Fed chairman, Ben Bernanke, has begun implementing his QE2 to combat deflation. This is de facto devaluation of the dollar and its goal is to create some inflation so people will spend. Another side effect of devaluation is making American goods cheaper for exports. The thinking is that cheaper American goods will lead to demand for these products and thus create jobs. The problem is this will not work in today’s environment as the US doesn’t produce much for export anymore. The Economic model pushed by both parties was to have Americans as consumers, not producers. The truth is this QE2 gamble will not kick start the US economy.
A weakening currency traditionally helps a country raise its exports and create more jobs for its workers. But the declining value of the dollar may not help the United States increase economic growth as much as it might have in the past.
Though a weakened dollar would help exports to some degree, business executives and economists said that because of the ways American multinational companies operated, it was uncertain whether it would cause much of an increase in hiring.
[...]
Even when a company enjoys a relative surge in foreign sales, it won’t necessarily lead to a hiring spree. That is because the largest proportion of American exports are still manufactured goods, which are no longer so labor-intensive.
And many of the companies that still manufacture in this country are businesses that have not gone offshore because they are too small to justify setting up overseas operations. A weak dollar can help their businesses, but it may not prompt a wave of hiring.
Read the rest: Weaker Dollar Seen as Unlikely to Cure Joblessness
At this point the Federal reserve and the Obama administration are using gimmicks to get the economy going. The only solution is to massively reform our tax code and regulatory system to make America attractive to foreign capital. This is what will create jobs, not a currency devaluation. Many nations around the world have tried currency devaluations and the result was economic stagnation. Until hard choices are made in regards to our fiscal situation, America will continue to be the sick man of the global economy.
Tags: Ben Bernanke, Federal Reserve, Global Economy, Obama Boom, US Dollar
Not a fan of QE2, but the article itself is pretty confused. They can’t seem to decide whether the goal is higher employment or higher profitability for hollowed-out domestic corporations. Those are two very different things.
It’s now cheaper for me to go to the States and purchase dead tree edition books due to the near parity between Canadian and US dollars. A paperback I recently purchased had a MSRP of 7.99 US and 9.99 CAD. Or I go online and purchase e-books with only paying about a couple cents difference. Currently I am in a winning position. I don’t see this lasting for long though.
I know nothing about economics. Who wants to talk about shoes?? lol
I don’t think QE2 is primarily about stimulating the economy. I think it is about stealing wealth from people who have assets in the form of US dollars, certificates of deposit, bank accounts, or treasury bills. Govt printing money with nothing behind it is essentially legalized counterfeiting, which is a form of theft from anyone who has any dollar-tied assets. This includes not only foreigners who hold treasury bills, but also the hundreds of millions of American citizens who do so, and who have money in savings accounts, checking accounts, piggy banks, etc. Every US dollar represents less wealth (literally) every time the Government prints money (via the trick of QE) with nothing behind it. Do you have any money in the bank? Well, the government is stealing some of it from you every single time they do “quantitative easing.” You don’t see the numbers themselves go down, but what you can buy with it (i.e., its value) decreases. That’s theft, folks.
snork wrote:
\Yeah it is confusingh. Either way QE2 is not the answer. What we need is a new tax and regulatory structure for a globalized economy.
the fed is trying to prevent deflation, this QE2 is a very risky move.
and…why is it the chinese can hold down the yuan for the last 20 years at much less than ‘real levels’ to ensure cheap exports and full employment, but we arent allowed to mess with our values in forex?
snork wrote:
No problem, neither can the administration.
As a corollary to my last post: Your personal solution is to put most of your “money” into tangible things such as precious metals, real estate, or other physical products that have intrinsic or widley-recognized genuine value, and (ideally) can hold that value for a long time without excessive degradation.
@ My 2 Cents:
This is what many Latin American countyries did in teh early 70′s/80′s to pay off their debts. The result was a lost decade and high inflation and poverty exploding.
coldwarrior wrote:
Actually, I believe it’s because the U.S. is perceived as, simultaniously, the world’s adversary as well as its savior.
the feds mandate from congress is to maintain stable prices and promote as much employment as possible.
guess what, the pump is on full blast and no hiring, so the fed has only one tool, the money supply/interest rates. the fed is doing exactly what it is chartered to do within the parameters that it is allowed to function by law.
until we get real reform and less regulation and regains some manufacturing power, the fed is pushing on a rope.
What this really means is that they are at the end of their ropes, so they are trying printing money. That has never worked out well for any nation that tried it, from the Old Confederacy to modern Zimbabwe, but, like Socialism, this time is different. We have the real genuses in charge, God help us. You know, I had really hoped to have a good life from here on out, but Obama seems bound and determined to impoverish me, and then get a civil war going for the entertainment value of it.
MacDuff wrote:
we could use a little competitive devaluation against the chinese, frankly.
the field is titled toward them and the threat of QE2 is making them very very nervous.
@ Rodan:
It is how the Confederacy tried to finance their side of the Civil War. How did that work out again?
