WorldNetDaily: Gates, Buffett, China 'run from dollar'

World Net Daily ^ | February 3rd, 2005 | Craig R. Smith

[Dead Dog]

Towards a freer market economy and probably a freer (and more peaceful world). Doves and Dollars, how cool.

[superiorslots]

..so the stock markey will tank if interest rates rise. Wow it is going to be bad. The stock market has really sucked for the most part the last 4-5 years with super low interst rates. It is really really going to suck if interest rates rise.

[anonsquared]

The Chinese seem to have forgotten that the US will be paying back the debt that they still hold with dollars that they are helping to make worth less.

[monday]

"The fair is something that comes to town once a year...for children."

lol... how petty. Yes, it does mean that, it also means, among other definitions;

fair: adj. just and honest, impartial, unprejudiced, according to the rules.

Are you saying you didn't understand the meaning I meant?

you said;"But you haven't seen groceries here in the U.S. rise 30% since 2002...even though compared to foreign currencies, the Dollar has dropped that much."

It will. Inflation always lags currency devaluation.

Why do you think the Reserve has been raising the prime rate so furiously lately? They are trying to get ahead of the inflation that is surely coming. Unfortunately it is too little, too late. The Federal reserve lending rate has almost nothing to do inflation. That is caused by government spending. Market forces do the rest.

[Paul Ross]

I note you couldn't respond to the facts, which your selective attack (which also misfired) missed these indisputed items:

Butter for your bread: up 62 percent. A glass of 2 percent milk to wash it all down: It may rise as much as 50 cents a gallon ...and gasoline up 30 cents a gallon since January.

Hello? Is anybody in there?

Instead you merely cast aspersions, i.e.,

Some people don't know when they are beaten or when to come in from the rain...and you're all wet.

You have been hoist by your own petard.

[Southack]

"You postulate facts which are not all in fact real. The wages are not going up."

"In the United States, wages increased fivefold between 1860 and 1960. Adjusted for inflation and expressed in 1982 dollars, the typical weekly wage of a U.S. worker increased from $262 in 1960 to ... $270 in 1998..." http://www.encyclopedia.com/html/w1/wages.asp

Expressed in 1982 Dollars, that weekly rate had further INCREASED to $279.68 by 2004. http://data.bls.gov/cgi-bin/surveymost

[isthisnickcool]

The price of medical care is beyond the uninsured, and is inflating far faster than the normal inflationary pace. And the need for medical care will only balloon as the population greys. The home ownership demographic is great, however, we need to recognize it was due to the historically aberrant low mortgage rates. Not seen this low since the 50's. Not sustainable, as we will soon see.

And on top of all of this horrible news I can't order a 2006 Z06 Corvette yet! What's up with that!!!!??

[longtermmemmory]

I think this is a new front on the cold war between the USA and the EU. I think the euro is seen as more "corruptable" and easily manipulated than the dollar.

I find it absolutly amazing that NONE of the euro currency scandals have even approached the MSM in the USA. The do get brief mention in the government controlled europress but by the time they hit there, the scandal has been swept under the rug and the public only gets the tip of the iceberg. (ie have to explain why such a large group is being fired, or indicted, or arrested)

Could it be that the mega players want one world currency? one world tax system?

Could it be that these mega playes are playing the "i got mine" hand?

There is more to this than some swiss paper pusher.

[Paul Ross]

I can't order a 2006 Z06 Corvette yet! What's up with that!!!!??

Your living standard is too low. Get to work, instead of playing at FR!

[Paul Ross]

1982 figures, and 1998 figures, have nothing to do with what is currently happening in trade. Give it up.

[Southack]

"The home ownership demographic is great, however, we need to recognize it was due to the historically aberrant low mortgage rates. Not seen this low since the 50's. Not sustainable, as we will soon see."

Sub 6% home loans are sustainable by a population with less than 6% unemployment so long as Productivity makes even modest gains...something that is rather normal for Americans.

[Moonman62]

The Fed routinely makes huge mistakes, however the Bush administration signalled an end to its weak dollar policy last December, and so far the dollar has strengthened. Gates and Buffet are going to lose on this one. They are letting their politics get the best of them, which should be fun for the rest of us to watch.

[Zon]

Doves and Dollars, how cool.

You got it. :-)

The world has never endured a war or counter-productive destruction of values  between business and science -- between and among businessmen and scientists.

Despite it never occurring, Chicken Littles -- parasitical elites -- have endlessly proclaimed to protect the "little guy" from it/them. Yet they slap Enron executives' wrists -- whom never produced real values, yet caused much financial hardship -- while they make an example of Martha Stewart.

[monday]

"And on top of all of this horrible news I can't order a 2006 Z06 Corvette yet! What's up with that!!!!??"

wow.... things really are bleak.... hehe;^)

[Southack]

"Oh really, and your proof for that is precisely where?"

In the grocery store. Do they not let you out of your "home" to go to the store anymore?!

[Southack]

"It may rise as much as 50 cents a gallon..."

That's a guess, not a fact. Learn the difference.

[Mase]

"Didn't happen in the Great Depression, which the coming collapse will likely eclipse."

You doom and gloomers have been predicting the collapse of our economy due to the "twin deficits" for two years now. Maybe you could do us all a favor and tighten the window a little bit. When will this occur? The next 6 months, a year, two years from now?

[Paul Ross]

Sub 6% home loans are sustainable by a population with less than 6% unemployment so long as Productivity makes even modest gains...something that is rather normal for Americans.

Stated as if it was an edict from a liberal economist such as John Kenneth Galbraith. Not buying that soap.

[SolidSupplySide]

The Fed routinely makes huge mistakes, however the Bush administration signalled an end to its weak dollar policy last December, and so far the dollar has strengthened.

I did not mean to imply that the Fed never makes mistakes. I was merely making a prediction that they won't this time. I think this is an outlook we share.

[isthisnickcool]

Your living standard is too low. Get to work, instead of playing at FR!

"Low living standard". Oh, I get it, you think I should buy the Viper instead, eh? I'll be conservative and stick with the Vette. And I'll be sure to use the zero interest financing like I awlways do.

"Get to work" you say? That's a problem. But I have people for that. Oops, looks like they are busy.

Oh, well....