- Joined
- Mar 21, 2017
- Messages
- 686
- Reaction score
- 0
Yet it's already happening. Where ya been?
Murka. China. IT'S ON. [US Dials Up On Another $200 Billion Plus Another Possible $200B For $450B]
- Thread starter V-2
- Start date
Yet it's already happening. Where ya been?
- Joined
- Jul 19, 2010
- Messages
- 54,584
- Reaction score
- 11,855
According to most political commentators, there are two main privileges accruing to the United States as a function of the dollar’s reserve status. First, it allows the United States to consume and borrow beyond its means as foreigners acquire U.S. dollars. Second, because foreign governments must buy U.S. government bonds to hold as reserves, this additional source of demand for Treasury bonds lowers U.S. interest rates.
Super low cost debt and the ability to consume beyond its means, such burdens.
The whole trying to spin it as a bad thing is even more ridiculous.
All first world economies are like 70-80% services and the whole claim of that guy was that private manufacturing is the only employer in America, which is certainly not. So the advantages are that the US can literally buy material goods with monopoly money and that it can issue massive debt at pretty low prices.
The counter-arguments are just ridiculous, Japan has been on the verge of deflation thats why their central bank intervenes.
It also doesnt takes into account the massive capital flow surplus the US has into the equation, it just talks about manufacturing as the only source of employment, may as well talk about landed knights and the feudal system.
https://www.quora.com/Why-are-trade...pital-inflows-shouldnt-it-be-capital-outflows
And China certainly wants to take some of that global currency status but they dont for political reasons mainly (harder to be a repressive state with free capital flow.)
- Joined
- Mar 21, 2017
- Messages
- 686
- Reaction score
- 0
That guy, you mean Michael Pettis? His material is a gold mine of insight into China's economy and CCP development strategies in particular and they are one massive vested interest against holding currency reserve status. I'd say that's a big oversimplification of his argument and capital inflows are really only beneficial under certain conditions that don't apply much to the US these days. I've seen you post extensively enough on this topic to know how strongly you feel about it, but I ultimately view it as a net advantage anyway.
- Joined
- Oct 19, 2009
- Messages
- 3,058
- Reaction score
- 208
Chuck Schumer? I agree!
Donald Trump nuthuggers like yourself epitomize what an edgelord is.
Is it illegal to confiscate properties owned by non-citizens? Shouldn't be.
- Joined
- Mar 21, 2017
- Messages
- 686
- Reaction score
- 0
From 2014:
"As a percentage of GDP the only three countries in the world that are less interconnected than we are: Brazil, South Sudan and Rwanda. That's it. Even Afghanistan is more wired than we are... The United States controls the system, created the system but doesn't use the system and the only reason the system is still there is because of the cool heads in Washington."
"As a percentage of GDP the only three countries in the world that are less interconnected than we are: Brazil, South Sudan and Rwanda. That's it. Even Afghanistan is more wired than we are... The United States controls the system, created the system but doesn't use the system and the only reason the system is still there is because of the cool heads in Washington."
Last edited:
Yup, it's all Trump
- Joined
- Mar 21, 2017
- Messages
- 686
- Reaction score
- 0
NPR: As Vote On ZTE Sanctions Looms, Some U.S. Lawmakers Focus On A Bigger Chinese Telecom
The U.S. Senate is set to vote as early as June 18 on whether to reinstate crippling trade sanctions against Chinese telecommunications company ZTE. With that move in sight, a number of U.S. senators are taking aim at a much bigger Chinese target: Huawei - the world's third-largest seller of smartphones, behind Samsung and Apple.
Top U.S. security officials have warned for years that Huawei could pose a security risk to America by using its technology to spy on behalf of the Chinese government. Huawei has consistently denied that it gives intelligence to Chinese authorities, though many U.S. senators remain unconvinced.
Huawei is a massive company compared to ZTE. Huawei reported more than $90 billion in revenue in 2017 — five times the amount ZTE brought in. About one in eight smartphones sold worldwide in the first quarter of 2018 were Huawei phones, according to the market analysis firm IDC.
Huawei is also the world's biggest seller of telecommunications infrastructure equipment, which includes routers, modems and equipment to support cellphone towers. All that adds up to a company with 180,000 employees.
And Republican Sen. Tom Cotton of Arkansas wants to keep it out of the United States.
"These companies have proven themselves to be untrustworthy," Cotton said on the Senate floor Wednesday, lumping the fate of Huawei in with ZTE. "And at this point, I think the only fitting punishment would be to give them the death penalty — that is, to put them out of business in the United States."
The U.S. Senate is set to vote as early as June 18 on whether to reinstate crippling trade sanctions against Chinese telecommunications company ZTE. With that move in sight, a number of U.S. senators are taking aim at a much bigger Chinese target: Huawei - the world's third-largest seller of smartphones, behind Samsung and Apple.
Top U.S. security officials have warned for years that Huawei could pose a security risk to America by using its technology to spy on behalf of the Chinese government. Huawei has consistently denied that it gives intelligence to Chinese authorities, though many U.S. senators remain unconvinced.
