Posted on 03/22/2008 9:41:31 PM PDT by manilaman
My thoughts, exactly.
The Bush administration can even secure our southern border, which would end illegal immigration and 90% of the drugs brought into our country.
Why would they even care about an economic war with China? Red China probably owns most of the pols in DC anyway.
Great post. Couldn’t have said it better.
The trouble for the next administration is abundantly clear. I will concede we are on Category 6 rapids and none of the candidates have experience as river guides.
We are headed into a very inflationary period. We know how to stop it thanks to Paul Volker. However, who will have the same visionary leadership as Ronald Reagan to encourage the Fed to slam on the breaks and take the recessionary hit and then come out stronger on the other side with lower taxes and more incentives?
We may be doomed!
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I went looking for some acrylic paints this week. I was just doing a small job and wanted to get one of the starter sets. I found one made in China for seven bucks. Everything made in the US was $12 or more. It’s difficult to pay nearly twice as much for the same thing.
Those jobs aren’t coming back. And they certainly won’t be coming back in a weakened economy.
“The economic mess is only really a mess on Wall Street” sounds a lot like the 1930s mantra of “What happens on Wall Street doesn’t reach Main Street.” And we all know that wasn’t true then and probably isn’t true now.
If the dollar continues its downward slide, OPEC and other commodity producers will be tempted to price their goods in other currencies.
A weak dollar is a double edged sword. Manufacturing investment will increase, but no one wants to see the value of his external reserves shrink by 30%.
bookmark
LLS
Yeah right.
LLS
Very cool... using an ancient eastern fighting technique, i.e. jujitsu, against a eastern power.
Ok, so maybe we don't want Japan to rebound back and threaten out position either?
Not much chance of that happening, I’m afraid. Japan’s population is aging. Most of the high-tech manufacturing jobs have already moved out of the country. The biggest worry is who how the country is going to take care of all the aged citizens that are going to need extra care.
Japan had its moment in the limelight in the 70s and 80s. Now, its economy is just barely treading water.
Why is it when your neighbor buys a big house, a nice car and sends all his kids to college, every year for decades, he is doing well. Why is it when he is buying money every year for decades, at low rates and paying it off, he is not considered doing well. Certainly the people that sold him the money think of him as one of their best customers and wish they could do more business.
The level of economic discussion on FR is pathetic.
China’s economy is a racket and now they are in a squeeze. It’s going to be rough on the average Chinese, as fer sure the communist/fascists elite are not going to take a hit on their profits. Like Putin and the Moscow mafia, the Chicomms will demonize the US and exhort their people to greater effort and then the elite will send their kids to American schools with new BMWs and park their money in US banks.
Our trade relationship with China is actually part of that plan. By pegging their currency to the U.S. dollar, they've basically ensured that the U.S. purchasing power of anything produced in China will not decline despite the "inflationary dollar" policy that has been put in place.
Basically, China is now functioning as a slave colony of the United States. And they are apparently quite content to be such a thing.
I don’t have any particular love for the Euros, however, they are a very large trading partner and if their economies are contracting it will hit us eventually in the form of lower exports. In addition, a weak dollar makes our imports more expensive leading to higher inflation. Also, the country derives substantial benefits from the dollar being the reserve currency of the world. The country derives substantial revenues through cosignage. It all comes down to the fact that there is going to be a world wide financial meltdown at some time in the future and the dollar will be at the center of it.
chicom bump for later......
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