As I've said before, the Chinese (and the Russians as well) will control every move we make. It is in their best interest, as they ultimately will be the most affected when we default on our debt.
As I've said before, the Chinese (and the Russians as well) will control every move we make. It is in their best interest, as they ultimately will be the most affected when we default on our debt.
Sure, but our man Joe Biden, the foreign policy expert, assures us that the Ruskies are down and out and gasping for air so they have to deal with us.
Needless to say, that did not go over well with the Ruskies. Obama goes over and sweet-talks them and then Joe the Diplomat plunges us back into the cold war. What a guy. Undoubtedly Obama and Hillary smoothed it over with the Russians backchannel by quietly explaining to them that Joe Biden is an idiot. What else can they do?
Go back 10 years and start a newletter in which you predict that China will be calling the shots on the U.S. economy, GM will be bankrupt and government/union owned, multi-multi trillions in debts and deficits, and a black socialist president with the middle name the same as the president of Iraq.
You would sount pretty nuts, I'm guessing.
I don't think you can say anything about the future these days that would sound at all impossible.
As for the Ruskies, yes, there is a lot of turmoil over there. Fortunately, they can still produce goods and services others want. Especially for countries who are on our s*** list! As long as we keep a "do not sell" list, the Russians and the Chinese will be able to sell 10 times what we can!!!
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Well put!
As for the Ruskies, yes, there is a lot of turmoil over there. Fortunately, they can still produce goods and services others want. Especially for countries who are on our s*** list! As long as we keep a "do not sell" list, the Russians and the Chinese will be able to sell 10 times what we can!!!
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The Chinese are on the business end of our debt ... we pull the trigger they get thier head blown off, we have all the power, make no mistake.
The only thing they control is the amount of debt they buy ... there is no shortage of buyers they are just willing to pay the highest price for it ( or accept the lowest interest rate ) because we are thier biggest consumers and our debt is more precious than gold. They only took over the Japanese as the largest debt holder last year.
Last edited by AgentOrange : 07-29-2009 at 07:43 PM.
The Chinese are on the business end of our debt ... we pull the trigger they get thier head blown off, we have all the power, make no mistake.
The only thing they control is the amount of debt they buy ... there is no shortage of buyers they are just willing to pay the highest price for it ( or accept the lowest interest rate ) because we are thier biggest consumers and our debt is more precious than gold. They only took over the Japanese as the largest debt holder last year.
Okay, fine then. But they aren't the largest debtholder, just the largest foreign debtholder. I'm glad you brought it up though, because hopefully there are some folks here on the forum that can use the backs-and-forths to check the information for themselves!
I've never said "the sky is falling" but I do believe things will get worse. In fact, I believe the only way Obamacare will get pushed through is by further deterioration of our economy.
. But trust me " Chicken Little " the sky is not falling.
It is a matter of perspective. We are plunging straight toward becoming a European socialist economy with chronicly high unemployment, permanently flat or sluggish growth, state ownership or strangulation of key sectors, chronic hyper-inflation, loss of entrepreneurial incentives, and chronically high taxes with half the population employed in the public sector, eventually.
For the libs this is considered progress because it will result in additional state benefits. For others, the sky may not be falling but it is certainly coming closer to the the ground.
Very well put, Winter! As long as capitalism appears to be in place, all is not well.
Expect more unemployment.
Expect higher taxes.
Expect more government "services".
Just wait til the cost of capital goes up so high that business simply won't be able to expand. Total meltdown.
The sky will still be there, but hey, look at the bright side - a whole lot less pollution, not because of any environmental foresight, but because things have slowed or shut down.
All the trending towards flat, gray, featureless, no incentive to excel, 1984, Brave New World, Euro-socialism stuff is indeed bad enough.
But the real Chicken Little stuff heaps on gross overpopulation, plague, starvation and the usual apocalypse sort of stuff.
The fact is the world is too complicated to continue on the way it is. I've given this a lot of thought, especially after seeing how quickly things unraveled after Katrina --and that was just a localized problem. When things start to break down, it becomes a house of cards. Electricity goes out, then the cell phone towers with their 3 hour battery backup, then the Internet, the ATMs, the grocery stores, the gasoline, people start looting, shooting and dying.
Things are so complex, that any blip in transportation, computer communication, and so on, can cause a chain reaction that will lead to some pretty scary stuff. And nobody is prepared. Watch how quickly investments evaporate into cyberspace leading to panics that will make anything that has happened in the last 2,000 years look like nothing.
Seriously, I think the only wise investment right now is to buy 100+ acres as far away from population centers as possible, put in a well and some sustainable crops.
Oops, got to go now. Have a telephone conference that is going to tell me how to sell more insurance.
So you are implying European "socialist" countries have a higher unemployment rate than the U.S.?
Once again Winter youre just making facts up.
I guess its easy to tell people what they want to hear ...
You didn't read what I actually wrote because it was not convenient for your view. I said "chronically high unemployment."
The economies of socialist governments tend to be flat as pancakes. In free market economies, prior to all the foolishness that we are into now, there could periods of high growht and low employment but also periods where there are corrections. If your economy is on the public tit you will not have the highs, nor will you have the lows, everything in those economies is just peanut-buttered together. Similarly, if you work in France, your chances of losing your job are extremely remote given the government and union protections but, again, the economy has been as flat as a pancake for decades (except that they have more interest in capitalsm under Sarkozy and there has actually been some limited lay-offs and an elimination of the 35 hour work week to help overcome the devastation and lethargy that socialism has caused).
In addition, it is interesting that you point out that many of the European socialist economies have lower unemployment rate than the US. That is why they would not go along with Obama on his request for a global stimulus plan, beyond the pittance that those countries put up early on. They cautioned that the Americans were becoming more socialist than they are. Something to think about isn't it.
Oh, hold on. The dems are delirious over the fact that the cash for clunkers programs has actually sparked a lot interest. Finally they have figured out supply and demand. Gee, paying people to buy cars from government- owned automakers. Now there's a real entrpeneurial barn-burner right there. Next year the Pelosi-mobile will be rolling right off the government production lines and I bet it will be a real cream puff. Something that would make any East German nostalgic.
Of course if you take Obama, Dodd, and Barney and added their experience together, there is not one who has any, and I mean any business experience, and they voice nothing but contempt for the private sector and can think of nothing that the government couldn't do better.
Actually, I take that back a little. Barney had some business experience when he went through that period of running a homo prostitution business out of his apartment in D.C. Most likely I made that up too, except for the little matter of the House censuring him and it being part of the record, eh?
He didn't state the obvious, although I bet he realizes it. What he describes was exactly the situation early in the Depression. The rest of the world was coming out while we were going deeper in as the result of FDR's policies -more regulation, more taxes, the government sector sucking up resources, and a huge anti-business bias.
Re: Dow at 9000?
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