@ Rodan:
You’d think if the Russians could go flat-tax and low capital gains, we’d want to follow suit. But, noooooo, we have to give Socialism anothe shot at destroying the economy. There is no doubt that had McCain been elected things would be better now.
@ My 2 Cents:
It’s actually simpler than that. QE2 is a way for the treasury to auction off bonds without any real investors out there to buy them. It’s a sham auction, because the Chinese and others aren’t buying. All the rest is just rationale.
What they don’t want to come out and say is that all the “benefit” from a weaker dollar comes as a consequence of inflation. IOW, inflation is a feature, not a bug.
The reason why this might not make US goods more competitive as it has in the past is that US investment is currently being limited by uncertainty, particularly over government regulation. Until investors can feel like they can make an investment and the rules won’t change, they’re going to build in Asia or some other continent. Making dollars cheaper won’t help that. We may bring production capacity up to 100% of actual capacity, but forget about expansion, or even replacing obsolete capacity. That’s why we’re frakked. There isn’t even an understanding and consensus among our business and government leaders that we want manufacturing unless it’s this “green” fantasy. Until that changes, we’re truly frakked, and no monetary policy will change that.
But with the dollar approaching the status of the old Italian lira, we still have time and money to redesign the penny.
Anybody else noticed the new American penny? The Lincoln Memorial is gone from the back, and instead there’s some sort of cheap-looking shield that makes the thing look like an Asbury Park ride token.
coldwarrior wrote:
I’m very concerned about starting an inflationary condition that could get out of control.
coldwarrior wrote:
That’s what I said, but in fewer words.
@ buzzsawmonkey:
That probably cost $.50 for every peny we produce. Stimulus!
@ MacDuff:
That is what worries me. Kicking off inflation is like starting a fire and the only thing you have to put it out with is gasoline.
@ NoThreat2U:
Check these puppies out. I have the perfect outfit too! You would think they’d be on sale by now, but nooooooooooooooo.
:-/
(and to tie it into the thread)
At the rate they are going, I’ll only be able to afford ONE FRIGGEN SHOE!
Hey, she asked for it!
m wrote:
What the hell is that? Roman dominatrix footwear?
Inflation is redristributive change. You have to understand that it’s a feature, not a bug.
As I see it three things got us into this mess.
First is unreasinable union demands, which led to our second
mistake NAFTA. NAFTA was sold as “free trade.” How could anyone oppose
free trade? The problem is that our domestic goods inluded wage & benefits labor costs that are geometrically higher than the benefitting trading partner. ERGO we hardly manufacture anything.
The third mistake was tying our economy to housing & then pushing the Community Reinvestment Act.
Just my opinion.
@ coldwarrior:
CW,
When nothreat shows up here, let here now I sent her an email and she can call me. I left here a reply down thread but she may miss it.
I have to leave to pick up the kids and will be gone for a bit, so thanks for the help if you can
Thanks,
Scott
qe2 is doen in monthly steps, it can be stopped at any time.
i think this is more a threat to our trading partners than a real policy.
@ buzzsawmonkey:
LOL! Whatever they are, they kick ass … and I WANEM!
~:D
buzzsawmonkey wrote:
It said Furry. The Kinky Kiddies at the zoo are into that kind of stuff.
Market intelligence analyst Jim Rickards tells Eric King of King World News that “quantitative easing” is not about helping the U.S. economy but rather about destroying U.S. debt and the dollar and daring China to sell its U.S. Treasuries back to the U.S. government. Rickards’ comments come in the first of a two-part interview with KWN and you can listen to it here:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/11/6_J...
@ coldwarrior:
After they dropped the MOAB of QE1…
Currency devaluation is pure redistribution of wealth. It is thoroughly destructive and utterly unjust.
It is completely philosophically consistent for this administration, and yet they have to sneak around the back door and call it things that mask what they are doing. I wonder why.
@ snork:
So you are taking fashion tips from IceWeasel? Have you seen a doctor about that?
buzzsawmonkey wrote:
It’s “Fashion”, don’t ask any further because the answers you get won’t make sense. Happened to me once along time ago, and my mind is still reeling from the answers.
/that which is seen, or heard, can not be unseen
@ snork:
FERGIE! LOL!
NoThreat started it! Then she ran out on me!
@ m:
NoThreat posted a link to some Chinese shoe mfgr. that had to be selling knock offs because the price on ??Louboutins was ridiculous, it was somewhere on the overnight. Maybe they have a similar style?
coldwarrior wrote:
That is exactly what this is all about, it’s an asymmetrical economic act of warfare against the Chinese, who in Oct. (on the 18th I believe) of 2007 attempted to crash the US economy by withdrawing 500 BILLION dollars out of US short term treasury bonds in a 4 hour period.
This is what that missile off the coast of California was all about and what this little article is all about.
Chinese ‘Hijacked’ U.S. Web Traffic
The Chinese opened a can of serious hurt on themselves back in Oct. of 07, now they are trying to put the pissed off genie back in the bottle. The US doesn’t command 1/5th of the worlds economy by accident, believe me when I tell you this, this is going to get ugly.
