built on cheap transport over the past decade. At a stroke, the trade model looks obsolete.
No surprise that Shanghai's bourse is down 56pc since October, one of the world's most spectacular bear markets in half a century.
Asia's intra-trade model is a Ricardian network where goods are shipped in a criss-cross pattern to exploit comparative advantage. Profit margins are wafer-thin.
Products are sent to China for final assembly, then shipped again to Western markets. The snag is obvious. The cost of a 40ft container from Shanghai to Rotterdam has risen threefold since the price of oil exploded.
"The monumental energy price increases will be a 'game-changer' for Asia," said Stephen Jen, currency chief at Morgan Stanley. The region's trade model is about to be "stress-tested".
quote:Originally posted by moremula: That comment was sarcasm for the US sending US jobs to china. IMO no harm in helping the economy in other countries but not at the expense of damaging your own economy
i took it as sarcasm....
there's an old saying pennywise and pound foolish...
i can remember when it was patriotic to say buy American, yet i hear conservatives and liberals alike saying we cannot have protectionism...
IMO? you don't give away your country for money. period.
Bush (his DOJ) initiated this case, and it appears Obamas people will follow it thru...
Swiss Suffer Secrecy Loss to Sustain Money Management (Update1)
March 6 (Bloomberg) -- Ever since UBS AG handed over the names of about 300 customers to the U.S. on Feb. 18, there’s been nothing but shuddering from Zurich’s Paradeplatz to Geneva’s quartier des banques.
The decision marked the first time Switzerland lifted its banking secrecy laws, allowing UBS to pass on client data to avoid U.S. criminal charges. In the past two weeks, Finance Minister Hans-Rudolf Merz said he’s willing to collect taxes on offshore accounts for the U.S., and Justice Minister Eveline Widmer-Schlumpf offered cooperation on some cases of tax evasion.
now we need to see tax changes that benefit people who create jobs in the US and punishes those that take them to other countries..
i still beleive that we screwed up bad by making China a most favored nation, and the only real benefit we've seen from that is some minor help with North Korea....
they bid the price of oil higher to do the olympics... yet they have price controls on gasoline...
The great oil shock of 2008 is bad enough for us. It poses a mortal threat to the whole economic strategy of emerging Asia.
The manufacturing revolution of China and her satellites has been built on cheap transport over the past decade. At a stroke, the trade model looks obsolete.
No surprise that Shanghai's bourse is down 56pc since October, one of the world's most spectacular bear markets in half a century.
Asia's intra-trade model is a Ricardian network where goods are shipped in a criss-cross pattern to exploit comparative advantage. Profit margins are wafer-thin.
Products are sent to China for final assembly, then shipped again to Western markets. The snag is obvious. The cost of a 40ft container from Shanghai to Rotterdam has risen threefold since the price of oil exploded.
"The monumental energy price increases will be a 'game-changer' for Asia," said Stephen Jen, currency chief at Morgan Stanley. The region's trade model is about to be "stress-tested".
quote:House Panel Sets Hearing on Mark-to-Market Accounting
A House Financial Services subcomittee has scheduled a March 12 hearing on mark-to-market accounting rules -- a dry-sounding topic that likely would have a massive impact on the struggling big banks and the wider economy if it were altered.
Simply put, mark-to-market accounting rules, enforced by the SEC and the government's designated accounting oversight group, require a company to value -- or "mark" -- assets on its books based on the price they would bring if they were sold today.
In theory, mark-to-market provides good information for potential investors and prevents businesses from assigning any value they choose -- likely a higher one -- to things they own.
posted
no i didn't, i'll have to make sure nd watch it...
at this point? if they change the rules back? it won't change much in the market for quite awhile... it's sort of like the emperors clothes... people know already...
if banks no longer had to account for these valueless assets on their books, their balance sheets would suddenly improve and -- this is the important part -- private capital would start to flow back into the banks
in a few years? they might forget....
want private capital to return to the markets? throw a whole lot of the criminals in jail... people will begin to gain some trust again...
people blame Obama for the market continuing to drop? Bernie Madoff and people like him is why private capital won't be returning any time soon...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
| IP: Logged |
quote:"throw a whole lot of the criminals in jail..."
