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CHINA: Global Crisis ‘Inevitable’ Unless U.S. Starts Saving
- June 01, 2009 21:46:32
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- +4 raves
- Another global financial crisis triggered by a loss of confidence in the dollar may be inevitable unless the U.S. saves more, said Yu Yongding, a former Chinese central bank adviser.
It may be helpful if “Geithner can show us some arithmetic,” said Yu. “We need to know how the U.S. government can achieve this objective.”... Read full article »
It may be helpful if “Geithner can show us some arithmetic,” said Yu. “We need to know how the U.S. government can achieve this objective.”... Read full article »
Top Comment
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Does anyone else out here agree that it's bizarre that a country run by a "Communist" Government is giving the American people better advice than its own government?View thread
That's the problem with export economies, nobody is going to let ya dump in their backyard if you don't compensate them. Such compensation usually takes the form of buying huge amounts of the big importer's currency.
He's also never heard of the Paradox of thrift - If we all save at the same time, we all become poorer.
So while Americans must indeed save more, the Chinese consumers must spend more, or global economy go boom again. Economics 205 =/
facts and figures have never been the strong suit of the Obie administration.
Hey Tim "Got Arithmetic?" ...The Treasury Secretary is supposed to be a financial genius but his method seems to be addition by subtraction...and then fudging the product.
I think Timmy's overmatched. The CBO was on to him; and
the Chinese invented the abacus.
http://www.newser.com/story/4...
China is playing a political game of warning the US that it is concerned about its investments and trying to reduce confidence on US financials so they can push for a reserve currency other than the dollar. A smart play but unlikely to work. The US dollar is still the most reliable currency.
http://www.npr.org/templates/...
The dollar will be just like Brazil's currency was in the late Eighties - Hyper-Inflated!
I do not get how NPR is a credible news source - after all, Congress and BHO are a payin' the bills!
Inflation is a worry whenever you are coming out of a recession. There is obviously an artificially large amount of currency in circulation once we come back up. Especially if we come up too fast. However as of now inflation isn't a worry. We need to get our economy up first then see where we stand before we can possibly plan for a double dip. If the need arises the Feds can always increase interest rates to counter inflation, though this may have other detrimental effects.
Your analysis, and the analysis of your sources has strayed way far from the fact that the socialist and radical idealism of Obama will override economic common sense.
Here in Carter's Second Term, it not a matter if we will suffer great economic hyper-inflation or not ... it is just a matter of when.
http://www.medicalnewstoday.c...
In regards Economics, Obama is not following some radical agenda. His policies are backed by evidence. Government spending can and will bring up the economy. FDR and Japan's recession in the 90's both point to the importance of a consistent and coordinated government spending plan. Also healthcare is a huge drain in our economy that needs reworking. Just the threat of reform has caused insurers to voluntarily come up with a plan to save 2 trillion.
http://features.csmonitor.com...
From where I'm standing Obama seems to be doing well so far.
http://www.medicalnewstoday.c...
In regards Economics, Obama is not following some radical agenda. His policies are backed by evidence. Government spending can and will bring up the economy. FDR and Japan's recession in the 90's both point to the importance of a consistent and coordinated government spending plan. Also healthcare is a huge drain in our economy that needs reworking. Just the threat of reform has caused insurers to voluntarily come up with a plan to save 2 trillion.
http://features.csmonitor.com...
From where I'm standing Obama seems to be doing well so far.
You probably think that the Obama Administration does not want to run GM either ... but Barack Obama, himself is making major and critical decisions so the fact remains that he and his Administration headed by a 31 year old politico with no, I repeat, NO business experience whatsoever. This is the decision making and leadership character of our radical and socialist new President.
Bend over and kiss all of our axxex GOOD-BYE!
You do NOT have a grip on reality and I will not continue to respond to dialog that refuses to recognize the reality of what Government actually does when it gets involved in anything. Social Security is a failure, Medicare is a failure, TARP as it was applied to save the automobile industry was a failure (remember too big to fail? ... right...
You probably think that the Obama Administration does not want to run GM either ... but Barack Obama, himself is making major and critical decisions so the fact remains that he and his Administration headed by a 31 year old politico with no, I repeat, NO business experience whatsoever. This is the decision making and leadership character of our radical and socialist new President.
Bend over and kiss all of our axxex GOOD-BYE!
You do NOT have a grip on reality and I will not continue to respond to dialog that refuses to recognize the reality of what Government actually does when it gets involved in anything. Social Security is a failure, Medicare is a failure, TARP as it was applied to save the automobile industry was a failure (remember too big to fail? ... right), and every expansion of this Government, any Government will result in less that ideal levels of success. You may want to ignore the obvious that when the Government involves itself in something ... the individual looses the CONTROL to make the decisions and hence fundamentally medicare/medicaid, social security and universal healthcare will takes away basic decision-making freedoms.
While I suppose I can understand your point about giving up freedoms for having amenities like retirement and healthcare covered, the truth is most people just want to be covered. This is my field and though I have just begun, I have already seen a few cases where patients opt-out of life saving procedures because they can't afford it. We can argue about potential freedoms lost as if it was some idealistic argument, but in reality people in the world's most powerful nation are dying because they can't get basic treatment.
What a total disaster from the Socialist leaders in Washington. They destroy wealth. They are committing crimes against America in their pursuit of personal power, money in their pockets and unfettered socialism.