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The Dollar at the Precipice
ce ^ | October 6, 2009 | Fred A. Kingery

Posted on 10/06/2009 7:32:36 AM PDT by NYer

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To: Romulus

I did miss that!

But I have to say: it’s worth it. Defense is one of the few legitimate acts of Government. We just need to weed out the graft, corruption and waste from procurement.


21 posted on 10/06/2009 9:04:24 AM PDT by agere_contra
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To: NYer

This article could have been written a number of times since Bretton Woods. Not necessarily inaccurate, but about as timely as reports of recurring sunrises.


22 posted on 10/06/2009 9:08:18 AM PDT by the invisib1e hand (Isn't the Golden Mean the secret to something," I parried? "Yes," Blue replied. "Mediocrity.")
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To: All

Again, if the US goes away, so do the billions of dollars in foreign aid and protection for the dirty f##king House of Saud and other barons.


23 posted on 10/06/2009 9:11:23 AM PDT by Maverick68 (w)
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To: NYer
"The origin of this financial train wreck has more to do with politics than economics. We are a nation hooked on borrowing simply to support government-sponsored consumption"

The author thinks that economics is what he saw in Econ 101. People's choice of government is an ECONOMIC choice. American people, together with all other choices made at the time, have chosen a socialist-leaning government. That was an economic choice.

24 posted on 10/06/2009 9:38:16 AM PDT by TopQuark
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To: blam

Thanks, blam, for the link! Hope all is well with you.


25 posted on 10/06/2009 9:42:09 AM PDT by NYer ( "One Who Prays Is Not Afraid; One Who Prays Is Never Alone"- Benedict XVI)
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To: ExTexasRedhead

Ping!


26 posted on 10/06/2009 9:42:31 AM PDT by NYer ( "One Who Prays Is Not Afraid; One Who Prays Is Never Alone"- Benedict XVI)
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To: Beelzebubba
Just sat down to my computer, looked at the charts for Gold and Silver this morning ..

Good time to sell or buy?

27 posted on 10/06/2009 9:43:15 AM PDT by NYer ( "One Who Prays Is Not Afraid; One Who Prays Is Never Alone"- Benedict XVI)
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To: RobRoy
The US is definitely going down. I have NO doubt. However, the rest of the world will be right behind us. And that is the dirty little secret that the other nations all know.

Agreed! It's all happened before - nations rise, peak and then collapse under the weight of their own legislation. Our nation peaked with the WWII generation.

28 posted on 10/06/2009 9:45:27 AM PDT by NYer ( "One Who Prays Is Not Afraid; One Who Prays Is Never Alone"- Benedict XVI)
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To: RobRoy
If someone owes you money, you don’t want him to lose his job.

Unless you hold a mortgage over his house, and want his property.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

29 posted on 10/06/2009 9:48:25 AM PDT by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: The Comedian

>>Unless you hold a mortgage over his house, and want his property. <<

Yes, but that only works if you can force him off his property. That is where the analogy breaks down.

Countries are like a bunch of houses in a neighborhood where there is no central government at all. No police, no 911 - full anarchy between neighbors. So the neighbors try to “self govern” their relationships. Sometimes it still leads to Hatfields and McCoys situations.

Countries are sovereign. People are not.


30 posted on 10/06/2009 9:58:56 AM PDT by RobRoy (The US today: Revelation 18:4)
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To: RobRoy
If the US suffers a humbling loss of value and spending power, it is China who will feel the heat most intimately. And they know that. While they might hope that the US be taken down, they know that if that happens, their biggest customer will stop coming. Ships will sit idle and factories will shut down. Millions of Chinese will be pissed off and rebellious. The rest of the world will also feel the malaise. It will be a decade of humility.

I wish that I understood the Big Picture financially, but I don't. Global economics have become a giant shell game of paper worth traded for empty promises. If any major player stops playing the game, the game ends, and the terrible truth will come out that much of the giant pot of wealth is just scraps of paper.

I've heard it said that debt is the currency of the 21st century. Bohica. The Man is at the door.

31 posted on 10/06/2009 10:20:48 AM PDT by Sender (It's never too late to be who you could have been.)
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To: Sender

“If the US suffers a humbling loss of value and spending power, it is China who will feel the heat most intimately. And they know that. While they might hope that the US be taken down, they know that if that happens, their biggest customer will stop coming.”

####

Peter Schiff, in his current book, makes the argument that the Chinese are on the verge of providing more than enough of their OWN demand for their economic output, and will not need the US consumer before too much longer.


32 posted on 10/06/2009 10:24:13 AM PDT by EyeGuy
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To: Sender

>>If the US suffers a humbling loss of value and spending power, it is China who will feel the heat most intimately. And they know that. While they might hope that the US be taken down, they know that if that happens, their biggest customer will stop coming. Ships will sit idle and factories will shut down. Millions of Chinese will be pissed off and rebellious.<<

I’m not sure if you were serious or being sarcastic. Are you aware that your words are not describing a possible future? They are describing, in fair detail, exactly what has already happened. Are you aware of the ghost fleet? Are you aware of the rioting already starting in China?


33 posted on 10/06/2009 10:30:08 AM PDT by RobRoy (The US today: Revelation 18:4)
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To: agere_contra

We’re paying for way more than just defense. Way more.


34 posted on 10/06/2009 10:51:51 AM PDT by Romulus (The Traditional Latin Mass is the real Youth Mass)
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To: Sender

” If the US suffers a humbling loss of value and spending power, it is China who will feel the heat most intimately. “

Ummmm....

When I’m sitting in my unheated, unlit house (in the country, thankfully) praying that my food stocks hold out until the beans are ready to harvest — the last thing on my mind will be the mood of the people in China....


35 posted on 10/06/2009 11:20:09 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: Romulus; agere_contra

36 posted on 10/06/2009 12:03:29 PM PDT by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: RobRoy
Yes, but that only works if you can force him off his property. That is where the analogy breaks down.

Actually, it strengthens the analogy.

How's Tibet these days?

Do you really think that same China is afraid of upsetting the Kenyan crypto-homo in the White House, or his bought and paid for Feinsteins, Schumers, and Boxers?

We're about to be evicted from the lands our forefathers died to preserve, and it's at the hand of quisling traitors like the aforementioned reptiles who got 30 pieces of silver from China etc.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

37 posted on 10/06/2009 12:14:31 PM PDT by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
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To: RobRoy

I’m aware that it has started, but the real impact is yet to be felt in the future. You ain’t seen nothing yet.


38 posted on 10/06/2009 12:22:27 PM PDT by Sender (It's never too late to be who you could have been.)
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To: The Comedian

The reason I said my analogy breaks down is that with a homeowner the government actually has authority over him. He is morally obliged to bend to the government’s will. With countries, if China wants part of the US, there will be a fight. They would not attempt it because it would bloody both sides, and their net result would be more negative than the status quo.

Little countries don’t have a chance. They may have a right to fight, but so did Belgium against Nazi Germany.

I think we basically agree, based on what I am reading.


39 posted on 10/06/2009 12:23:36 PM PDT by RobRoy (The US today: Revelation 18:4)
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To: Sender

Yep. I think rioting in city centers will be the start within the US. I also think desperate beligerent countries will start attacking their “apparently weak” neighbors. Think the other legs of the axis of evil, Iran and NK.


40 posted on 10/06/2009 12:24:55 PM PDT by RobRoy (The US today: Revelation 18:4)
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