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Ignore it if you wish. This will take longer but I was told over and over and over that I was wrong when I said oil would collapse as soon as Q.E. ended.
I'm patient.
It has to be related to some degree. Just not the proximate or only cause. Oil started to crash June of last year, QE ended in October.
China has a long way to go before the yuan will be a significant world reserve. Even fast tracked, IMO not short or medium term. 10 -25 years I would bet it will happen. I would also bet the USD in that time frame is still very much in demand. I would not be surprised to see eventual Yuan/USD distributed in the world as per our current political global alliances. I might not be around to invest and gain on it, but I will educate my kids.
China has a long way to go before the yuan will be a significant world reserve. Even fast tracked, IMO not short or medium term. 10 -25 years I would bet it will happen. I would also bet the USD in that time frame is still very much in demand. I would not be surprised to see eventual Yuan/USD distributed in the world as per our current political global alliances. I might not be around to invest and gain on it, but I will educate my kids.
I said it won't be as immediate as QE was on commodities but its not just China. It's going to be Russia and India also at the very least.
We won't be in a good position to do anything about it 70 trillion in debt.
I said it won't be as immediate as QE was on commodities but its not just China. It's going to be Russia and India also at the very least.
We won't be in a good position to do anything about it 70 trillion in debt.
It will surely take more than a season of time.
In order for any sovereign currency to be a useful world reserve it has to be created and then distributed throughout the world in vast quantities. It will take a long time and many new trillions of Roubles, Renminbi or whatever currency. So pick a future reserve nation and create many new trillions of secure, stable, freely tradable and liquid units of their currency/debt and there you go.
China has a long row to hoe. Russia and India will stay 2nd world IMO.
I guess a nation could choose to create all their money de novo, without the debt. But I don't think that the world would consider it as reliable.
Shame on both Parties for mortgaging our children's future. How does Obama and the Rinos not take more heat for this is beyond me. Sadly I think we've reached the point where people are so irresponsible that if you asked them "would you still support entitlements now if u knew it meant complete financial collapse in 30 years" most would say yes. Thank you liberals for corrupting a generation.
In order for any sovereign currency to be a useful world reserve it has to be created and then distributed throughout the world in vast quantities. It will take a long time and many new trillions of Roubles, Renminbi or whatever currency. So pick a future reserve nation and create many new trillions of secure, stable, freely tradable and liquid units of their currency/debt and there you go.
China has a long row to hoe. Russia and India will stay 2nd world IMO.
I guess a nation could choose to create all their money de novo, without the debt. But I don't think that the world would consider it as reliable.
I can see China and Russia conspiring (not really the right word)........working together in knocking the dollar off its perch.
It will take time but the worse it's going to be for us as long as we continue on our current debt path.
A smaller government with a smaller checkbook is the ONLY answer.
Would probably help if the Obama's would stop with all the vacationing!
Along with the cost of each illegal brought in. If each refugee cost $20,000 X 25,000=$500,000,000.......
just how many have we bought to come to America!
I don't think this has anything to do with baby boomers, as one poster suggested.
Quote:
Originally Posted by Old Gringo
FYI...
The GOP congress does the spending.
Now you know.
Yes and they have okayed paying for each refugee coming to America.
We can experience runaway inflation. But we aren't. The reason we aren't is because the u.s. financial position is actually quite strong, contrary to what the nutters say.
If you think 20trillion in debt is excessive, just look at the amount of debt in the private sector. It puts the government to shame.
If I borrow money as a business the expectation is not only will I generate enough revenue with it to pay the loan back but I'm also going to put money into my own pocket. Loans to business are typically for capital expenses, suppose you are a utility that is going to build a billion dollar power plant that will take 25 years before you see a return on your investment. The bank is going to be paid back over 25 years, you will put money in your pocket for the next 25 years.
If I borrow money as a business the expectation is not only will I generate enough revenue with it to pay the loan back but I'm also going to put money into my own pocket. Loans to business are typically for capital expenses, suppose you are a utility that is going to build a billion dollar power plant that will take 25 years before you see a return on your investment. The bank is going to be paid back over 25 years, you will put money in your pocket for the next 25 years.
Much of national debt does the same thing. For instance we build public roads/bridges and for the next 25 years there is then more local commerce, business and travel. That road improves local business and pleasure for the next 25 years. The big difference here is that the Federal Gov't does not need to 'pocket' any money. That is a pleasure that should be reserved for the private sector. if the Federal Gov't 'pockets' money, that necessarily means a reduction in that same amount of money from the private sector.
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Leftwing Policies Bankrupting The Nation
