⌛ Peso continues to fall

sorry

Sorry had a misspelling again:( I meant Expecting not accepting

 

Peso approaching 48.
Global economy still going down.
Regardless of what happens next, this is the beginning of the end of the American Empire.
So much for Hamilton, Keynes and Roosevelt.
Best wishes to all of you.

 

'Regardless of what happens next, this is the beginning of the end of the American Empire.
So much for Hamilton, Keynes and Roosevelt.'
Maybe in 20 years China's economy will surpass our economy but, militarily, no country is near our capabilities.
Remember, China basically copies or steals our technology. As a whole, they are not very innovative. In the past, China invented many things but, presently, this innovative mind set is lacking. Maybe in the future this will change.
There is no perfect capitalist system. Roosevelt promoted a deficit spending economy. That is what got us out of the 'Great Depression'
When the United States sneezes, the whole world catches a cold! I cant remember where I heard this saying but, it seems to hold some truth to it.

 

Keynes argued that the solution to depression was to stimulate the economy ("inducement to invest") through some combination of two approaches :

a reduction in interest rates.
Government investment in infrastructure - the injection of income results in more spending in the general economy, which in turn stimulates more production and investment involving still more income and spending and so forth. The initial stimulation starts a cascade of events, whose total increase in economic activity is a multiple of the original investment.[1]

Give the economy a chance! Too much speculation on these greedy financial despots! Bush needs to step up to the plate and try and put some calm and reassurance into the hearts and minds of all of us. He is not a good President.

 

You're a good student of US propaganda. Roosevelt's policies did not get us out of the Depression. Neither did WW2 as is so commonly taught. The Depression did not end until 1947.
The entire concept of deficit spending Keynesian economics is flawed and will eventually end in failure. Not today, not tomorrow, but eventually. In the meantime we will continue to have huge booms and busts.
When I say the Empire will end it's in the same vein. Not today, not tomorrow but in the same way all empires have ended. It will overextend itself and be forced to pull back.
I'm not going to post any longer here as I've said all I have to say. I would encourage all you that still subscribe to the current propaganda to look into the writings of von Mises, Rothbard, Haberler and Hayek. Decide for yourselves.
See you all later.

 

In reply to Tobigboy that:
Maybe in 20 years China's economy will surpass our economy but, militarily, no country is near our capabilities.

1. Your country just ran out of money

2. While I think there is a clear technological level of superiority in many areas in the US, don't forget that China has over 1,000,000 soldiers. While that might not seem important, Americas lessons in Iraq etc is that technology can not beat an insurgency. Also if my memory is correst, China recently purchased 500 x SU 21 ?? planes. They have a greater capability than the F18's etc.
Don't underestimate the Chinese.

cheers, Dave

 

Tubigboy, a country/government which is so sure and proud if itself that it has the better knowledge, army/wappons etc. etc. is deemed to be overtaken by another power.
Your arguments sound very much like that kind of attitude of overrating.
I learned in my company (a very big global company !!!!) NEVER to even think that you still will have the first market place for the next years.
Always believe that others are also able to do what you did, so take new initiatives to stay number one.
China in 20 years ???? maybe ????
Whow....... I am stronger believing that China will be number one in less than 10 years
Why ? Because:
1) I have seen the progress they made in the 10 years a came there for my business
2) China has the spirit (like Japan and Korea had) to get at the top (Why ? Because they are not liking to be underrated by others )
Look to the graphics of improvement rates what China has achieved economically and you can extend that line for you prognosis.
My two cents.

 

You guys are talking as if US is only country in the financial hole.....Hello?? Noticed what's going on around the world financially lately?

And placing the subprime blame entirely on Bush is naive to say the least, if anything you should blame the Democratic controlled congress that mandated banks and mortgage companies to provide loans to low income households, minorities, and those with little or bad credits.....I would speculate this is what's accounted for most significantly of loan failures.

I am also hearing a lot of talk about China, how many you actually spent any (significant) amount of time in China? How well do you know about it's people, culture and politics?

To confidently say that China will overtake US in 20 years is overly optimistic (I'm sure many you are dying to see that) even if you'd assume that US would stay at 0% growth for the next 20 years. If I recall correctly, avg GDP per worker in the US is 20+ times higher than Chinese. I don't know of any countries including Japan and Korea that grew 20X GDP in twenty years historically....please enlighten me.

 

No need to enlighten you.
You seem to know it already.
BTW: I did not mention the ACTUAL figures, I did mention the progress RATES. These are for me more relevant indicators.
Economical progress RATES.
The debts of the US are also not a temporary thing.
But we both have simply different believes.
My main remark: Don't underestimate what China is able to.
Yes, I have been there at least 7 times a year in nearly 10 consecutive years.
No, I did not LIVE there for a while, which you obviously did.

 

can't disagree on progress

Ok agreed, China is definitely growing (or progressing) at a much faster pace than US & will likely continue into the next decade....

Interesting read...

China's per capita GDP to hit US$3,000 in 2020


And yes, I do live in China, for now