@ snowcrash:
ooOOooo ~ I do so love a sale!
~:D
I ain’t too proud to wear knock-offs! LOL!
I’ve never actually laid eyes on that thing, but I will bet that
she could punch her face into dough & make animal crackers.
yenta-fada wrote:
Exactly see my post number #39 to coldwarrior.
@ doriangrey:
i also believe ben and the fed board are taking a shot at the chinese, just my opinion
m wrote:
Those actually look comfy to me
My 2 Cents wrote:
Yes it is theft. They are still giving out bonuses to bankers. (I have a link somewhere from this morning) I agree, once again, that tangible assets are the way to go. If you can drop it on your foot and it hurts, it’s tangible. You don’t have to try that at home./
This is an endgame set up for paper currencies, IMVHO. Greenspan’s years of encouraging low interest rates and monster derivative bets created this. It has been hyper-fueled by an economically illiterate administration that got into a drunken stupor on government handouts.
It has made hedge fund managers, puppet masters like Soros, and investment bankers into billionaires. Dollars (including Canadian ones) are only good for paying bills and buying stuff that’s cheap at the moment. Savings should pay off debt and/or buy more tangible forms of wealth. This has been a repeated announcement by yenta-fada since 2007 at the swamp. It’s also possible that they will continue to halt foreclosures if the system freezes up at any point. Last weeks G20 proved that the leaders are frozen in the headlights.
Cheney Mocks Obama at Bush Library Groundbreaking
/man Chaney looks THIN!
:-/
Obama called the Medal of Honor recipient today, “As humble as he is
courageous.” Two very alien concepts to BHO
coldwarrior wrote:
The U.S. cannot afford to take a shot at the Chinese in my opinion.
Hey M…I ain’t to proud to wear knock offs either. lol lol I can’t wait to buy a Christmas outfit this year. Woo woo!
@ NoThreat2U:
Don’t they? Ankle support and e’rything!
Trade wars and currency wars never end well.
@ m:
I really like these, but only if they were red:
http://www.giftag.com/jack-larry/items/spike-high-heel-pump-with-ankle-strap-pumps-designer-womans-shoes-zaphonshoescom/
Click the shoe for a bigger picture.
yenta-fada wrote:
cant afford not in my opinion.
@ doriangrey:
It is my belief that China does NOT like international economic instability. They certainly don’t want to dump U.S. treasuries all at once because that will not only repudiate the dollar, but will be felt around the world. The Euro is undergoing another form of quantitative easing by attempting to rescue its weaker members. i.e. everyone except France and Germany. China is much more interested in keeping its people from massively revolting if their own economic conditions become dire. It has more to fear from its population than the U.S. does. The U.S. population fears its government, which leads to different measures. The hungry mouths to feed in China and regional considerations are more important to the Chinese than messing with the U.S. military.
coldwarrior wrote:
The Chinese are incredibly arrogant and stubborn, fortunately for us they are also quite intelligent and not suicidal. If they think they can win by force, they will use force in a nanosecond. If they don’t think they can win by force they will threaten and bluster to see if they can bluff their way to a victory (Sun Tzu all the way).
What they will not do is commit to a direct military confrontation they do not believe they can win. But make no mistake about this, they love “court intrigue” or deceptive international politics and they are very good at it.
Unlike the rest of us, they have had 5000 years of pretty much unbroken practice at it. If we try to play their game by their rules, they will probably eat us for lunch. If we are going to survive this contest we are going to have to find a way to force China to play by rules other than the ones they know.
This can be done because at their heart the Chinese are in many ways like us, they are at the end of the day pragmatists. They are less interested in global conquest than they are in providing the best possible quality of life for as many of their citizens as possible.
They are also strict authoritarians and take that whole collective nonsense quite seriously.
coldwarrior wrote:
No Tickie, No Shirty.
@ NoThreat2U:
Nice.
…
…
…
Ok, I want those too! LOL!
A weak dollar makes for a great vacation. For us euroweenies, that is.
coldwarrior wrote:
It is good to have different opinions. This scenario is highly complex and their are cross currents no matter what segment of the elephant you are looking at.
@ m:
I said last night that I am gonna quit paying my bills and spend all my money on books and shoes. lol Hey! I can turn my daughter’s room into my shoe room!!!
yenta-fada wrote:
Nor can they afford to start a currency war against the Euro.
@ Beeduwine:
Just what we need: Euro-peons coming over and stinking up the place…
Iron Fist wrote:
You know the world is upside when the German economy is booming due to reduced taxes and regulations and China criticizes us fro Central planning.
coldwarrior wrote:
Not only will QE2 not be stopped. There will be QE3, QE4, etc. They have painted themselves into a corner without an exit strategy. It is a slow motion debt default. The rest of the world knows this.
@ NoThreat2U:
hmmm… Be reasonable. Make sure you at least pay the internet bill!
