Incoming depression

[test123]

Enjoy your cheap products from China while they last

Washington (CNN) -- President Barack Obama welcomed Saturday's news that China's central bank will allow its national currency to float ahead of the G-20 summit in Toronto, Canada, next week.

In a statement issued Saturday, Obama praised China's decision to increase the flexibility of its exchange rate, which officials hope will help balance China's trade deficit with the United States and Europe.

"China's decision to increase the flexibility ... is a constructive step that can help safeguard the recovery and contribute to a more balanced global economy," the president said in the statement.

"I look forward to discussing these and other issues at the G-20 Summit in Toronto next weekend," he said.

http://edition.cnn.com/2010/BUSINESS...ex.html?hpt=T1

http://www.youtube.com/watch?v=6O5EWtmtBTI

[Falcon]

Just because you're depressed by this news doesn't mean the rest of us will be.

[Not not Mattaru]

Video started with Ron Paul, makes my mind turn off immediately.

Good for China, moreover good for every country in competition with China in industries China is moving out of in the next decade anyway.

[Jimmyus]

Unless you're some sort of Chinese ideologue, the notion of a Chinese economy in which the value of goods and services are correctly represented should come as a good thing.

That video makes my brain hurt, especially that Gerald Celente guy. If China's currency were to appreciate relative to the dollar (New York Times and Wall Street Journal articles suggest it is actually a basket of "presently undisclosed" currencies), and subsequently they as a country were to purchase more exports, this solves rather than creates several economic imbalances (being labeled a currency manipulator is tantamount to being kicked out of the WTO, so it's not just US fear mongering or some other ridiculously inane plot), and brings China's so-called 'meteoric rise' into perspective.

Among other things, relaxing currency restrictions forces China to deal with the realities of a developing middle class that has various needs and wants not easily satisfied by state-run programs, specifically those not afforded to it behind a veil of censorship. In addition, it forces them to actually start to work on their human rights violations, something they have been easily able to elide over for the better part of two decades. You can already see the ramifications of their current policies: there has been a running example in FOXCONN, which is a leading computer chip producer that has been forced to raise salaries (read: actually pay its employees) several times after a string of suicides related to inhumane working conditions. Protests at Honda factories in China earlier this Spring followed in a similar vein. The underlying theme it seems is that while China is sometimes seen as some sort of rival to the United States, and thus we get the ominous music and excessive Ron Paul in that video, this rise is predicated on the assumption that they could get away with manipulating their currency and essentially subjecting their citizenry to harsh human rights violations. The average work week in China is something like 80 hours on average (which, incidentally, is illegal).

tl; dr? This is good and the Ron Paulites running around should calm down

[Jonny]

Enjoy your cheap products from China while they last


http://edition.cnn.com/2010/BUSINESS...ex.html?hpt=T1

lol ok brah here is a movie for you. i bet you will fucking shit bricks http://www.zeitgeistmovie.com/

[Cantih]

The fact that a google search bar auto-complete option for that fucking film shows up higher than zero punctuation then you use "ze", always pisses me off

[Jonny]

The fact that a google search bar auto-complete option for that fucking film shows up higher than zero punctuation then you use "ze", always pisses me off

yeah i typed ze and was like "oh ok lolirl"

[Kerberoz]

I thought this thread was gonna be about Zoloft.

[Mistress Stowastiq]

Unless you're some sort of Chinese ideologue, the notion of a Chinese economy in which the value of goods and services are correctly represented should come as a good thing.

That video makes my brain hurt, especially that Gerald Celente guy. If China's currency were to appreciate relative to the dollar (New York Times and Wall Street Journal articles suggest it is actually a basket of "presently undisclosed" currencies), and subsequently they as a country were to purchase more exports, this solves rather than creates several economic imbalances (being labeled a currency manipulator is tantamount to being kicked out of the WTO, so it's not just US fear mongering or some other ridiculously inane plot), and brings China's so-called 'meteoric rise' into perspective.

