"...the gov't lied on the Sept. figures to get people to buy homes thinking the housing market is turning around."
How do you keep that thing from falling off when you shake your head?
Posted on 10/25/2007 8:12:27 PM PDT by Philistone
To read the MSM headlines (which I try not to) the falling dollar is the end of the world. Maybe Wall Street should get a Noble Prize for their work in "Global Dollar Cooling". But seriously, what are the effects of a weak dollar?
1) Increased exports. Last month's exports were among the highest on record. Trade deficit? What trade deficit? Boeing, Caterpiller, Microsoft, Apple, etc. all with surges in foreign export sales.
2) Outsourcing? What outsourcing? All of the sudden it becomes cheaper to employ an American technician than one from Bangalore.
3) Cost of living? (I love this part!) Since China has pegged the Yuan to the Dollar, everything we get from China costs exactly the same! Maybe this will convince them to unlink the Yuan. Then we'll REALLY see who's the best producer.
4) Buhh... buhh... buhh... but foreigners will stop buying American Treasuries! What? In order to buy Russian ones? Chinese ones? Venezualian ones? Give me a break.
A weak Dollar equals: more exports, more jobs, more tourists (spending money) and the same or higher standard of living.
Bring it on!
BS - have you looked at the price of world commodities lately? Better buy gold, rather than trust the US government to actually honor the value of the $.
Where the F*&k in that do you see that a private owned banking institution has the authority to regulate our money.
Bye now Missy.
And US policy is to unpeg the yuan from the $, no matter what the impact is for the common citizen.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
Yeah, usually the comment reads something like: "I don't care if I get banned for saying this, but . . . ." [static]
“China: Real snakes.......they will screw us every time, and we thank them for it.”
That’s seriously off the charts rediculous, but you’re right.
“Jakarta, Indonesia”
I knew a couple of folks from there and I remember the country going through the financial crises in the last part of the 90’s, and with the elections. Suharto left, but I’m familiar with at least one of the families that still control/own the country. Some are here in the US now. Some are good people. You’re right though, it’s extremely dangerous if you want to venture out of Jakarta.
My largest bar-tab ever was in Singapore (lol). Of course a beer was something like 10.00...
Hello...hello. Operator...? Hello? lol
Welcome to the thread :) I’m betting you’re going to enjoy this one. Grab and drink and keep reading ;)
You know...we haven’t even pingd anyone to this yet (lol)
“I knew a couple of folks from there and I remember the country going through the financial crises in the last part of the 90’s,”
George Soros, the currency thief caused the whole thing!
There is still a bounty on his head there and in Thailand!!
From what I have seen on this and the other threads some folks just will not believe the control that the
Powers that be,whatever we call it,exert over the value of
“our” money,,,as well as oil production in this country...
“George Soros, the currency thief caused the whole thing!
There is still a bounty on his head there and in Thailand!!”
Well, and there you go! And Suharto and his cronies HAD to go. Glad they did, of coure as a country, they still a long way to go.
How do you propose shoring-up the dollar with running afoul of Heritage's categories?
Soros is safe over here(he ain’t stupid, just evil)
Much more scary to realize there aren’t any mysterious “powers that be” exerting control — only global market forces at work. Compared to ten thousand guys at keyboards trying to make a buck, Soros (the evil genius) is a comforting thought.
"...the gov't lied on the Sept. figures to get people to buy homes thinking the housing market is turning around."
How do you keep that thing from falling off when you shake your head?
Off topic....please see #418. I welcome you comments respectfully.
sjb
We have a free trade agreement with Singapore. And a trade surplus.
“You need to elaborate a little on your poke at Heritage’s Index of Economic Freedom.”
No problem. For the record, those are the same links Toddster provided me and told me to ‘read up’ so I could learn about ‘freedom’. Well I did, and then I used his own information against him.
‘...Are you suggesting that “free traders” (more precisely, free marketeers) disregard...’
Not at all. I welcome one to regard them as they wish, but do not combine the 10 of them together and then profess others are agains’t freedom if they don’t subscribe to the theories. And yes, much of it is still theory. Downloading and reading through the 2007 Index, it clearly states that both the methedology for the indicators changes yearly, and that they are trying new theories. I don’t want a beta release software package. I can wait for SP2.
Here’s what they Heritage Defines:
“The 10 Economic Freedoms. Overall economic freedom, defined by multiple rights and liberties, can be quantified as an index of less abstract components. The index we conceive uses 10 specific freedoms, some as composites of even further detailed and quantifiable components. A detailed discussion of each of these factors and their component variables follows this overview.
Business freedom is the ability to create, operate, and close an enterprise quickly and easily. Burdensome, redundant regulatory rules are the most harmful barriers to business freedom.
Trade freedom is a composite measure of the absence of tariff and non-tariff barriers that affect imports and exports of goods and services.
Monetary freedom combines a measure of price stability with an assessment of price controls. Both inflation and price controls distort market activity. Price stability without microeconomic intervention is the ideal state for the free market.
Freedom from government is defined to include all government expenditures—including consumption and transfers—and state-owned enterprises. Ideally, the state will provide only true public goods, with an absolute minimum of expenditure.
Fiscal freedom is a measure of the burden of government from the revenue side. It includes both the tax burden in terms of the top tax rate on income (individual and corporate separately) and the overall amount of tax revenue as portion of GDP.
Property rights is an assessment of the ability of individuals to accumulate private property, secured by clear laws that are fully enforced by the state.
Investment freedom is an assessment of the free flow of capital, especially foreign capital.
Financial freedom is a measure of banking security as well as independence from government control. State ownership of banks and other financial institutions such as insurer and capital markets is an inefficient burden, and political favoritism has no place in a free capital market.
Freedom from corruption is based on quantitative data that assess the perception of corruption in the business environment, including levels of governmental legal, judicial, and administrative corruption.
Labor freedom is a composite measure of the ability of workers and businesses to interact without restriction by the state.”
Source:
http://www.heritage.org/research/features/index/chapters/htm/Index2007_Chap3.cfm
Back in 2004, it was appropriately titled “Index of Degrees of Trade-Openness”. The wording changed to make for an easier sell, and now everyone’s scratching their heads trying to figure out what “Freedom” actually means.
“How do you propose shoring-up the dollar with running afoul of Heritage’s categories?”
Did you mean without? Good questions by the way.
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