Posted on 11/07/2007 7:41:37 AM PST by BGHater
Stop spending money we DON'T HAVE
Every cloud has a silver lining.........Our exports become cheaper, theirs become more expensive............
And since a lot of the consumer goods we use are imports, the masses of Americans (translate “voters”) get screwed.
Beautiful. That’s really great. True progress.
Oh yeah, democrats think they were elected to trim spending. The message they heard is raise taxes and spend more. Democrat success equals higher taxes and higher spending. W isn't helping trim either.
Screwed? Hardly.... Consumer goods from SAUDI ARABIA, CHINA, VIETNAM, PAKISTAN, TAIWAN, KOREA, etc...... This may be a good thing. Manufacturing of consumer goods has left our shores. Now maybe the tide will turn and factories that once were shuttered, will re-open with the latest in technology to re-ignite the American Industrial fires...........
Keep falling for that snow job. First off, China, the biggest exporter, does not revalue their currency, so there is no advantage there.
This is hitting you and every American in the pocket, and we are on the verge of a total banking and currency collapse, and everybody is sleeping through it all.
It's Thursday, October 24, 1929, and everybody is happy, there are two chickens in every pot, and a car in every garage, and it's all going to go on forever. The Wall Street Journal and the Treasury Secretary tell us so.
Calling President Hoover!
This could lead to some very bad results here. This is not going to give life to manufacturing in the US.
But it may cripple the country with some very bad side affects including inflation and very high energy prices.
It is time to be very concerned with all the US dollars China holds, if they start liquidating that, there’s big trouble ahead.
Now maybe the tide will turn and factories that once were shuttered, will re-open with the latest in technology to re-ignite the American Industrial fires...........
Uh no. Probably not.
I haven't seen a "worst economy since Hoover" post around here in a while. They always amuse me.
Oh. Wait. You're serious?
Well, that’s one way to look at it.
Don’t think of “Just petroleum”, but clothing, appliances, electronics, cosmetics, iron and all sorts of other “imports” as well. When we lost or manufacturing base to overseas “cheap labor” we lost a lot more than just jobs. This may be the beginning of a turn-around. All those ships from China waiting to be unloaded in our ports, will now be waiting to be loaded with our stuff going in the opposite direction.............
Not exactly. Any imports we get from China -- which pegs its currency to the U.S. dollar -- aren't affected by foreign exchange rates.
This is why I've long speculated that the U.S. government HAS ALWAYS BEEN IN FAVOR OF CHINA'S CURRENCY MANIPULATION POLICY, despite numerous public statements to the contrary.
Step back and look at the big picture. I’m usually as bullish on this country as anybody, but I think this macro trend is very serious and should not be underestimated. It’s reminiscent of the decline of Sterling as a world currency, and Britain as a leading world power, about sixty years ago. It took the public there about ten or twenty years to realize what had hit them.
If china dumps the dollar then aren’t they shooting themselves in the foot in terms of what they’re going to have to pay for oil?
It is my belief that China can't de-link the yuan from the dollar because the yuan would actually FALL against the dollar over the long term (it's basically a worthless currency on its own).
Correlation doesn't prove causation.
So instead of ships bringing us neat stuff other people made, we'll have ships taking away the neat stuff we made. How on earth is this a good thing for America?
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