Posted on 07/22/2005 9:00:48 PM PDT by hedgetrimmer
Thought you were a troll until I checked your membership date.... I don't care, I still think you are a troll.
you just took a long time to explain "squat" (Palast's term) Thanks for the lesson.
Quoite: So Mr. Palast your smarter than all of the Presidents economic advisers I suppose...
He was not saying they are dumb. However they can be bought off by big special interest groups .i.e corporations wanting cheap labor so they may not be looking ou for our countries best interest.
Corporations are now longer national but international and don't always have the US best interest at heart.
Like Rush always say's: Follow the money trail.
Quote: If your stock or bond tanks, does the issuer of your investment call you and beg you not to sell it, like your credit card card company calls you looking for its payment if you miss a month? In many ways, the borrower is sitting in the driver's seat -- after they get the loan
Here we go again.. another pro trade deficit type. Ones that think the person who can't pay their monthly mortgage is the ONE in power over the lender. Today right is wrong and wrong is right.
My have our common senses been warped.
I don't know if you've been a bank examiner before, but guess what? I was. If you want reality here it is:
2 in 100 mortgage borrowers end up REO on a bank's balance sheet, no more bank.
And the bank knows that quite well. Better than you do apparrently. And you know something else? The guys that run the bank like getting paid, and hate attending hearings. A bank will just about do anything with a mortgage borrower to avoid foreclosing.
The only thing that I have been trying to say is that people that own our bonds can't wave a magic wand and bankrupt us anymore than we can wave a magic wand and pay it all back.
We would'nt want to anyway - if all the debt that is out there turned liquid overnight, the resulting hyper inflation would make the currency shocks of the Weimar Republic in the late 20's and Brazil in the 60's look like games of patty cake in comparison.
If you don't know basic economic theory, that's OK. If you want to learn, OK. If you want to assert something that just ain't so, this is the wrong place to do it...
One last thing. Deficits in and of themselves are not evil. In fact, they can be really, really, good sometimes. Other times, they are unavoidable.
Those Wal-Mart fashion designs called, chillingly, "New Order," are made in factories owned by the PLA, the Chinese Peoples' Liberation Army.
Is this brand name for real? I thought they were just a band...
Greg Palast is a college dropout who mostly hacks for Brit sources and advocates some real tinfoil hat stuff about the US when the NY Slimes is hard up for copy. He has no known expertise in economics, or anything else, despite his pretensions of superiority over Nobel prize winning Milton Friedman. This is an interesting piece because it verifies that in the leftwing Media, anyone can get published saying anything, no matter how incompetent, as long as it is antiBush and/or anti-US.
Well, you probably know the old proverb--If you owe the bank 100K, the bank owns you. If you owe the bank 100 billion, you own the bank.
China's economic survival depends on a healthy US economy. And they know it.
China's economic survival depends on a healthy US economy. And they know it.
Maybe. There's Western Europe, of course -- with a population equal to the U.S. And then there's the remainder of Asia. These are all markets for them, though with stronger import restrictions than the U.S.
The minute the Chinese figure out how to sell 150 million $300 laptops to Malaysians and Indonesians, they don't need the U.S.
The Chinese have progressed incredibly quickly from cheap plastic crap to DVD players, televisions and all manner of consumer electronics. The next step for them is high tech scientific and industrial eqiupment. The next MRI you have, it may be stamped, "Made In China."
Of course, but so what? So do we. So does every industrialized nation. We err when we interpret normal international activities as having covert nefarious meaning. No doubt China would like to do us ill if they can, but that's no different than Ford and GM.
I am no friend of China, they are a barbarian, primitive behemoth not unlike the moslem hordes. But it could be hazardous to perceive a potential holocaust in the normal pursuit of their legitimate national interests.
True, but Western Europe isn't buying anything much. That's part of why their own economies are stagnant--domestic consumption is sucking bottom. The rest of Asia is doing their best to compete with China--not become dependent on them.
I understand the situation with china. However if you think the huge trade imbalance we have with them is healthy you are the one that is needing some Econ 101.
He's speaking as though they'd be making this decision as a group. But individual banks and other currency holders will be making this decision on an independent basis, is that not so? If that's the case, then they won't likely be taking into account the effects their actions will have on their economy as a whole, but merely on their own bottom line.
Well said...
I'm all ears. School me on why the trade imbalance with the PRC is so bad.
Since you believe I need to learn econ 101, don't confuse me and mix in Poly Sci 101 with your explanation, please.
B'zzzzt. Wrong. You really don't know China's government very well. We are dealing with a hard-core communist regime that is at war with us, albeit covertly. In their populace, however, it is well understood that they are at war against us, that we are the official "Main Enemy."
Remember what Deng Xiaoping said to his fellow hardliners at the Party Congress way back in the 80's when he described how they would adopt the camouflage of appearing to reform partly towards capitalism:"What does it matter if you call the cat black or white, so long as it catches mice."
There is no such thing as "normal" international activities by them.
And recall also how the Japanese sucked up all the scrap iron on the world market like a vacuum cleaner in the 5 years preceding their bombing Pearl Harbor. Guess what the Chinese have been doing the last three years now...
So really, you need to turn your claim around, wherein you got the truth of the situation precisely standing on its head when the Chinese seek to lock up the Unocal oil and gas properties, and deep-sea drilling technology, plus the only U.S. reserves of radioactive lanthanide ores (can you say Supermagnets?)of our own resources. Remember the PRC is getting all the oil they will ever need from Iran now. Hence by trying to buy up Unocal, they are trying to obstruct OUR access to these precious resources. We err when we misinterpret covert preparations for war and subjugation, assigning benign motivations to those international activities, just because we have an agenda of not wanting to see war-like preparations as they really are.
You do recall that the PLA tried to ship in 2,000 automatic weapons, grenade launchers, mortars and such into the U.S. in a container back in the 90's aren't you? The press put out the claim that it was a shipment intended for street gangs. That would have been enough equipment to arm a brigade.
That was a lucky catch, since we inspect so few containers. How many got through? And what do they intend to do with them? They have at any one time, over 360,000 of their nationals in our country. "Students" (usually PLA) and 3,000 front-company officers and agents. Doing every thing from open acquisitions of technology to illegal piracy and espionage. All right under our noses. And nobody is lifting a finger to point out that these are a focussed GOVERNMENTAL attack by China upon the U.S. How much sabotage could a 360,000 man heavily-weaponed army do here inside our borders if the balloon goes up? Consider that our expeditionary force into Iraq was only about 125,000?
How long does it take before the "unfriendly" status is openly recognized, forcing a revocation of the improperly-granted MFN status?
It is time for America to Wake Up. Those who see no evil in China are the enemies within.
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