~:D
Don’t Worry, Be Happy
NoThreat2U wrote:
Yeah Obama will pay your bills from his stash!
Why are we talking about insignificant things like the imminent collapse of the US economy? There’s important news!
Prince William and his girlfriend announced their engagement!
//shoot me now…
@ NoThreat2U:
That is exactly what they are hoping threat of inflation will get us all to do. Not just shoes though. LOL
@ yenta-fada:
Yup Argentina, Brazil and other Latin countriess did this in the 70′s and 80′s. It was a disaster.
@ lobo91:
Didn’t get an invite huh?
yenta-fada wrote:
I disagree, we cannot afford to not take several really hard shots at them, they will not stop if we do not respond. Unlike the Muslims the Chinese are not suicidal, but they have genuine national interests that they need to protect and the policies that are in the United States best interests are not in Chinese national interests.
Right now China is doing what it believes is in China’s best long term interests and Chinese philosophical ideology embraces the concept of bumping or nudging in a less than gentle manner anyone who gets in the way of those interests. Yes, they shove in line and play cut’sies, they believe it is perfectly fair to shove you out of line then accuse you of trying to cut in line as well.
m wrote:
It’s probably in the mail…
lobo91 wrote:
Hey I was actually going to post on that! I kid you not!
@ m:
lol
Ok…internet, shoes and books
wolfie wrote:
The single advantage of the Euro that I can see is that the members were required to contribute 15% of their assets in gold when joining. This amount is marked to the price of gold on a quarterly basis and helps keep the Euro afloat. One of the downsides of the Euro is that most of those countries are so deeply in debt that they need the French and Germans to cover ALL of their losses. Shell game. The money is being moved around to make it look like something is being done.
@ Rodan:
You’re right!! Life is starting to look good! / lol
m wrote:
I was going to post onm that actually!
@ NoThreat2U:
Priorities…
NoThreat2U wrote:
Hey If Obama is going to care of some people, why not all!
yenta-fada wrote:
Well said!
At times like these I miss my father acutely. He was an economist, but more importantly, one who could dispassionately explain opposing viewpoints.
Rodan wrote:
Were you going to explain why I should care about it?
@ Iron Fist:
Just you wait. We’ll pillage your towns and take your women. And while we’re at it, we’ll suck on your socialized healthcare’s great tit as well.
@ doriangrey:
The Chinese take the long view. Not so in the rest of the world. The strategy is long term, the tactics are short term.
@ lobo91:
Gotta be. What’s a royal wedding without Elton John and LOBO!
@ yenta-fada:
It’s a good thing we would never do anything like that…
*cough* Social Security “trust fund” *cough*
wolfie wrote:
How lucky you were in having such a great dad. I’m sure you miss him.
@ m:
Yep! lol lol lol
@ Rodan:
I WANT MY SHOES DAMMIT…YES I CAN!!!
@ Beeduwine:
Good luck wi’dat!
Beeduwine wrote:
What? Yours has gone dry now?
/I keed….
//not about the dry social care though.
@ Beeduwine:
Euroweenies will never take American women. We like our men big and strong. lol lol lol
yenta-fada wrote:
If we held governments to the same standards in accounting to which private corporations are held, Bernie Madoff would have lots and lots of company in the pen.
@ lobo91:
No it was going to be the open for today. No deep commenst.
Just a heads up: Atlantis Build returns tomorrow!
@ m:
I really don’t want to know the answer to this but WTF did you find that??? OMG!
For everyone contemplating Thanksgiving travel:
Through TSA Airport Security
—with apologies to the Thanksgiving poem, “Over the River and Through the Woods” by Lydia Maria Child
Through TSA airport security
To grandmother’s house we go
We are never fazed
As we fill up the trays
Where our coats and shoes we stow
Through TSA airport security
We submit to full-body scans
So they can find out
Without any doubt
Whether we’re woman or man
Through TSA airport security
Should we balk as they peek
They will grope our junk
As if we’re prison punks
The sensation is…unique
Through TSA airport security
It’s considered bad form to say
That they’ve prevented naught
They’ve no terrorists caught—
Hurrah for Thanksgiving Day!
@ NoThreat2U:
You mean I can’t hire Enrique Iglesias as my cabana boy?
Rodan wrote:
I don’t recall that far back because I wasn’t interested then. However, those countries AFAIK subjected themselves to International Monetary Fund austerity programs. Those programs were and are useless except to the bureaucracy of the IMF itself. John Perkins “Confessions of an Economic Hit Man” is a fascinating read on how countries get manipulated.
wolfie wrote:
Actually you would be amazed at what the US can pull off, we are not only 1/5th of the entire worlds economy, we are the 20 percent at the bottom supporting the entire rest of the worlds economy. The US could collapse the Euro so fast it would give you whiplash trying to watch it happen.
In fact we damn near did on accident in early 2008 when we first responded to the Chinese withdrawal of half a trillion dollars in short term treasury notes in 4 hours back in Oct. of 07. The US has no interest in harming the Euro, it would not be in our national interest and believe it or not we still have very good relations with a significant number of European Union member states.