Huawei is a massive company compared to ZTE. Huawei reported more than $90 billion in revenue in 2017 — five times the amount ZTE brought in. About one in eight smartphones sold worldwide in the first quarter of 2018 were Huawei phones, according to the market analysis firm IDC.
Huawei is also the world's biggest seller of telecommunications infrastructure equipment, which includes routers, modems and equipment to support cellphone towers. All that adds up to a company with 180,000 employees.
And Republican Sen. Tom Cotton of Arkansas wants to keep it out of the United States.
"These companies have proven themselves to be untrustworthy," Cotton said on the Senate floor Wednesday, lumping the fate of Huawei in with ZTE. "And at this point, I think the only fitting punishment would be to give them the death penalty — that is, to put them out of business in the United States."
- Joined
- Jul 19, 2010
- Messages
- 54,584
- Reaction score
- 11,855
His whole argument is based on the fallacy that you cant have high savings and low unemployment since manufacturing is being exported outside.
Thats just one big ass fallacy, its the same line of thinking that says that automation created unemployment. It also in fails to account that you dont necessarily need to run a deficit to send money overseas if Americans saved more, you can simply start giving credit, like Germany and Japan do with their savings surpluses, but instead Americans decide to overinvest in their own country until it breaks apart for the short term profits, the whole 2007 crisis was caused by overinvestments.
The main issue with America is its massive wealth inequality for such a developed nation, but thats the byproduct of a fiscal policy.
- Joined
- Mar 21, 2017
- Messages
- 686
- Reaction score
- 0
- Joined
- Oct 19, 2009
- Messages
- 3,058
- Reaction score
- 208
I Googled it to make sure it was a real story, lol.
- Joined
- Mar 21, 2017
- Messages
- 686
- Reaction score
- 0
D
Deleted member 457759
Guest
Wasn't the 2007 crisis ignited by sub prime mortgages? They packaged up a bunch of worthless bullshit into tradable securities and then interest rates rose.
- Joined
- Jul 19, 2010
- Messages
- 54,584
- Reaction score
- 11,855
Yup, but there wouldnt had been a subprime mortgage crisis without a housing bubble, and there wouldnt had been a mortgage bubble without overinvestments.
https://www.theguardian.com/commentisfree/2008/sep/25/creditcrunch.wallstreet
- Joined
- Mar 21, 2017
- Messages
- 686
- Reaction score
- 0
United States Fires Back At Beijing With Threat Of New Tariffs On $200 Billion In Chinese Goods
It's a pretty easy decision in terms of collateral damage because although agriculture is the most fundamental sector (primary) for the very survival of any sovereign nation and America is essentially the aggie superpower of the world as the biggest exporter of it by considerable distance, total output doesn't even account for 1% of the country's GDP at this point.
https://worldview.stratfor.com/article/geopolitics-united-states-part-1-inevitable-empire
American geography is an impressive one. The Greater Mississippi Basin together with the Intracoastal Waterway has more kilometers of navigable internal waterways than the rest of the world combined. The American Midwest is both overlaid by this waterway and is the world's largest contiguous piece of farmland. The U.S. Atlantic Coast possesses more major ports than the rest of the Western Hemisphere combined.
Two vast oceans insulated the United States from Asian and European powers, deserts separate the United States from Mexico to the south, while lakes and forests separate the population centers in Canada from those in the United States. The United States has capital, food surpluses and physical insulation in excess of every other country in the world by an exceedingly large margin.
Climatically, the continent consists of a series of wide north-south precipitation bands largely shaped by the landmass' longitudinal topography. The Rocky Mountains dominate the Western third of the northern and central parts of North America, generating a rain-shadow effect just east of the mountain range — an area known colloquially as the Great Plains. Farther east of this semiarid region are the well-watered plains of the prairie provinces of Canada and the American Midwest. This zone comprises both the most productive and the largest contiguous acreage of arable land on the planet.
The most distinctive and important feature of North America is the river network in the middle third of the continent. While its components are larger in both volume and length than most of the world's rivers, this is not what sets the network apart. Very few of its tributaries begin at high elevations, making vast tracts of these rivers easily navigable. In the case of the Mississippi, the head of navigation — just north of Minneapolis — is 3,000 kilometers inland.
The network consists of six distinct river systems: the Missouri, Arkansas, Red, Ohio, Tennessee and, of course, the Mississippi. The unified nature of this system greatly enhances the region's usefulness and potential economic and political power. First, shipping goods via water is an order of magnitude cheaper than shipping them via land. The specific ratio varies greatly based on technological era and local topography, but in the petroleum age in the United States, the cost of transport via water is roughly 10 to 30 times cheaper than overland. This simple fact makes countries with robust maritime transport options extremely capital-rich when compared to countries limited to land-only options.
