When they decouple their currency from ours, that's when it will become far too expensive to purchase Chinese.
Iraq dropped the dollar? News to me. Depression? With a 5% economic growth rate and low unemployment. Talk about defining depression down.
It might not have been posted on the Hot Air blog. http://archives.cnn.com/2000/WORLD/meast/10/30/iraq.un.euro.reut/ http://www.cbsnews.com/stories/2000/12/22/2000/main259203.shtml
Low unemployment does not necessarily mean high quality of life. The middle class is being wiped out with inflation, middle class jobs have been outsourced. Most people are now getting paid less while their cost of living has gone up. You are painting a rosy picture while realistically there isn't one.
China is in a world of pain right now. The Yuan has climbed 12 percent since a fixed exchange rate was scrapped in July 2005 to 7.3805 per dollar. The real rate should be 4 Yuan to the dollar. China has widespread fuel shortages due to price controls that force refiners to sell for the than the production costs. The trade deficit is increasing with the US and prices of food are going through the roof for chinese consumers. How long will the chinese be able to subsidize Walmart shoppers? "The trade surplus climbed 14.7 percent to $26.3 billion in November from a year earlier, the third-biggest monthly total, the customs bureau said today. Pork prices surged 56 percent in November from a year earlier, driven by a shortage of pigs. Food makes up a third of the consumer price index and rising costs pose a threat to social stability, illustrated by a stampede last month at a cooking-oil sale that killed three people in the central city of Chongqing. Overall, food climbed 18.2 percent. Non-food prices rose 1.4 percent, accelerating from a 1.1 percent gain in the previous month. Utility prices including water, electricity and gas rose 5.6 percent. " http://www.bloomberg.com/apps/news?pid=20601087&sid=aJLdo_CL6lJk&refer=home
Where is the unemployment numbers for this? Where is the inflation for this? Just making crap up are we? So your current conspiracy theory is that something that happened in 2000 caused this? That's an incredible retelling of history guerilla. You should really be proud of yourself.
Still waiting for some data to confirm your hypothesis. Care to help me out, just a little? I'm locked and loaded dude. Bomb shelter, rations and everything under the house. Waiting for the sky to fall!
Well you can start here: Some of the numbers about the deficit are 2-3yrs old and we know as of today that the deficit has increased by at least another 2-3 TRILLION dollars! http://bellaciao.org/en/article.php3?id_article=9995 http://www.lilithgallery.com/articles/2005/USeconomic_collapse.html http://www.americanfreepress.net/08_31_03/On_the_Verge/on_the_verge.html http://www.commondreams.org/archive/2007/11/14/5210/ http://www.rediff.com/money/2003/may/26larouche.htm "Where there is smoke there is fire" Also this is not a hypothesis, it is a FACT that it is impossible for us to pay down this deficit without a complete collapse/bankruptcy and a start from scratch. When a countries currency falls and falls fast it is a sign of hard times ahead. The FED does not help our case either. http://www.npr.org/templates/story/story.php?storyId=15807245
Know the difference between the debt and the deficit? This article lost me here: This lost me here: This was on a hearing about social security: http://www.federalreserve.gov/boarddocs/testimony/2005/20050302/default.htm Do I really have to go through the rest of them? And they did it again the other day. You'd think a more recent story would bolster you point more http://thehill.com/op-eds/bush-suging-not-fading-as-tenures-end-nears-2007-12-11.html
I have heard the billionaire realtor Donald Trump... By 2010, the baby boomer generation of the 60s will begin to retire. Estimates suggest 75 million people reaching the retiring age by 2010. And what have these people done all their working life? 1. Invested in Mutual Funds via 401k 2. Invested in Insurance Endowment And, these 75 million people will start withdrawing 1000$ from 401k fund and 1000$ from insurance every month. That is the minimum they would need to survive in US these days. And that means a total of $150 billion coming out of the market every month. What do you think will happen then? I am sure China and Japan will no longer support the weak $ at the time. Just look at so many countries moving away from the dollar. That is why many people think it is a bubble. A normal earning middle class finds it difficult to purchase home already. Everything is under mortgage and credit cards. I believe Donald Trump is a genius, and I agree with his analysis...
I'm done debating with you. You fail to see the bigger picture and I have better things to do with my time than try to waste my time making you see the light. Good luck to you.
I love how people here post information that isn't factually sound and expect you to believe it as if it was the written word of god.
When you are actually aware that Iraq went off the dollar before I have to tell you, then you can point fingers about retelling. Frankly, now that you know, it calls into question all of your posts regarding the invasion of Iraq.
Calls something into question; that's for sure. I'd usually say "questionable cause" here, but I'll keep it simple and say that you are, as usual with BDS sufferers, assigning a reason behind an action them casting blame based upon your own reasoning.
The Dollar can made a cyclical comeback but the FED would need to raise interest rates above 10%. Again, as long as Japan and China continue to subsidize the dollar there will not be a total collapse. http://www.gold-eagle.com/gold_digest_05/wiggin082605.html
You are the one claiming that we went to war over the Euro and oil, right? Are you just asking questions