Global Warming
China is planning to take over North Korea, kids
http://www.strategypage.com/htmw/htart/articles/20101115.aspx
Here are my thoughts on that scenario.
lobo91 wrote:
Believe me, we do the same stuff here. People know about it, but they WANT to believe that there is someone looking out for their interests.
*cough*
@ wolfie:
I guess I can relent on that one. But that is you taking him…not him coming in here and taking you. You made a choice. lol
.
It’s more curious than that. Last year Pravda criticised the US
for galloping toward Marxism & the sheeple for going along.
Pravda!
wolfie wrote:
YES! EXACTLY.
@ buzzsawmonkey:
Caution, everyone! Don’t even think about singing that in a security line! Yeah, it would get a lot of laughs, but you’d probably end up on Napolitano’s No-Fly list.
The perfect gift would be a dental plan.
@ lobo91:
People follow the strong horse.
Manila warms to China, cools on US
@ m:
Oi, that’s one small dude!
doriangrey wrote:
That’s my point. We could harm it, but that would be a bad move for a whole host of reasons.
@ doriangrey:
The fact that the U.S. economy is so large and important is precisely what poses a systemic risk to the international currency and DEBT problems. Underneath all that are the monster derivative bets which leveraged the gains to the financial sociopaths. Now those bets are being de-leveraged. Example of double plus ungood.
@ buzzsawmonkey:
Love it. Especially any reference to “junk”. Hilarious.
@ Rodan:
Good, then let China help them with their little muslim problem.
@ savage:
China already controls North Korea. WIthout them that regime would collapse. Let them have it for all I care.
As for targetting Chinese cities for nuke attacks, they would retaliate.
It’s not worth a fight with China. We can’t even beat the Muzzies, how will we defeat China?
savage wrote:
That isn’t worth the paper it is written on as long as Obama is in the White House. Obama is a weak sister. He won’t fight China unless they invade Saudi Arabia or something.
yenta-fada wrote:
Heh heh heh, I have played Ping Pong with members of the current Chinese politburo, enjoyed their hospitality and drank many a beer with them. I was a member of the “Stupid club” back in the 80′s. They were the up and coming politburo members who were studying here in the US. I have a pretty good idea of how they view politics and how they look at the world.
One thing I am certain about them, they dont want to blow up the entire world, what they do want is what is best for China. To them yelling screaming pushing shoving and the occasional kick in the back of the head when you aren’t looking is perfectly acceptable.
Negotiating with the Chinese is always tricky, dangerous and extremely exhilarating. They always honor their word, but you really have to understand that the value of their word totally depends not only on the word, but where the accent is placed on the word.
@ Iron Fist:
Exactly, If China attacked a Muzzie country then the US will go to war. We must defend our masters.
@ doriangrey:
Well back then they were allies of our against the Russians. As for now, China only wants to control terrirtories that they have dominated traditionally under the Yuan, Ming and Manchus. They have no global conquest plans. They just want to dominate East Asia.
doriangrey wrote:
That’s REALLY interesting. You must be a pretty good ping pong player!
I would agree at taking a shot across China’s bow would be a good idea if our own ship weren’t listing and taking on water.
Unemployment is unacceptably high, and many are saying that it may remain that way for quite some time, the economy has stagnated in a low-growth cycle. We have spiraling debt and, amidst that, we have
pumpedpissed away nearly a $Trillion in a failed attempt to stimulate it.What concerns me is that QE2 is another attempt to “do something” because every thing else has failed. We’re in the process of throwing everything up against the wall to see if it sticks, and QE2 is the last thing we have.
Rather than keeping taxes in a static condition, making austerity plans to reduce spending and get the budget deficit to a manageable level thus creating a stable environment for economic growth, we’re doing anything but.
I’m all about priorities, and our priority now is to prevent an economic catastrophe for the young as well as the old. Every day that goes by we take on more water and the Democrats and the White House are playing political games instead of stepping up to the plate on behalf of Americans who have been hurting for far too long.
We have shown our dissatisfaction at the polls; if this trend continues, the next time the people speak it may not be so civil….
Rodan wrote:
Oh in a direct conflict with China the US win’s, don’t get that fucked up. The Chinese are fully aware of this or they would have moved long ago.
@ MacDuff:
Exactly, we are not serious in competing in the global economy. We’re getting our asses handed to us.
Rodan wrote:
They don’t want it. The last thing in the world they want is millions of starving peasants on their hands. All they want is for the Norks to keep the concentration camp stable and the fences secure.
The strategic location of N Korea, which poses a military threat to S Korea and Japan, is a bonus.
@ MacDuff:
Don’t make the mistake of assuming that “our” priorities are the same as theirs.
I see no evidence that the Dems are actually trying to prevent an economic collapse. From where I stand, it looks more like they’re trying to hurry it along.
