Click on headline to be redirected to the story
-- BOMBSHELL: 9/11 terrorists to be tried in New York!!!!!!!! -- British citizens to be given PERSONAL “Carbon allowances” ----- Individuals exceeding their share will be penalized. Allowances will be rationed out by either Squealer, Snowball, or Napoleon
-- Bush warns against federal control of private sector I wish he would have thought about that 8 years ago
(Saturday Night UPDATE---One more column worth checking out)
http://www.moneyandmarkets.com/is-china%e2%80%99s-currency-manipulation-coming-to-a-head-5-36414
ReplyDeleteA pretty simplified explanation of the currency issues, regarding China and the US dollar.
LOL! Obama finds fiscal religion.
ReplyDeleteChurch,
ReplyDeleteThat article was really interesting, and brought up some points that I had not heard before. It makes sense that the Chinese a have pegged with the dollar. Although if I'm China, I'm not sure I really give a crap what the US tells me. China, through their holdings of us debt, essentially owns America and could bankrupt us if they so choose. Not only by calling in our debt, but also by raising the reigning in the excess in the yuane.
The only thing I didn't like about the artice, which is something I notice almost everywhere in world economic reports, is the failure to mention the role of the US government in lowering our own currency value. We have been printing money in a flodding our market with new fiat money: printing, borrowing, and defrauding taxpayers in a way that I have never scene. It is disingenuous for Barrack Obama (The monopoly Money Man) to tell China to do something that he will not. Especially when they are talking about increasing the debt limit and adding health care and cap'n trade to the tab. Our country has no credibility because we are as much a part of the problem as China is, if not worse because we are enabling their behavior.
The story matches with the other link I posted regarding our expanding trade deficit. I don't think trade deficits are always bad, but outs certainly is at this point. The authors dismissal of our role in "Chinas corruption" strips some of his credibility.
Also, I had the same reaction to Obama's fiscal salvation :) But really this is how this guy has taled since he entered the presidential race.
ReplyDelete-stop wasteful spending
-end pork barrel projects
-
- lower the deficit
-end the war (s)
and if course my favorite, and most ridiculious lie:
-buy a shelter dog :)
I really think the guy has developed into a pathological liar because no-one in the media calls him to count. He lies about all this stuff because its not going to be mentioned. But it is still funny that he says it, under the circumstances of his first year in office :)
Mr. Caper,
ReplyDeleteRegarding the part you don't like, I would like to address that, as I see it.
I believe the strategy is to lower your currency, so that your trade products (a wide and variety of stuff) continues to be exported throughout the world. This seems to be a pretty accepted process in world views. So, are they surprised or disappointed when we crush our currency? I think not.
As a matter of fact, most countries are now subsidizing their companies or banks, and industry leaders within each country, they are all printing money like it's going out of style. Each country is purposefully trying to devalue their dollars as well. The "keynesian" idea of, spend your way out of the recession seems to be the motto.
So, in short, I think the devaluing of the US dollar, as far as the world is concerned, is somewhat of a different topic. Our internal operation and monetary policy is really left up to us as a country, however, countries like China are very watchful of our policies since they hold alot of our debt.
Where the world does make statements regarding our fiscal policy, I believe, is stated in a "round about" way, is when other nations are calling for a different reserve currency.
Thanks!
http://www.nytimes.com/2009/11/16/opinion/16ferguson.html?pagewanted=1&_r=3&ref=opinion&adxnnlx=1258362481-lg8lkHMhhPtnONmrpXeZcg
ReplyDeleteThis should help!