Australian dollar > US dollar
Whisper
drew
> http://www.smh.com.au/business/markets/dollar-soars-to-next-record-as...
If Australia and Canada would print money as fast as the US does we
would surely be capable of devaluing our dollar and promoting our
exports also as this seems to be the way the US is dealing with the
collapse of their economy.
The US promotes free trade but they will use countervailing duties to
protect their domestic industry. Meanwhile they will consider any
social programs in other countries to be against free trade practice.
The US will scream about China artificially keeping their currency
depressed. Meanwhile they print money like wildmen and call it
quantitative easing.
The Australian dollar and the Canadian dollar should be higher than
they are when you consider the fucking great hole that the US has dug
for itself.
Whisper
Great. I'm going nuts buying cheap stuff from USA - should get even
better over next couple yrs.
Tough to predict more than 2 yrs out - US may well bounce back strongly.
drew
NOT likely.
Patrick Kehoe
>
> - Show quoted text -
Typical of the hawk repubs in the US blaming economic situation on
current admin after STRANGLING them with a WAR and an ALL TIME record
debt and debt to GNP ratio as well... Cheney/Bush/Rove some stewards
of am. democracy... that and all the banking deregluation (which
Clinton's admin was also complicit) was the final bullet to the
economy...
P
drew
Well they (we) are really buggered now. If they raise the interest
rates the economy
dives even further. If they keep the rates low they promote further
spending of cash that
doesn't exist....so print more money and now you've solved the
problem...right?
What's a poor sucker to invest in? Gold bars? Can you heat your
house with them?
Eat them?
kaennorsing
The best regulation is the one where you lose if you're inefficient
and can't compete without the help of the government. That was the
kind of deregulation that occurred, but their wasn't actual
government deregulation. Government regulations only increased during
the Bush administration - as demonstrated by the Cato institute. What
happened was they deregulated exactly the wrong things and creating
the moral hazard of bail-outs starting back in '98. The one thing the
government needed to regulate was freddie and frannie - because they
repealed market regulations by subsidising mortgages and guaranteeing
freddie and fannie debts - allowing the bubbles to form. Once they did
that they needed to regulate it, but of course didn't to help out
their banking buddies.
Just think where all the problems occurred; finance, mortgages and
insurance. The most heavily government regulated industries by far...
The source of the problem was the Greenspan Fed inflation, allowing
the irresponsible behaviour from congress and the Bush administration.
Obama and Bernanke simply made things even worse by continuing the
bail-outs, widening the fiscal hole, pursuing protectionist measures,
trying to reflate the bubble and over-regulating an already overly
regulated economy. Small banks that are efficient and not highly
leveraged can't compete, since they can't comply with the massive
regulations imposed by government. The too big to fails are protected
by these type of regulations as they have the size to comply.
The only solution is taking the power away from Washington, handing it
back to the people, allowing bankers to fail big or small,
restructuring the debts that can't possibly be paid back and the
problem solves itself... Let's see if they have the guts to actually
do this now... I'll be pleasantly surprised.
Viper
>
>
> http://www.smh.com.au/business/markets/dollar-soars-to-next-record-as-greenback-fades-20101105-17g3s.html?autostart=1
>
>
>
As long as it keeps that fuck wit Dave away, it's a blessing
Viper
bob
wrote:
was watching donald trump on cspan yesterday, said u.s. should tax all
chinese imports 25%. the interviewer asked the strong republican
trump, "don't u believe in free trade?" to which trump replied, "sure,
but there's nothing "free" and about trading with china."
speaking of currency, since i was born, i never recall the canadian
dollar being higher than ours, but last yr they over took the USD. all
happening as i predicted 5yrs ago because the u.s. cannot take care of
itself, it's dog eat dog, every man for himself. gonna vote for mr.
trump should he run in 2012.
bob
bob
i'm not sure of the details, but when i iknow personally of pepole
unemployed buying 3-4 homes at $400-500k apiece, and nearly nothing
down, and the bank giving them the mortgages - then allowing them to
take SECOND - yes SECOND - mortgages, how on earth can there be
"regulation?" simply doesn't compute...unless someone can explain it.
>The source of the problem was the Greenspan Fed inflation, allowing
>the irresponsible behaviour from congress and the Bush administration.
>Obama and Bernanke simply made things even worse by continuing the
>bail-outs, widening the fiscal hole, pursuing protectionist measures,
>trying to reflate the bubble and over-regulating an already overly
>regulated economy. Small banks that are efficient and not highly
>leveraged can't compete, since they can't comply with the massive
>regulations imposed by government. The too big to fails are protected
>by these type of regulations as they have the size to comply.
too big to fail shouldn't exist.
>The only solution is taking the power away from Washington, handing it
>back to the people, allowing bankers to fail big or small,
>restructuring the debts that can't possibly be paid back and the
>problem solves itself... Let's see if they have the guts to actually
>do this now... I'll be pleasantly surprised.
i agree - but no way on earth obama (crippled as he is now) can do
anything, nor would he want to, nor will the congress want to do this.
remember the bailuot came under paulson's watch, no?
bob
Superdave
Uncle Sam's big black hole?