Rodan wrote:
If China outright takes over NK (and no, they do not control Kim, otherwise he would not be alive today) then they will take over SK, then Japan, then anything west of Midway Island, including the Philippines. They intend to turn the Western Pacific into a Chinese lake and they have been planning for this since the 1953 armistice.
buzzsawmonkey wrote:
Guess they’re ashamed of him…and always have been.
yenta-fada wrote:
ROTFLMAO… Not really, and that was 25 years ago. Believe me they seriously took my poor little skinny white ass to SCHOOL. To the Chinese Ping Pong is a serious as a heart attack sport. But I do play Chinese styled, which is to say, paddle held upside down with two fingers on the paddle face.
Mostly we ate and drank and talked about girls and politics.
@ savage:
Sorry dude, China calls the shots in North Korea. WHere are you getting this idea that they don’t? All PLA wargames include the KPA and Burmese Army as their auxilaries.
China can have the Western Pacific for all I care.
I say draw the line at Japan, Philipines and Australia. I could care 2 craps about Korea and Taiwan. It’s not worth American blood.
savage wrote:
Probably not Japan, that has never been a part of any of their dynasties, but they do believe they have a score to settle with Japan because of Japan’s actions in WWII so that is a very iffy call.
You got it. All out war against China would not ba a land war, but
technology against technology.
Unlike the Muzzies who are here there & everywhere we know where the
Chineese are, they’re in China.
The Muzz may want to die to go see Allah, but the Chineese are
athiest. When they die , they have nowhere to go.
MacDuff wrote:
Which is why I say that Obama has no real care whether or not the economy improves. If he did, he’d have long ago dropped the class warfare bullshit attacks on small businesses as “Tax Cuts for the Rich”. We’ll get something through, because the Dmocrats know the consequences if we don’t, but they aren’t going to back off the Washington games one little bit in the meantime.
@ RIX:
According to an atheist’s belief system, yes.
@ doriangrey:
Have you forgotten Kublai Khan? The Chinese tried to invade Japan, but a typhoon sank their invasion fleet.
Rodan wrote:
We simply cannot be competitive abroad until our financial house is in order domestically, and the domestic part has to come first.
Rodan wrote:
If you give up Taiwan and South Korea, you give up ANY remaining goodwill in that part of the globe. Might as well roll over and die.
@ Macker:
He freed all those slaves, and the Democrats have never forgiven him for that. Ask Robert Byrd…next time you are in Download City
@ doriangrey:
China seeks to dominate The Koreas, Mongolia, Vietnam, Thailand, Laos, Cambodia, Burma (which they do now), Sinapore (Mostly Chinese), Malaysia and Indonesia. That is their traditional sphere of influence.
@ savage:
Yeah, if we start pussying on our allies, the Muzz will have a field day. Everything will come apart.
@ Rodan:
Indonesia? What are they gonna do with all the muslims there?
MacDuff wrote:
Yup you got it!
@ Iron Fist:
Hey! Great Idea! I’m gonna have to include Sheets and Tariq Aziz in some type of Roundtable Discussion with Saddam!
NoThreat2U wrote:
What Chinese always do to the Muzzies. Ask the Uighurs!
China vs. Muzzies, I’m with the Chinese on that one!
@ Rodan:
Something like an Asian Co-Prosperity Sphere?
this just in:
gop congress wants to change the feds mandate to controlling inflation ONLY.
—price stability as the feds only focus, dropping the other mandate for max employment–
more to come
The central bank is currently required by a 1977 amendment to the Federal Reserve Act to promote stable prices and full employment. The Fed’s Nov. 3 decision to buy $600 billion of Treasuries in a bid to reduce unemployment has spawned critics, including officials in China, Germany, and Brazil, and U.S. economist
Macker wrote:
Actually no, more like a restoration of the Yuan, Ming or Manchu dynasties.
@ Rodan:
Hey, if they want to invade Indonesia, more power to them. They aren’t a US ally. The Chinese can burn it to the ground and make parking out of it for all I care. But we have to stand with our allies, or our word is shit. Then we areally are screwed.
OT
Somalia is now more at risk from terrorist attacks than Iraq, Pakistan, Afghanistan and Colombia according to a global ranking assessing the frequency and intensity of terrorist incidents in 196 countries. Sixteen countries are rated as ‘extreme risk’ with Somalia (1), Pakistan (2), Iraq (3), Afghanistan (4), Palestinian Occupied Territory (5), Colombia (6), Thailand (7), Philippines (8), Yemen (9) and Russia (10) at the bottom of the ranking.
The Terrorism Risk Index (TRI) is developed by global risks advisory firm, Maplecroft, to enable organisations to identify and monitor terrorism risks to human security and international assets. The index uses data from June 2009 to June 2010 to assess the frequency of terrorist incidents and the intensity of attacks, which includes the number of victims per attack and the chances of mass casualties occurring. It also includes a historical component assessing the number of attacks between 2007 and 2009 and looks at whether a country is at risk from a long-standing militant group operating there.
With the exception of Colombia, all the terrorism committed in the top ten countries comes from Muslim separatists or Islamist movements.
