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  1. #101
    nee andante bechimo's Avatar
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    Quote Originally Posted by Magic Poriferan View Post
    I'll just throw this into the line of discussion.

    The USA is screwed if it can't regain some domestic productivity. This probably leads to the unpleasant task of weening off of China.
    Considering the amount of gov't backed debt instruments they hold, this could turn into a blood bath and not for China.

    Junk bonds?

    http://www.reuters.com/article/2011/...011+MW20110715

  2. #102
    ^He pronks, too! Magic Poriferan's Avatar
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    Quote Originally Posted by Jenaphor View Post
    Considering the amount of gov't backed debt instruments they hold, this could turn into a blood bath and not for China.

    Junk bonds?

    http://www.reuters.com/article/2011/...011+MW20110715
    I'm aware. Between a rock and a hard place I'm afraid.

    China has their own vulnerabilities tied to us, which is the only logical explanation I can come up with for why they are now proposing to make the Yen an exchange currency. Distance from the American Dollar.

    We're like Tony Curtis and Sidney Poitier in The Defiant Ones.
    Go to sleep, iguana.


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  3. #103
    pathwise dependent FDG's Avatar
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    China just needs to let the peg go (they're slowly trying to do it).
    ENTj 7-3-8 sx/sp

  4. #104
    pathwise dependent FDG's Avatar
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    Quote Originally Posted by Not_Me View Post
    This might be the last chance to impose a more egalitarian system on the world before Western influence is eclipsed by cut-throat capitalist developing nations where disparity is considered to be something to be proud of by the wealthy.
    How would an egalitarian system make things better in terms of wealth?
    ENTj 7-3-8 sx/sp

  5. #105
    Senior Member Survive & Stay Free's Avatar
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    Quote Originally Posted by Not_Me View Post
    This might be the last chance to impose a more egalitarian system on the world before Western influence is eclipsed by cut-throat capitalist developing nations where disparity is considered to be something to be proud of by the wealthy.
    Well then it'll play out like every other attempt to impose a more egalitarian system. It'll fail. The McMafiosi will point the way.

  6. #106
    Senior Member Survive & Stay Free's Avatar
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    Quote Originally Posted by MoneyTick View Post
    That old debt ceiling jabber sickens me. Come on - they've already raised it eleven times in the past decade! Let them keep raising it another twenty until they look like ridiculous fools. They were having the same debate in 1979; that same fiery and controversial bulshiteering from the congressional theater of real-world drama is in re-play session. It doesn't mean a thing.

    The US Government has breached the 100% debt-GDP level, our deficit is worse than Greece (however, it bears less weight since we can yield higher growth), and it will take a decade or more just to pay the interest on our debt.

    We're still treading water only because of our world currency prerogative.

    However, the low-profile transaction Bill Gross initiated to short sell treasuries means a double dip is on the horizon. Thank goodness for short-selling! I can't wait to make some money off the harvest of barren regrets these fools in congress are cultivating. Another round of Zimbabwe style QE3 chemotherapy from Doctor Bernanke, and commodity prices will be on a rocket to space.
    I think that's what it comes down to, petro-dollars, the EU isnt going to seriously try and substitute Euros for Dollars when it comes to petro-dollars, the moves back before the Iraq war with the possibility of Syria adopting it as an oil trading currency I dont think were serious and the talk in Germany about a reasonable "Pax Europa" replacing "Pax Americana" which itself had replaced "Pax Britannia" was just cloud talk.

    I often ask US libertarians/free marketeers/radical patriots do they know about that because seriously, if they want to restructure their economy and society back to how it was when the constitution was fashioned they can but they will need to accept a totally different geo-political system. Surprisingly, or perhaps not, those issues havent featured in their thinking so much as obsessing about benefits and domestic taxation.

  7. #107
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    Quote Originally Posted by FDG View Post
    How would an egalitarian system make things better in terms of wealth?
    The same question could be asked of cut throat capitalist systems. A fairer system might not create more wealth, but it will allow more people to keep a bigger slice of what they produce.

  8. #108
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    Quote Originally Posted by Lark View Post
    Well then it'll play out like every other attempt to impose a more egalitarian system. It'll fail. The McMafiosi will point the way.
    The quest for greater egalitarianism has not failed. The current Western systems are much fairer than the feudal values of bygone days.

    Greed comes naturally. We don't need our governments helping the rich to behave more greedily. Look at China. A generation of genocide and indoctrination has been completely unsuccessful at eradicating the tendency. They make us look like commies. They will be the next world power. We need to set a better example while we still have a voice.

  9. #109
    Senior Member lowtech redneck's Avatar
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    Quote Originally Posted by Magic Poriferan View Post
    The USA is screwed if it can't regain some domestic productivity.
    Which is why high taxes and suffocating business regulations are a pretty bad idea right now...

  10. #110
    ^He pronks, too! Magic Poriferan's Avatar
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    Quote Originally Posted by lowtech redneck View Post
    Which is why high taxes and suffocating business regulations are a pretty bad idea right now...
    The USA has no where near either of those things at present, so we have working room.

    Also, wasn't our greatest period of productivity also combined with the most regulation and the highest income taxes?
    Go to sleep, iguana.


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