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On Fri, 01 Oct 2010 03:57:38 -0400, bpuharic wrote:
On Fri, 01 Oct 2010 01:13:19 -0400, wrote:
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.
so your argument is that china will take a trillion dollar loss? has
that ever happened? all you have to do is point out an event in
history and you'll have an argument
They are already braced to take that loss. China is smart enough to
see our current system is unsustainable. The only question is whether
they want to get out while the dollar is still strong or ride it down.
They may take the tough love decision to squeeze us, just to force us
into fiscal responsibility and insure a longer term market for their
goods.
Not true. They're in it for the money. They intend to keep playing. They're
certainly going to squeeze us (continue to actually) to get our house in
order. What's wrong with that? Everyone wins.
Short term money loss is not the only thing some countries think
about, even if that is such a strange concept to us.
China is in better shape to come out of a global depression than we
are and they will own the world when they do.
we're in such a depression now, remember. they aren't dumping
anything. so your experiment doesnt work
Lots of things we are seeing now have never happened before. Why would
you think other things we have not seen before can't happen in the
future? There has never been a time when other countries held this
much of our debt.
There's a difference between the unknown and the unknowable. One works to
explore the unknown. The unknowable is best left to God.
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.
they already are becoming serfs. they just dont realize it. a recent
study shows that americans have NO idea how skewed income and wealth
are in this country. and the right is certainly helping to keep this a
secret
Yet when I try to point it out you say I am wrong. Again you are
standing to the right of me.