Tiny minority my ass.
Macker wrote:
Emmm, for the Chinese it is a little more complicated than that. For the Chinese everything is about the future. For the Chinese immortality is about China itself surviving. They will collectively take a substantial hit today if it ensures China’s survival and prosperity. They will risk everything if they think that that immortality is genuinely threatened.
@ coldwarrior:
This is getting interesting.
@ Rodan:
As long as they keep it between themselves, I don’t care. I do not want America sticking her nose in it…and defending the moes. We really are stupid like that.
@ NoThreat2U:
The tiny minority are the peaceful ones. Wherever they are…
Macker wrote:
Which is why an atheist would have no wish to die at the
hands of superior US technology. The Muzzies on the other hand
seem like they are in a big hurry to get to their big brothel
in the sky.
I hope that the 72 virgins all look like Michelle Obama, Rosie
O’Donnell, Joy Behar & Iceweasel.
Iron Fist wrote:
Nope, and neither have the Chinese.
@ NoThreat2U:
Somalia isn’t even a country.
@ coldwarrior:
http://www.nytimes.com/2010/11/14/opinion/14grant.html?_r=4
@ Rodan:
@ savage:
I think Savage is right on this one. That is, I don’t see how you can draw a line where you won’t protect Korea but you will protect Japan.
I think we need to maintain a presence in East Asia and it has to be credible. OTOH, the chief responsibility for Asian defense has to fall on the Asian countries themselves.
Rodan wrote:
here’s the latest
@ coldwarrior:
Now THIS is interesting. I wonder what their mandate was prior to 1977?
Scott Madsen wrote:
requires a login which i refuse to have.
coldwarrior wrote:
Ditto
Macker wrote:
maximum employment, production, and purchasing power
@ Iron Fist:
/crickets
@ RIX:
You’re looking in the wrong direction, and they will have anvil-shaped genitalia.
@ Nevergiveup:
Yup, not paying for that rag!
Rodan wrote:
Ah, but here is the rub, most of those countries are not particularly interested in being controlled by China. They didn’t like being controlled by the Chinese in the past and haven’t forgotten or forgiven China for what past dynasties did. Countries like Korea, Vietnam, Thailand, Laos, Cambodia really have quite a hate going on for China.
and boom!!!
china is going to use price limits to fight inflation…
here we go!
maybe free up the yuan to trade at its natural level…hmmm….????
@ coldwarrior:
ISTR that when Paul Volcker ran the Fed during the early years of Ronald Reagan’s tenure, he chose to fight Inflation. IIRC, took a big hit on Unemployment for a short while, and of course the Demo☢rats went apeshit.
@ Iron Fist:
Yeah…wherever that is.
@ coldwarrior:
Didn’t we tried that under Nixon and it failed?
Looks like the Chinese are becoming economically illiterate like us.
Macker wrote:
volker slaughtered the inflation monster in 82 with 22% interest rates.
he and the fed were hell bent on stopping inflation period, at all costs, and the fed has done a fine job of fighting inflation since then
buzzsawmonkey wrote:
And the penny isn’t made of honest copper anymore. Some kind of plated crapmetal.
China’s stocks fell, driving the benchmark index to the lowest in a month, on speculation the government will intensify measures to curb accelerating inflation including higher interest rates and price controls.
this is gonna be fun!
bbl…
coldwarrior wrote:
coldwarrior wrote:
And that was exactly the affect that QE2 was suppose to have. The Chinese are now scrambling like hell to keep their economy from collapsing. If you are in the Forex Chinese currency is about to float, by a factor of 10 or greater. Their economy is about to get whipped out.
The NY Times srticle was about rstoring our currency, the historical roles of the Fed and US montary policy, a new global monetary policy a la Bretton Woods 2 with a limiting gold peg, wtc.
Link works for me with out log in, and I won’t give them subscriber numbers either. Maybe I shouldn’t link too as it gives them more cred than they deserve.
Anyhow here is some entertainment:
Your god may be great but your ability in properly headspacing a bolt on an AK sucks donkey nads !
http://www.apacheclips.com/media/24784/HAHA_Jihadi_Accident/
@ doriangrey:
This is going to get ugly.
@ Scott Madsen:
Idiots.
coldwarrior wrote:
Cuz that worked out so well for Nixon?
coldwarrior wrote:
Ironically, the one thing Carter did right probably cost him the election.
@ Scott Madsen:
Well that sucks. He didn’t die.
@ Macker:
Didn’t even lose his butt wiping paw.
doriangrey wrote:
bingo!
bbl again….gotta go to biochem class
Rodan wrote:
Yes it is, the Chinese picked an economic fight with the craftiest, sneakiest, most ruthless bastards on the face of the Earth. Chinese arrogance got the better of Chinese intelligence. Now they are going to pay the price and it’s going to be way more than they bargained for. They are not going to like it even a little bit.
