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nom=de=plume[_2_]

"John H" wrote in message
...
On Fri, 01 Oct 2010 02:02:40 -0400, wrote:

On Thu, 30 Sep 2010 22:26:27 -0700, "nom=de=plume"
wrote:

wrote in message
...
On Thu, 30 Sep 2010 22:43:35 -0400, bpuharic wrote:

On Thu, 30 Sep 2010 22:32:41 -0400, wrote:

Certainly it can. All it would take is for China to stop buying our
debt and dump their dollars on the world money markets.

john maynard keynes once said, if you owe the bank $1000 you have a
problem. if you owe it $1M, they have a problem

china's not going to dump anything. you think they want to lose money?

what planet you right wingers live on?

That is the same kind of logic that said Japan would never attack
Pearl Harbor.

Actually, there's some dispute about us knowing or not knowing about the
impending attack.

Ah the old "FDR caused the attack to get us in the war" theory.
That usually comes from right wingers. I'm surprised.

Short term money loss is not the only thing some countries think
about, even if that is such a strange concept to us.

We've had a very stable, long-term monetary policy in the US up until
recently... about the time of Reagan. Between the Depression and then, we
had recessions but nothing severe. Then, the regs got removed and/or
gutted.
We see the result. We need to learn from our mistakes and reinstitute the
policies that stabilized our economy.

The issue is not monetary policy, it is a decline in our capacity to
produce things we can sell the world. These days most of our exports
to China are raw materials. We sell them scrap iron and they sell us
consumer goods. The real profit is in the manufacturing, not
collecting and shipping scrap iron.

China is in better shape to come out of a global depression than we
are and they will own the world when they do.

No they aren't. They're a much more rigid society. Millions would die if
their economy went bust.

They have 1.3 billion, they can afford to lose a few million but it is
unlikely it would be that bad. A global depression and fionancial
collapse could set us back over 100 years. For most of China it would
just set them back a decade or so and they are better equipped to
recover.

The rich people here will be fine, they already operate quite well in
the global economy. It will be your middle class that becomes serfs in
a neo-colonial America growing food, cutting wood and mining
materials for China.
To some extent we already are.

The rich people are usually fine. So what. The middle class would be hurt
but would recover.

Recover doing what? This isn't 1929. Our problem is not excess
capacity with no place to sell it. We don't have the ability to
produce much. We sold our factories to Mexico and China.
In the 90s.we thought we would dominate the world in the internet
business but we found out there is really not much employment there.
One guy sitting at a PC arranging drop shipments from Asia is not as
much of an employer as a whole brick and mortar store chain, then they
figured out the guy on the PC could be overseas too. (Clinton's
recession)
In the 2000s we filled that gap building houses, until the market was
so flooded that we may not work through the inventory for years to
come. (the current recession)
Now we are just staring into the hole that used to be American
industry and wondering what is next?

This is yet again a case of Chicken Little (no offense intended).

OK everything is fine, thanks, now I know my kids will be OK.

Another case of a well presented, logical argument being shrugged off with
a
liberal cliche because depoop couldn't think of a counter.

Nice job. Wasted though.
--
John H

All decisions are the result of binary thinking.

Wow... you sure contributed NOTHING to this thread! Keep up the great work
representing your viewpoint!