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Old 08-06-2011, 07:32 PM
 
Location: Maryland
18,630 posts, read 19,336,335 times
Reputation: 6460

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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
Winding down our military complex is exactly what China wants so the USA has to be careful in regards to winding down its operations around the world. However unless the baby boomers are willing to forgo Social Security and Medicare the military is going to be looking at some draconian cuts in the future.
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Old 08-06-2011, 08:06 PM
 
Location: Great Falls, Montana
4,002 posts, read 3,890,619 times
Reputation: 1398
Quote:
Originally Posted by Randomstudent View Post
The Dollar is the only game in town ...
Sure .. U-bet .. that's why the Japanese had to use "billions" of their own currency Friday, in order to keep the almighty, infallible USD, from caving in on itself against the Yen ...

Nice try though Random .. nice try ..

The USD .. not quite as soft as Charmin .. but might still work just the same.
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Old 08-06-2011, 08:45 PM
 
Location: NC
9,984 posts, read 10,351,321 times
Reputation: 3086
Quote:
Originally Posted by bigskydude View Post
Sure .. U-bet .. that's why the Japanese had to use "billions" of their own currency Friday, in order to keep the almighty, infallible USD, from caving in on itself against the Yen ...

Nice try though Random .. nice try ..

The USD .. not quite as soft as Charmin .. but might still work just the same.
So why did the Japanese have to use billions of their own currency? Is it because the Japanese are just nice people? No. Is it because Japan like China has a loose currency peg to the dollar that they use for economic growth? Why yes it is. Would Japan, like China, be up s*** creek if they had to let their currency float? Absolutely. Is there any other currency the Yen could be pegged to that sufficently liquid and stable not really. There is the Euro, but that is far less stable then the dollar.

The fact of the matter is China, Japan and other nations mooch off the USD so they can have stable currencies and export things. Its one hell of a trick for a moocher to convince someone who is being mooched off of that they are being irresponsible if the moocher has to pay some of the bills once in a while.

Last edited by Randomstudent; 08-06-2011 at 08:55 PM..
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Old 08-06-2011, 08:56 PM
 
Location: Great Falls, Montana
4,002 posts, read 3,890,619 times
Reputation: 1398
Quote:
Originally Posted by Randomstudent View Post
So why did the Japanese have to use billions of their own currency? Is it because the Japanese are just nice people? No. Is it because Japan like China has a loose currency peg to the dollar that they use for economic growth? Why yes it is. Would Japan, like China, be up s*** creek if they had to let their currency float? Absolutely. Is there any other currency the Yen could be pegged to that sufficently liquid and stable not really. There is the Euro, but that is far less stable then the dollar.
The Japanese had to put more of their Yen "out there" because it was killing the dollar .. they had to cheapen their own, so the dollar wouldn't collapse against it .. This is how "devalued" the dollar is.

Dollar devaluation will bankrupt ... If the USD crashes .. it will crash all who hold it ..
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Old 08-06-2011, 09:11 PM
 
Location: NC
9,984 posts, read 10,351,321 times
Reputation: 3086
Quote:
Originally Posted by bigskydude View Post
The Japanese had to put more of their Yen "out there" because it was killing the dollar .. they had to cheapen their own, so the dollar wouldn't collapse against it .. This is how "devalued" the dollar is.

Dollar devaluation will bankrupt ... If the USD crashes .. it will crash all who hold it ..
That is what they do and that is why they are moochers. Japan and China don't buy T-Bonds to make money. Japan and China buy T-bonds because their entire economic strategy is based on pegging their currancies to the dollar and printing money for the purpose of exchanging it for dollars. The goal is to keep the dollar strong so they can export. They simply buy T-bonds as a place to put their dollars that they get from these open market operations. They really don't care about losing billions in T-bonds what they care about is keeping their currancies low so they can export and keep their unemployment low. If the dollar declines, they will fire up their printing presses so they can get their currancies even weaker. It is all 100% about exports and domestic employment in Japan and China. What they don't like is that when the USD gets weak then their strategy causes inflation and that messes with their ability to mooch.

Now they will complain about losing money on T-bonds, but what they are really complaining about is that they will have to deal with more inflation to keep the export-led gravy train on the tracks. That is also the reason the b**** and moan so much about quantitative easing because they don't want the US to do the same thing they are doing because that would mean they would have to deal with even more inflation.

Last edited by Randomstudent; 08-06-2011 at 09:20 PM..
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Old 08-06-2011, 09:16 PM
 
Location: La lune et les étoiles
18,258 posts, read 22,444,829 times
Reputation: 19593
Quote:
Originally Posted by anifani821 View Post
OMG - ROFLMAO!!!!!

My big laugh for the day!

But in all seriousness . . . I pray that across this country, folks will realize how important it is for us to start insisting that we are SELF RELIANT. We need to get back to basics and not cave in. We have become a consumer society rather than a "producer" society.
Exactly.

We need to stop the pointless bickering (over nonsense like 'where the birth certificate or so-and-so is a socialist) and realize that we are being undercut, undersold and undermined by the Chinese.
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Old 08-06-2011, 11:35 PM
 
5,756 posts, read 3,976,987 times
Reputation: 2308
Quote:
Originally Posted by Supachai View Post
China is America's largest creditor, so of course they are concerned about our credit rating and the way the US manages its finances. I think they have the right and the place to criticize the US. To put the China vs US financial situation into perspective, we have over 14 trillion in debt, while China has almost 4 trillion in savings. They are building up, while we dig further in the hole. And we argue that we need to increase our debt?
GEEZ its just paper and ink for Gods sake BONDS promise to pay a note to the money we print to make Monopoly money.WORTHLESS....Blame Congress they shipped our jobs to CHINA. Its all about money and power...WE BROKERED A DEAL WITH THE DEVIL...reaping what we sowed.

We need to return to what the founding fathers wanted and that wasn't big government or a military industrial complex...what? i say something a little liberal ...do you really disagree with me you hateful libs?

We need to end these two major wars worry about our own...I'am not angry at Supachai they are provoking free thought this debt is killing US.

Last edited by Dumbdowndemocrats; 08-06-2011 at 11:52 PM..
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Old 08-06-2011, 11:43 PM
 
645 posts, read 1,271,637 times
Reputation: 1782
Quote:
Originally Posted by malamute View Post
Good. If we can't borrow, then we can buy up all that crap they're making over there.

It had to end at some point in time.
Yea, but the problem is that China's gotten big enough that they're getting to the point where they don't need us. We gave them the economic shot in the arm that they needed from 1995 until today. I'm sorry, but it's a bit late for that sort of thinking...
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Old 08-08-2011, 10:23 AM
 
2,514 posts, read 1,980,087 times
Reputation: 362
Quote:
Originally Posted by Mircea View Post
Make up your mind. People can't be buying homes and saving money at the same time.
Yes they can if you print the money they need to be saving and give it to them also if the minimum wage were to be raised to a more functional level then there would be the excess income to save.
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Old 08-08-2011, 10:47 AM
 
10,854 posts, read 9,266,956 times
Reputation: 3122
Quote:
Originally Posted by sickofnyc View Post
What's Walmart's motto?
Shop Walmart...Live Better! and the Chinese certainly are as they go one shopping sprees at Harrods of London.

American suckers.
And in many cases American corporations are HELPING the Chinese go on their shopping jaunts to Harrord's by setting up American factories, distribution centers, research and development centers, and retail outlets in China.
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