The Chinese pride is strong, they will try to stand toe to toe with the US and the damage to the entire world economy will be staggering. They over estimated their abilities but they will fight on regardless until they see no future.
This has the very real potential of becoming a shooting conflict. The Chinese will get their asses handed to them so badly they probably will respond violently. Probably the only thing that will keep it from going nuclear is China isnt suicidal.
Iron Fist wrote:
And therein lies their Achilles heel. People will actually take up arms and fight for a limited amount of causes, and money is one of them. Hell, the original revolution in this country ; the lack of employment to get itwas essentially about money.
What’s happening in this country is boiling down to money; the lack of employment to get it, and the government’s irresponsible spending of it.
As long as people are employed and reasonably comfortable, they’ll find things like gay rights, abortion, multiculturalism, banning tobacco, and a whole host of ancillary topics worth discussing. Once, however, we get into the state that we are in now with debt rising, 10+% unemployment, stagnant wages and home forclosures, money steps back into the spotlight.
People don’t give a rat’s ass about the “first black president” when they’e having trouble making the house payment, and have been for months. People don’t care about liberal or consevative “agendas” when they’ve been unemployed for 8 or 9 months.
Clinton was right about one thing: “It’s the economy, stupid!”, and if Obama continues to mismanage the economy and misread the people’s priorities, he, and his Democrat cohorts will be dropped like a bad habit.
Other than my immediate orbit I’m an economic illiterate. What is the likely outcome here if China goes down?
[...] This post was mentioned on Twitter by Robert Brisand, The Blogmocracy. The Blogmocracy said: Weaker Dollar will not help the US #economy http://goo.gl/fb/qaKd9 #blogwars #democraticparty #leftistislamicalliance [...]
vagabond trader wrote:
China resorting to military conquest of her neighbors.
@ doriangrey:
Bernake? Are you daft?
vagabond trader wrote:
Billions will die!!!!!11
/Sorry, couldn’t resist.
@ snork:
lol,oh ok.
doriangrey wrote:
Well, I had (and still have) my doubts about the QE2 move, but, at least in the short term, it seems to be having a positive effect.
That the markets are fearful of inflation is not surprising. I’m scared shitless of inflation.
snork wrote:
ROTFLMAO… Bernake no, but don’t fool yourself for one second thinking he is behind this. This is a strategy created by the US War College and the Wizards of Wall Street. Bernake is just the visible face behind whom the real strategist are hiding.
@ MacDuff:
Me too,I remember the last bout.Time to stockpile necessaries.
The horses were in the gates at the close of the G20 on Friday, and when the Asian markets opened Moday they were rang off to the race to the bottom.
I’ve been bitting my nails all summer anf fall waiting for the other shoe to drop. I was hoping a property would sell before them giving me cash to store value with before hand. Sale didn’t go through with three different contracts unable to get financing. Oh well, just have to get by with what I have.
Hold on friends!
vagabond trader wrote:
WWIII, the Assasins Mace war the PLA has been plotting for the last 15 years.
@ doriangrey:
We aren’t going to come out of this good either.
The winner will probably be Russia as the US and China destroy each other economically and maybe militarily.
Scott Madsen wrote:
I think it was Churchill that said “this isn’t the end, it’s not even the beginning of the end; it’s the end of the beginning“.
I think that’s where we are now…..
@ MacDuff:
Exactly!
@ Rodan:
I built a reinforced room in my basement back in the spring.
No shit!
@ Scott Madsen:
Roubini predicted this.
Scott Madsen wrote:
Smart thinking!
@ vagabond trader:
Yup buy now!
Alberta Oil Peon wrote:
That’s been true at least since the Reagan years, since the cost of the copper is more than the value of the penny. But that’s nothing new; we haven’t had a silver coinage in this country since 1964.
What gets me is the hideous designs they are sticking on the coins now. I’ll admit it took me some years to appreciate the classical simplicity of the old Washington quarter, but the new Washington portraits are cheap-looking, and those stupid state pictures on the reverse are cheap also. The new three-quarter-front Jefferson portrait on the nickel sucks, too.
Time was, we had some of the greatest sculptors in the nation designing our coinage; now the stuff looks like knockoffs of the type of crappy art you see on telephone books.
@ Rodan:
I was listening a long time ago.
I was pissed in March 08 when my wife pre paid a Disney vacation for December.
Shit happened in the Fall just as predicted and the MOAB (mother of all bail outs) aka TARP commenced, and well the only thing I got out of it was a trip to Orlando since the doors were still open.
She has a deposit on another one for the Spring, but I won’t let her pre pay this one!
Rodan wrote:
We’ll come out of this a whole lot better then you expect, oh and check the recent we got mail2 thread over at DoD and then email me.
@ buzzsawmonkey:
Yeah,these hacks are not Saint Gaudens,not even close.Those coins were miniature works of art.
@ buzzsawmonkey:
At the refinery I worked at the banks sent all the pre 65 coins to us to be melted.
mjazz wrote:
Bet it felt like a crime to do it to…
NoThreat2U wrote:
Tank track lubrication…