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Old 08-06-2011, 02:50 PM
 
27,625 posts, read 21,056,057 times
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Quote:
Originally Posted by malamute View Post
Yeah but then they'd be dumb because they can get the same Chinese made crap for cheaper at a Walmart.

Harrod’s: Made in China? « england and ireland 2006

One thing I was struck by is that Harrod’s is kind of an icon of London. But in the gift shop, so many of the keychains an assorted souvenirs had the building, a london bus, the union jack and were labelled “Made In China”.

Not dumb because if the Made in China thing is true at Harrods, they are putting right back into their own economy. I read that the average Chinese shopper at Harrods spends $5000 a pop.
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Old 08-06-2011, 02:54 PM
 
2,514 posts, read 1,981,991 times
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The short answer is that we need to be saving enough money to be buying our own debt.
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Old 08-06-2011, 03:08 PM
 
Location: Ohio
24,623 posts, read 19,077,671 times
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Quote:
Originally Posted by Trash Can View Post
It's pretty sad when a communist country feels the need to lecture a capitalist country on how to run it's finances. To make matters worse, China is right.
Quote:
Originally Posted by summers73 View Post
There, looks better now.
You guys are too much.

Quote:
Originally Posted by emilybh View Post
Businesses are OVER-REGULATED here and the Obama administration thinks MORE regulation is the answer.
No, Obama thinks that NAFTA-like trade agreements with South Korea, Columbia and Panama are the answer.

Quote:
Originally Posted by newonecoming2 View Post
The short answer is that we need to be saving enough money to be buying our own debt.
Make up your mind. People can't be buying homes and saving money at the same time.
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Old 08-06-2011, 03:11 PM
 
Location: NC
9,984 posts, read 10,364,867 times
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Quote:
Originally Posted by emilybh View Post
Sounds like after the news of the downgrade China is shutting us off. No more endless borrowing and no more Dollar as the reserve currency. It is finally time to take our medicine.


"The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," China's official Xinhua news agency said in a commentary.


WRAPUP 7-China tells US good old days of borrowing are over | Reuters
I call BS. The T-Bond is very strong today perhaps stronger then it has ever been based on yields. As to the Dollar being the reserve currency it is the only game in town. China will not shut us off, because they are utterly dependent on us. Their currency is tied to ours they need our markets for their exports. Their central bank holdings are dependent on dollars and with Europe in the grip of a sovereign debt crisis they have no options.

The Dollar is the only game in town and the fact that T-Bond demand has soared over the last few days is evidence of that.
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Old 08-06-2011, 03:33 PM
 
Location: SC
9,101 posts, read 16,412,043 times
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Mircea said:

..............No, Obama thinks that NAFTA-like trade agreements with South Korea, Columbia and Panama are the answer.........................



Sure but that is not the ONLY problem. Obama and the Repubilcans have done a lot of damage here too to prevent businesses from being able to expand or even start. Obama doesn't know the first thing about running a business. He doesn't get it. The legislative and regulatory environment in this country is the worst it has ever been. PERIOD.

The Federal Reserve's reckless money expansion and bailouts of the elites... and Obama's cluelessness about the IMPORTANCE of reigning them in is UNBELIEVABLE!

NAFTA is just one thing -- not the only thing like you make it sound.

In fact the expansion of the money supply and paying back China with dollars that won't buy as much is what CHINA is most concerned about. It is how our national debt got so out of control!!!!!!!!!!!!!!!!!!!!!!!!!!
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Old 08-06-2011, 03:40 PM
 
Location: SC
9,101 posts, read 16,412,043 times
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Quote:
Originally Posted by Randomstudent View Post
I call BS. The T-Bond is very strong today perhaps stronger then it has ever been based on yields. As to the Dollar being the reserve currency it is the only game in town. China will not shut us off, because they are utterly dependent on us. Their currency is tied to ours they need our markets for their exports. Their central bank holdings are dependent on dollars and with Europe in the grip of a sovereign debt crisis they have no options.

The Dollar is the only game in town and the fact that T-Bond demand has soared over the last few days is evidence of that.
Don't you get it? (I guess not). Why would China be so STUPID as to continue exporting to us when WE CAN'T PAY for their goods! We have NO MONEY- no real savings or products to pay for their exports with! That is why they have to keep rasing the debt ceiling. We are BANKRUPT and they are finally figuring it out.

