Chinese Yuan prepares big slam against the dollar

[Stealhead]

I noticed the favor for Obama's policies though I'd say that he is no pundit he likes what he likes dislikes what he dislikes not just a blind follower or mouth piece.

[August]

Yet another foreigner prognosticating our imminent doom. My my. 236 years and these negative nancy's ain't been right yet, no doubt to their immense chagrin.

[joegrundman]

Originally Posted by August

Yet another foreigner prognosticating our imminent doom. My my. 236 years and these negative nancy's ain't been right yet, no doubt to their immense chagrin.

fareed zakaria is an american citizen. or did you mean skybird? he's german

[Skybird]

I made no prophecies of doom, I quoted some news, and made some - I think reasonable - conclusions.

The prognosis part for 2015 was done by HSBC, which is the sixth largest enterprise in the world and the biggest bank in Europe. It is a British house. Before you call them Cassandra because oyu do not like their message, you want to make sure you are up to their level of information, August.

The rest on how the game is changing, imo is a pretty obvious writing on the wall.

[August]

Originally Posted by Skybird

I made no prophecies of doom, I quoted some news, and made some - I think reasonable - conclusions.

How many times have you typed the word "tic" when referring to my country and you claim not to make prophecies of doom?

The prognosis part for 2015 was done by HSBC, which is the sixth largest enterprise in the world and the biggest bank in Europe. It is a British house. Before you call them Cassandra because oyu do not like their message, you want to make sure you are up to their level of information, August.

You mean i'm supposed to believe the same people that have gotten Europe into the mess they're in? Oh-kay...

The rest on how the game is changing, imo is a pretty obvious writing on the wall.

Well like I said foreigners have claimed that the writing is on the wall for our imminent collapse ever since Concord Bridge. From my side of the pond their loosing streak is over two centuries old. I don't see why I should believe anything they say.

[Skybird]

Originally Posted by August

How many times have you typed the word "tic" when referring to my country and you claim not to make prophecies of doom?

Dictionary:
"auf Pump leben" - "to live on tick"

I also do not talk of an immediate doom. But a process of fall, a historic decline, with the chance that due to a variety of imaginable reasons this intensifies and indeed result in acute crisis. For example the day when the US would be unable to get any credit anymore anywhere - that would spell distater for your inner politics and economics. It would not be followed by months of delcine, but immediate riots, uprise on the streets, and storming the banks. Simply what we see in Greece, but multiplied.

It makes sense to remiond us tiome and again that our systems run on tick. And that is no good strategy. Not at all. It's a fall into the centre of the spiral, and it cannot result in anything different than disaster.

BTW, one coudl lso argue that your country indeed already shows signs of its fall. Education system is detoriating. Powergrid. Streetgrid. Job infrastructure. Not to mention finances. Debts equalling the yearly fiscal budget. Indeed, you live on tick, its a fact. Most Western nations do. When you spend more than you earn and live by means you cannot afford, you end in debts. It's only natural. And debts and their interests must be serviced.

[August]

Originally Posted by Skybird

Dictionary:
"auf Pump leben" - "to live on tick"

I know what it means Skybird. FYI I pay my credit cards off every month, i'm 28 years ahead in paying off my 30 year mortgage and the rest of my bills are always paid on time. Tic(k)? You ain't talking about this American.

[CaptainHaplo]

While I laugh at doomsday prophecies from European "talking heads" who have dug their own holes....

The reality is the dollar is going to weaken significantly. Worldwide players do what they do - but the reason for the future weakness of the dollar does not lie with China, or with the Euro, it lays at the feet of the last 11 years of US governance, along with quite a bit of history farther back....

As much as I don't care for him, Bill Clinton did balance the budget for the US. Granted - he was dragged kicking and screaming to it - but he did it. The first Bush didnt, the last Bush didn't (didn't even try!), Obama sure hasn't made any efforts either.

The dollar is weak because the government that controls it has no financial restraint, has a burgeoning and ever growing debt, and has shown no intention during recent history to correct this problem. As long as the politicians (on both sides) talk about "cutting the deficit" in terms of actually cutting the deficits GROWTH, instead of doing something sane like making the government run in "the black" on the balance sheet - the dollar will continue to weaken.

Yes - China does what it can to manipulate the currency to their benefit. Yes, European fiscal insanity has played a role.

But when it comes to the dollar growing ever weaker - actions such as unrestrained spending and quantitative easing (in all its forms - including TARP) have undermined the strength of the dollar. You want to see where the blame lies - look at Washington DC for the last decade+.

That is just the way it is..

[Takeda Shingen]

The demise of the dollar began with NAFTA. We are only now seeing the inevitable end result. We can thank Ronnie, George H. W. and Bill for this.

[mookiemookie]

Originally Posted by August

Yet another foreigner prognosticating our imminent doom. My my. 236 years and these negative nancy's ain't been right yet, no doubt to their immense chagrin.

Hey now, Skybird's called 7 of out the last 2 recessions correctly.