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China Devalues Its Currency as Economic Slowdown Raises Concerns
The New York Times ^
| 10 Aug 15
| NEIL GOUGH and KEITH BRADSHERAUG
Posted on 08/11/2015 3:04:44 AM PDT by SkyPilot
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If the US does not have a major market collapse between now and October, I would be very surprised.
1
posted on
08/11/2015 3:04:44 AM PDT
by
SkyPilot
To: SkyPilot
2
posted on
08/11/2015 3:09:03 AM PDT
by
Mad Dawgg
(If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
To: blam; Kartographer
3
posted on
08/11/2015 3:16:21 AM PDT
by
driftdiver
(I could eat it raw, but why do that when I have a fire.)
To: SkyPilot
If the dollar fails...
Scarlet Memorial: Tales Of Cannibalism In Modern China
Eat more [dollars,] Chinese!
4
posted on
08/11/2015 3:16:26 AM PDT
by
HLPhat
(This space is intentionally blank.)
To: SkyPilot
Weaker economic growth has prompted sizable outflows from China in recent months, which have most likely been exacerbated by the countrys stock market volatility. A falling renminbi generally increases the risk of more outflows . . . [S]tate-run banks . . . in July made new loans worth 1.5 trillion renminbi, or about $240 billion at the time, according to data released Tuesday [more nonperforming loan?] . . . Tuesdays devaluation is likely intended to improve the market-driven quality of the exchange rate to appeal to the I.M.F. . . . However, [it's] unlikely that the Chinese government will let only market momentum drive the renminbi exchange rate from now on, . . . as that can be quite destabilizing. Red China is a bubble.
The Chi-Coms have a little over a year with Obama as president. A little over a year to freely seize the assets of the American "useful idiots" [Lenin's term for corporations] and complete Deng's version of Lenin's New Economic Policy (NEP).
5
posted on
08/11/2015 3:33:43 AM PDT
by
WilliamofCarmichael
(If modern America's Man on Horseback is out there, Get on the damn horse already!)
To: All
Looks like we'll never get paid.
United States Free Enterprise, INC.
INVOICE
- Capital, Goods and Services stolen and extorted by the Peoples Republic of China
FDI, Intellectual Property, technology, know how . . . . . . . . . . . . . . .$ 2,500,000,000,000.00
- Payments received from the Peoples Republic of China . . . . . . . . . . .$ 1,000,000,000,000.00
Amount past due . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 1,500,000,000,000.00
Your Treasury certificates are your payment receipts. Thank you.
6
posted on
08/11/2015 3:37:02 AM PDT
by
WilliamofCarmichael
(If modern America's Man on Horseback is out there, Get on the damn horse already!)
To: SkyPilot
Unfortunately, a few hours after you devalue the renminbi, you want to devalue it again.
7
posted on
08/11/2015 3:39:55 AM PDT
by
thesharkboy
(posting without reading the article since 1998)
To: thesharkboy
8
posted on
08/11/2015 3:59:05 AM PDT
by
dinodino
To: SkyPilot
China has at least 2% inflation this year. Plus, I love the funny line in the article where the country decided on 7% growth. You could see the Chinese reader thinking, “I wanted 8% growth, but no!” Like a country can ‘plan’ anything.
9
posted on
08/11/2015 5:28:00 AM PDT
by
1010RD
(First, Do No Harm)
To: WilliamofCarmichael
If China were to nationalize private companies it would be killing itself and break into a million little pieces. Plus, it would plunge much of the world into a deeper depression than we’re already in.
10
posted on
08/11/2015 5:29:35 AM PDT
by
1010RD
(First, Do No Harm)
To: 1010RD
Look about the only good thing with traitorous off shoring is a Depression in China, where millions loose their factory jobs, has zero impact on the USA. We will still buy their crappy junk.
When our factories closed down, shipped off the China, and then our laid off people went on the dole that was our depression, one we ares still in. You can't kill something that is already dead.
11
posted on
08/11/2015 5:44:21 AM PDT
by
central_va
(I won't be reconstructed and I do not give a damn.)
To: SkyPilot
Just order people to buy the cars.
12
posted on
08/11/2015 7:35:26 AM PDT
by
ichabod1
(Spriiingtime for islam, and tyranny. Winter for US and frieeends. . .)
To: SkyPilot
Here’s another thing Trump has been harping about, it happens, it happens BIG TIME, and nobody not one person says “hey, maybe he was right”.
He should jump on this.
To: 1010RD
re: "If China were to nationalize private companies it would be killing itself and break into a million little pieces. Plus, it would plunge much of the world into a deeper depression than were already in."
Sounds good to me.
As for worldwide deep depression it would last only as long as it takes for truly private companies in the West to be formed, augmented, or otherwise brought up to speed to once again produce our goods.
Westerners will just have to suffer using last year's smart phone for a few extra months in the beginning.
Meanwhile Red China disintegrates as hundreds of millions more citizens become unemployed and this time Tiananmen Square is China itself. End of Red China.
This is more in line with what I thought existed in Red China:
a significant portion of Chinas largest companies remain state-owned enterprises, private sector companies are making their mark this year in part thanks to a heated IPO market both at home and overseas. E-commerce giant Alibaba debuted at No. 269 after scoring the worlds largest IPO in history in New York last year. Other notable newcomers include Dalian Wanda Commercial Properties , run by Chinas richest man Wang Jianlin, and Lens Technologies, which turned its founder Zhou Qunfei into the worlds richest self-made woman.
Forbes
I'd be willing to bet a modest sum that no one becomes rich without the approval of the Party.
The Soviet version of NEP was so successful that it scared the commies and they terminated it and the Nepmen.. Deng's version has the Communist Party members and families becoming the billionaires.
14
posted on
08/11/2015 10:51:11 AM PDT
by
WilliamofCarmichael
(If modern America's Man on Horseback is out there, Get on the damn horse already!)
To: SkyPilot
15
posted on
08/11/2015 1:42:52 PM PDT
by
blam
(Jeff Sessions For President)
To: central_va
16
posted on
08/11/2015 1:51:54 PM PDT
by
blam
(Jeff Sessions For President)
To: central_va
I cannot take you seriously. You don’t define your terms. You lie regularly. Free trade works. Central planning fails. It’s simple if you don’t have a rear view mirror pasted to the front of your face.
17
posted on
08/12/2015 5:17:46 AM PDT
by
1010RD
(First, Do No Harm)
To: blam
18
posted on
08/12/2015 5:18:49 AM PDT
by
1010RD
(First, Do No Harm)
To: blam; hoosiermama
Trump’s been predicting this, for how long??
19
posted on
08/12/2015 5:20:48 AM PDT
by
Jane Long
("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
To: 1010RD
Look at the statistics on wages and the standard of living before 1970 and after and get back to me.
Free Traitors will one day be hunted down. You have your religion, gloBULLism, unfortunately this Free Trade "system" is not sustainable. You know it.
20
posted on
08/12/2015 5:29:23 AM PDT
by
central_va
(I won't be reconstructed and I do not give a damn.)
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