Superdave
things will not get better until there is capitulation and they are still in the arrogance
phase. look for more like 20 years than 2. unless of course they start ww3 which may
very well be the less painful choice.
Superdave
i wouldn't set foot in australia if it were full of naked slutty horney women. oh wait !!!
kaennorsing
Government regulation, in the form of government backing fannie and
frannie mortgages, caused the bubble. If there was market regulation,
the government didn't have to regulate and restrict lending, but since
the government took away the market regulation they *had* to oversee
and regulate it... but didn't. The policy of housing subsidies and
implicit guarantees forced the subprime mortgages in existence. Bush
made it so. It was deliberate policy.
If the subsidies didn't exist, the lenders wouldn't have made these
risky loans since they wouldn't have been able to sell their loans to
fannie and freddy and Wall street couldn't have repackaged them and
resoled them and the whole ponzi scheme wouldn't have been possible.
It's nothing new; politicians always like to spend other peoples money
and pretend to give you stuff for free... and they always delude your
money in the process. That's what they do.
kaennorsing
> On Sat, 06 Nov 2010 00:52:32 +1100, Whisper <beaver...@ozemail.com.au>
Good thing Trump is not in Washington as he would make it an even
bigger disaster. If the US would do something as stupid as that, China
would probably sell all their dollars and collapse the currency
completely.
bob
that's all well and good, but instead of regulating it (which i have
no problem with), why not just make it clear, as you say, that if the
banks make risky loans, they'll eat it if necessary. make that clear
up front. and you'd see all that bullcrap never happen.
bob
bob
yes - but temporarily. in the long haul, they're collapsing our
currency and national strength anyway little by little ( well, not so
little anymore).
so why not own up to it all at once, and start the "rebuilding" of our
mfg and self sufficiency sooner than later?
go Donald! :-)
bob
Superdave
The USA is now fucked for at least the next 30-50 years just like Japan was.
We owe it ALL to GW Bush ! The fucktard who instead of following the lead
of the Clinton administration who left budget surpluses as far as the eye could
see decided to embark on FREE tax cuts for the rich and a TRILLION dollar war
in Iraq followed by another TRILLION to bail out his cronies running the banks
and wall street!
That is what did it. Obama could not ignore it or the nation would have died
and ugly death right then and there.
In hindsight maybe he should have let the "people" suffer the consequences
of their bad judgement in electing Dubya in the first place.
BUSH singlehandedly DOUBLED the nations deficit of 200 years in his 8 years
in office. That simple takes ones fucking breath away !
What Bush did was "hand the victory to Osama". Yup. Who can deny that the
USA has been totally fucked up since 911?
Bush played right into Osama's hands ! American's are suffering at every turn
now not Al Queda. They are laughing at us poor scared rabbits getting groped
by homosexuals seeking jobs at the TSA.
It's too sick to relish though but it is ALL GW Bushes fault.
bob
adn obama has tripled it in 2 yrs.
>What Bush did was "hand the victory to Osama". Yup. Who can deny that the
>USA has been totally fucked up since 911?
9/11 didn't have to result in a 7 yr war in Iraq/Afghanistan. and
obama is escalating Afghanistan. and the violence in Iraq just marches
on and on and on...
>Bush played right into Osama's hands ! American's are suffering at every turn
>now not Al Queda. They are laughing at us poor scared rabbits getting groped
>by homosexuals seeking jobs at the TSA. It's too sick to relish though but it is ALL GW Bushes fault.
no - it's mostly his fault, but lots of others have their hands in
other problems with teh economy. the war is only part of it. 1.4Tril
in debt 2010. 2 yrs after bush is out. bad stuff - and can't blame
him.
bob
Patrick Kehoe
>
> - Show quoted text -
The primary US debt holders - China - become the defato banker for US
econonmy and this actually serves the US well, in so far that it keeps
the Chinese (notorious for flooding the world with cheap goods
produced off of near slave wage hedgemony which is itself a tick bomb
socially/politically speaking) linked in the sense of mutual
complicity for the expansion of international commercialism as the
predominant 'ideology' (if you will)...
American stands in good stead IF 2 things happen... 1) they remain
leaders in technology and r&d and 2) as long as expansive capitalism
defines international economics... with large militaries to create a
power polarity it keeps a fundamental balance to the 'governance' of
the world... in that meta sense, the cycling of currency, investment,
unemployment etc are sort of national fictions, internal political
issues that are delt with primarily with PR, disinformation and mini-
cycles of government bailouts, loans and tax cutting measures... like
a complex shell game...
Still the very top minority profit OUTRAGEOUSLY and the poor
languish... though multi-forcated (divide up many times over) the
working middleclass (classes) just keep up the simulation of normality
via spending-saving cycles, small business initiatives, speculation in/
on simulations of money markets...
Reality is felt when the cycles of simulation are backed up or
'revealed' to be corrupt and thus cannot produce the temporary
effectiveness they are designed to... of course other
'measures' (simulational adjustments) just take over...
P