Second, the watershed of the Greater Mississippi Basin largely overlays North America's arable lands. Normally, agricultural areas as large as the American Midwest are underutilized as the cost of shipping their output to more densely populated regions cuts deeply into the economics of agriculture. The Eurasian steppe is an excellent example. Even in modern times Russian and Kazakh crops occasionally rot before they can reach market. Massive artificial transport networks must be constructed and maintained in order for the land to reach its full potential.
Not so in the case of the Greater Mississippi Basin. The vast bulk of the prime agricultural lands are within 200 kilometers of a stretch of navigable river. Road and rail are still used for collection, but nearly omnipresent river ports allow for the entirety of the basin's farmers to easily and cheaply ship their products to markets not just in North America but all over the world.
It's a pretty easy decision in terms of collateral damage because although agriculture is the most fundamental sector (primary) for the very survival of any sovereign nation and America is essentially the aggie superpower of the world as the biggest exporter of it by considerable distance, total output doesn't even account for 1% of the country's GDP at this point.
https://worldview.stratfor.com/article/geopolitics-united-states-part-1-inevitable-empire
American geography is an impressive one. The Greater Mississippi Basin together with the Intracoastal Waterway has more kilometers of navigable internal waterways than the rest of the world combined. The American Midwest is both overlaid by this waterway and is the world's largest contiguous piece of farmland. The U.S. Atlantic Coast possesses more major ports than the rest of the Western Hemisphere combined.
Two vast oceans insulated the United States from Asian and European powers, deserts separate the United States from Mexico to the south, while lakes and forests separate the population centers in Canada from those in the United States. The United States has capital, food surpluses and physical insulation in excess of every other country in the world by an exceedingly large margin.
Climatically, the continent consists of a series of wide north-south precipitation bands largely shaped by the landmass' longitudinal topography. The Rocky Mountains dominate the Western third of the northern and central parts of North America, generating a rain-shadow effect just east of the mountain range — an area known colloquially as the Great Plains. Farther east of this semiarid region are the well-watered plains of the prairie provinces of Canada and the American Midwest. This zone comprises both the most productive and the largest contiguous acreage of arable land on the planet.
The most distinctive and important feature of North America is the river network in the middle third of the continent. While its components are larger in both volume and length than most of the world's rivers, this is not what sets the network apart. Very few of its tributaries begin at high elevations, making vast tracts of these rivers easily navigable. In the case of the Mississippi, the head of navigation — just north of Minneapolis — is 3,000 kilometers inland.
The network consists of six distinct river systems: the Missouri, Arkansas, Red, Ohio, Tennessee and, of course, the Mississippi. The unified nature of this system greatly enhances the region's usefulness and potential economic and political power. First, shipping goods via water is an order of magnitude cheaper than shipping them via land. The specific ratio varies greatly based on technological era and local topography, but in the petroleum age in the United States, the cost of transport via water is roughly 10 to 30 times cheaper than overland. This simple fact makes countries with robust maritime transport options extremely capital-rich when compared to countries limited to land-only options.
Second, the watershed of the Greater Mississippi Basin largely overlays North America's arable lands. Normally, agricultural areas as large as the American Midwest are underutilized as the cost of shipping their output to more densely populated regions cuts deeply into the economics of agriculture. The Eurasian steppe is an excellent example. Even in modern times Russian and Kazakh crops occasionally rot before they can reach market. Massive artificial transport networks must be constructed and maintained in order for the land to reach its full potential.
Not so in the case of the Greater Mississippi Basin. The vast bulk of the prime agricultural lands are within 200 kilometers of a stretch of navigable river. Road and rail are still used for collection, but nearly omnipresent river ports allow for the entirety of the basin's farmers to easily and cheaply ship their products to markets not just in North America but all over the world.
- Joined
- Mar 21, 2017
- Messages
- 686
- Reaction score
- 0
www.telegraph.co.uk/business/2018/06/19/trump-targets-another-200-billion-china-imports-tariffs/amp/
The US president said on Monday he had asked the US Trade Representative to target $200 billion worth of imports for a 10 percent levy, citing China's "unacceptable" move to raise its own tariffs.
He added he would identify an extra $200 billion of goods - for a possible total of $450 billion, or most Chinese imports - "if China increases its tariffs yet again".
"Further action must be taken to encourage China to change its unfair practices, open its market to United States goods and accept a more balanced trade relationship with the United States," Mr Trump said in a statement.
The US president said on Monday he had asked the US Trade Representative to target $200 billion worth of imports for a 10 percent levy, citing China's "unacceptable" move to raise its own tariffs.
He added he would identify an extra $200 billion of goods - for a possible total of $450 billion, or most Chinese imports - "if China increases its tariffs yet again".
"Further action must be taken to encourage China to change its unfair practices, open its market to United States goods and accept a more balanced trade relationship with the United States," Mr Trump said in a statement.
- Joined
- Apr 13, 2011
- Messages
- 32,738
- Reaction score
- 1
America has more in foreign investments than foreigners have invested in America.
This would not be a smart thing to do.
Latest posts
-
-
I would love to see Ricky Gervais and Jordan Peterson have a discussion about religion/god.- Latest: Takes_Two_To_Tango