They have their own people and many other countries they can sell their products to and get paid back with much stronger currencies than our dollar.

It sounds like you've been listening to 80% of the so called "experts" who only studied Keynes who also have been WRONG WRONG WRONG about the economy and where it is headed and what it needs to recover.
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Old 08-06-2011, 03:46 PM
 
Location: NC
9,984 posts, read 10,364,867 times
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Quote:
Originally Posted by emilybh View Post
Don't you get it? (I guess not). Why would China be so STUPID as to continue exporting to us when WE CAN'T PAY for their goods! We have NO MONEY- no real savings or products to pay for their exports with! They haev their own people and many other countries they can sell their products to and get paid back with much stronger currencies than our dollar/

It sounds like you've been listening to 80% of the so called "experts" who also have been WRONG WRONG WRONG about the economy and where it is headed and what it needs to recover.
Why indeed. Lets see China's currency is tied to the US dollar. They have a fixed exchange rate which they keep within a narrow band. This allows them to keep their currency low relative to the dollar. To maintain this they buy and sell lots of T-bonds to keep their currency in that range to keep exporting. Now why did they choose the dollar? Because it is the strongest. What else would they choose. The Euro with its sovereign debt problems. What about the Yen with its own massive debt problems from trying export led growth. How about the Pound that is at the whim of the US economy and will collapse when American investors need to meet margin calls. Simply put a more stable, liquid currency then the dollar does not exist.

China does have their own people, but the vast majority of them live in dire poverty. Westerners see Shanghai and Beijing, and think we are in trouble. What they don't see is Gansu, Guizhou, Yunnan and the vast majority of interior China.

China wants to build domestic markets, but they have relied on inflation to push exports which has stiffled that and as such they need to keep on the same path to keep stability. If you knew China you would know they have economic problems stemming from inflation that make our problems look minor.
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Old 08-06-2011, 03:55 PM
 
912 posts, read 1,328,910 times
Reputation: 468
Good America, can start manufacturing it's own products and services . It isn't a bad thing to see the made in china label disappear from our store shelves and replace it with made in america .
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Old 08-06-2011, 04:05 PM
 
Location: State of Being
35,879 posts, read 77,210,728 times
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Quote:
Originally Posted by edwardianlady View Post
Good America can start manufacturing it's own products and services . The chinese can kiss my butt to put it nicely .
Edwardianlady, I agree that we should not buy Chinese goods - been saying that since the late 90s when I realized stores were flooded w/ their stuff.

But the problem is - our manufacturing plants and factories no longer exist. Most people do not realize that textiles and furniture, for ex., no longer are made here in NC, other than some small private label businesses (and folks who upholster in their garage or basement). And the textiles mills are basically gone, as well (the big names, i.e. Cannon, Stevens, etc). All the plants shut down - some have been razed - and the equipment sold.

This means we CANNOT simply start making our own goods. Not unless folks have millions of $$$ to start up a plant again . . . and it really is millions . . . plus the workers have spread to the wind. Who knows who is still out there who could quickly step into those jobs at any one given location.

We have ourselves in a MUCH worse mess than folks realize. You see, the Chinese know this - they know our plants and factories are no longer on our soil cause they were moved to China. So this means the Chinese are gonna start RAISING PRICES of the goods they sell to us.

THey got us hooked! Now they are gonna raise prices and there isn't a damn thing we can do about it.
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Old 08-06-2011, 04:08 PM
 
5,756 posts, read 3,983,549 times
Reputation: 2308
Quote:
Originally Posted by emilybh View Post
Sounds like after the news of the downgrade China is shutting us off. No more endless borrowing and no more Dollar as the reserve currency. It is finally time to take our medicine.


"The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," China's official Xinhua news agency said in a commentary.


WRAPUP 7-China tells US good old days of borrowing are over | Reuters
SCREW THE CHINESE they have our jobs they best shut the F*** UP or we will stop consuming and then they would be up S^!t creek without a paddle.Their products suxs anyway I hate WALLYWORLD too....if you want to knock down our debt start with a job exporting tax on companies that locate there like freaking no tax paying job exporting G.E...
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