Who would you throw in jail. Barney Frank, Bill Clinton, George Bush, Chris Dodd, every member of the Congressional Black Caucus for promoting "homeownership" to deadbeats? How about the millions of idiots that bought homes they couldn't afford? How about the management of AIG for insuring financial instruments they didn't understand? How about the management of every bank that made sub-prime loans that went bad? How about the morons in charge of the credit card companies that rip off the American public at every turn? How about all the lazy deadbeats that sit home every day watching their big screen tv's and sucking up government handouts when they should be working?
If you did that, only a few conservatives would be left out of jail. We couldn't afford to support all these people in jail, even if they were on bread and water!
Posts: 1577 | From: Ohio | Registered: Oct 2007
| IP: Logged |
posted
PM YOU DON'T KNOW WHAT YOU ARE TALKING ABOUT
-------------------- Wise men learn more from fools than fools from the wise. Posts: 3827 | From: beautiful California | Registered: Sep 2008
| IP: Logged |
posted
He's too dumb to even know he doesn't know what he is talking about.
Which is a condition very very common among the right-wing. There is a reason most educated folks refuse to accept the trash talking hate that right-wingers broadcast incessantly.......they think about things, because they can, thus enabling them to bypass the crap that depends on remaining ignorant and bigoted.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
| IP: Logged |
quote:"throw a whole lot of the criminals in jail..."
Who would you throw in jail. Barney Frank, Bill Clinton, George Bush, Chris Dodd, every member of the Congressional Black Caucus for promoting "homeownership" to deadbeats? How about the millions of idiots that bought homes they couldn't afford? How about the management of AIG for insuring financial instruments they didn't understand? How about the management of every bank that made sub-prime loans that went bad? How about the morons in charge of the credit card companies that rip off the American public at every turn? How about all the lazy deadbeats that sit home every day watching their big screen tv's and sucking up government handouts when they should be working?
If you did that, only a few conservatives would be left out of jail. We couldn't afford to support all these people in jail, even if they were on bread and water!
wasn't it you who said that there was no crime to prosecute Bush on? actually there's a long list.
half his justice dept was in on it.
for starters? i propose putting people in jail for FRAUD. all you have to do is go back and pull the applications that they lied on.
pull accounting statements that were full of lies
it's really sad to see you post this stuff. you lap up the slop from right wing tv and radio then regurgitate it here
last i checked? being lazy isn't a crime.
fact is? people won't invest in the market fo rsome time to cme because they don't trust Wall St anymore.
eventually they'll forget and the cycle will repeat
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
| IP: Logged |
quote:for starters? i propose putting people in jail for FRAUD. all you have to do is go back and pull the applications that they lied on.
Whoa! I agree. So you're going to throw everyone in jail that lied on their application for a "liar loan" (stated income loan). Who else?
Posts: 1577 | From: Ohio | Registered: Oct 2007
| IP: Logged |
who else. people who broke the laws, that's who else...
did you fail to hear about madoff or Stanford? They are just the obvious ones.
in order for private capital to come back to the market, people have to beleive that their money is not being stolen. the SEC just fined MMs and brokers 77 million $ yesterday for improper trading. it's fraud when you examine the laws but the DOJ doesn't get invovled since the SEC is there.. well the SEC is not law enforcement...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
| IP: Logged |
posted
If you did that, only a few conservatives would be left out of jail. We couldn't afford to support all these people in jail, even if they were on bread and water!
you are one sad peice of work.
you think it's "OK" for people to lie cheat and steal as long as they work at it?
that being lazy is worse than running a ponzi scheme?
didn't you say that Cheney was a real Conservative?
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