Among other things, relaxing currency restrictions forces China to deal with the realities of a developing middle class that has various needs and wants not easily satisfied by state-run programs, specifically those not afforded to it behind a veil of censorship. In addition, it forces them to actually start to work on their human rights violations, something they have been easily able to elide over for the better part of two decades. You can already see the ramifications of their current policies: there has been a running example in FOXCONN, which is a leading computer chip producer that has been forced to raise salaries (read: actually pay its employees) several times after a string of suicides related to inhumane working conditions. Protests at Honda factories in China earlier this Spring followed in a similar vein. The underlying theme it seems is that while China is sometimes seen as some sort of rival to the United States, and thus we get the ominous music and excessive Ron Paul in that video, this rise is predicated on the assumption that they could get away with manipulating their currency and essentially subjecting their citizenry to harsh human rights violations. The average work week in China is something like 80 hours on average (which, incidentally, is illegal).

tl; dr? This is good and the Ron Paulites running around should calm down

Glad you posted up because I have been totally confused about this but do not know where to begin to read more about it. Hearing about the suicides of the workers shocked me but the reports never relate to the cause so I did not understand why, having to speculate. I have more reading to do but it does paint a clearer picture for me.

[MF Perm tha Fineass]

I thought this thread was gonna be about Zoloft.

I took Zoloft before opening this thread.

[test123]

To put in blunt, the US is broke. And soon US bonds will be rated junk because you will never be able to pay back the loans unless there is a hyper inflation. Public debt is over 19 trillion dollars including fannie mae and freddie mac debt which the US government so "wisly" bought. If you take into accout social securty obligations (which is broke also) then US obligations are nearing 80 trillion dollars, over 5 times the GDP.

If the yuan is pegged to the dollar during this incoming hyper inflation then you would never be able to pay back loans with inflated money. This event is just the first step towards hyper inflation.

[Not not Mattaru]

To put in blunt, the US is broke. And soon US bonds will be rated junk because you will never be able to pay back the loans unless there is a hyper inflation. Public debt is over 19 trillion dollars including fannie mae and freddie mac debt which the US government so "wisly" bought. If you take into accout social securty obligations (which is broke also) then US obligations are nearing 80 trillion dollars, over 5 times the GDP.

If the yuan is pegged to the dollar during this incoming hyper inflation then you would never be able to pay back loans with inflated money. This event is just the first step towards hyper inflation.

Yes, yes, we all know you can read things on the internet too. Just come and haha at us when the apocalypse cometh. Until then quit trying to play prophet.

[test123]

So you should not worry? Is this really american mentality? Act ignorant and deal with it when it hits the fan... glhf

[Kerberoz]

Why don't you go find a treasure map on the back of the Declaration of Independence and go on an adventure to expose the Illuminati through numerology and nursery rhymes, meet up with the Mothman who is actually the shooter from the Grassy Knoll exposed to Agent Orange by the CIA and KGB in the basement of the studio where they filmed the moon landings, prove that mole people did 9/11 with thermite extracted from our drinking water, then save the economy for us? K?

[Cadsuane]

Actually the American mentality is to read layman inaccurate summaries of complex issues and fields, subsequently consider yourself an expert in a staggering display of premature enlightenment, and then arbitrarily sputter outrage and conspiracy theories regarding that issue or field to sublimate feelings of hopelessness over your completely worthless, culturally starved and empty life.

[Atreides]

Actually the American mentality is to read layman inaccurate summaries of complex issues and fields, subsequently consider yourself an expert in a staggering display of premature enlightenment, and then arbitrarily sputter outrage and conspiracy theories regarding that issue or field to sublimate feelings of hopelessness over your completely worthless, culturally starved and empty life.

truer words have never been spoken

[SwampdonkeyPLD]

So you should not worry? Is this really american mentality? Act ignorant and deal with it when it hits the fan... glhf

He just knows that we just simply need to tax the rich more. If we would just make those greedy fucks pay their fair share all our problems would go away.

[Saga]

He just knows that we just simply need to tax the rich more. If we would just make those greedy fucks pay their fair share all our problems would go away.

shhh

[Not not Mattaru]

Actually the American mentality is to read layman inaccurate summaries of complex issues and fields, subsequently consider yourself an expert in a staggering display of premature enlightenment, and then arbitrarily sputter outrage and conspiracy theories regarding that issue or field to sublimate feelings of hopelessness over your completely worthless, culturally starved and empty life.

I love you.

[Osede]

Enjoy your cheap products from China while they last

I stop reading after this line.