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a surfer
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http://www.youtube.com/watch?v=eb1n1X0Oqdw&feature=player_embedded

I would recommend every citizen of the United States watch this.

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CashCowMoo
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Looks good so far, but I really dont think anyone will watch it all the way through! Its long!

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It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

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glassman
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i couldn't get thru all the video cutups yet, i'll try again later, i assume it's about runaway inflation which is coming

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Don't envy the happiness of those who live in a fool's paradise.

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CashCowMoo
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A good point was house the Iraq war was 1000% higher in costs predicted, and its going to be the same for this health care bill. Lots of talk about China basically owning us.

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It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

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glassman
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i'm glad you brought up China owning US.

this is something else i breifly touched on early in the bailout cycle.

China was the only "player" in the world with any real cash and nobody would lend each other more moeny.

if we had allowed GM to fail? the Chinese would have bought GM on the bankruptcy market and tore out all the eqpt and moved it to China.

another reason to bail out isntead of fold like a cheap lawn chair. That's what no bailouts really meant- folding.

prior to the crash? the fiance experts all called the Chinese money mangers UnSophisticated and naive, yet their strategy proved to be the winning one didn't it?

whetehr or not they would have took advantage of real estate bottoms that would have been 20% or more lower is debatable, but hey would have taken even more jobs than they do now.

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Don't envy the happiness of those who live in a fool's paradise.

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a surfer
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real estate has yet to bottom here.

Another 20% is very probable.

Actually most likely.

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glassman
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quote:
Originally posted by a surfer:
real estate has yet to bottom here.

Another 20% is very probable.

Actually most likely.

we averted a depression equal to or greater than the Great Depression.

a large part of that is because China openly manipulates their currency. I've liked gold and silver since 03 specifically because i beleived China would be forced to open their currency tot eh world market and would use gold to bolster it. i do not understand why they haven't already and don't do that now.... it just makes sense to me for them to do that.


Thye may be trying to accumulate as much as they can surreptitiosly before they openly declare they are ready to "float" their currency....

they are slowly but surely working on it:


Gold mining in China has recently made that country the world's largest gold producer. For the year 2007, gold output rose 12% from 2006 to 276 tonnes (or 9.7 million ounces) to become the world's largest for the first time -- overtaking South Africa, which produced 272 tonnes.[1] South Africa had until then been the largest for 101 years straight since 1905. The major reasons for this change in position had been due to South African production falling by 50% in the past decade as production costs there have risen, more stringent safety regulations have been implemented, and existing mines have become depleted.

On the other hand, gold output in China has risen by 70% for the past decade. In recent years, China's gold mining industry has received increased foreign and domestic investment, and project numbers have increased as more discoveries have been found. China produced nearly 300 tonnes of gold in 2008. It is also the only country in the top three where production rose in 2008.[2]

Top foreign investment has come from Canada and Australia. Though foreign investment still constitutes a very important part gold mining expansion, since 1995 it has no longer been actively encouraged by the Chinese government.

Most of China's gold output stays in the country where it is transformed into jewelry and manufactured items, though the country's export role is increasing. In 2007, fabrication rose 18%, helped by demand from China's increasingly wealthy middle and upper classes.,,With a rapid rise in domestic demand, China is now the world's fourth largest gold-consuming country. Chinese market demand accounts for 9.2% of worldwide gold consumption.


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a surfer
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"we averted a depression equal to or greater than the Great Depression."

Averted or delayed?? Or is China delaying it?

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glassman
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quote:
Originally posted by a surfer:
"we averted a depression equal to or greater than the Great Depression."

Averted or delayed?? Or is China delaying it?

if we delayed it? then we have been given time to prepare ourselves and noone can say they weren't warned. i'm weathering this pretty well, and will continue to weather it if it gets worse.

if we averted it? there will always be people who say it was made worse by this that and the other or it was made longer like some say about he Great Depression.

in the end? it was caused by the exact same things the Great Depression was caused by- unresanoble investing and over leveraging in the markets.

China? i remeber when we used to have Buy American signs in WalMart and i didn't shop there because i didn't like them and didn't have to.

i now live in a very small city that basically only has a WalMart because they ran off all the other vendors years before i even got here....

China is not our ally no matter how many people try to say trading with them is so good.

Bush's first internatioanl incident in office was the China - spyplane crash

March 31, 2001: US Spy Plane Crashes in China; Chinese Strip Plane of Sensitive Equipment

“Aviation protocol demands that the quicker plane take steps to avoid the larger, slower aircraft, which in this case was the EP-3 belonging to the US.” [CNN, 4/2/2001] Senator Richard Lugar (R-IN) says that the Chinese pilot who died in the collision, Wang Wei, was known to have challenged US surveillance planes before, but this time Wei—who apparently died when he ejected from his aircraft and was pulled into the EP-3’s propellers—“exceeded his grasp.” The Chinese have a different story: “the immediate cause of the collision was the violation of flight rules by the US plane which made a sudden and big movement to veer towards the Chinese plane,” according to a Defense Ministry spokesman


http://www.historycommons.org/timeline.jsp?us_military_specific_cases_and_issues =us_military_tmln_spy_plane_crash_in_china&timeline=us_military_tmln

we uh, wel, we lost that skirmish. We got our people back but they failed their demolition job.

I had a job that required me to demolish eqpt in the navy. Granted it was a little differnet being on a ship, but maybe not if the ship is sinking fast -i considered my job of destroying my wepsys to be the most important thing.

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Don't envy the happiness of those who live in a fool's paradise.

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