The US dollar will be easy to collapse

[gambit]

===================

Real Strengths ? Huh ?

Definitely 15 to 20 years ago, Maybe 5 to 10 years ago , but Certainly Not today .

Past performance is not an indicator of future returns. The world is changing...fast .


The reality as we approach 2012 :


1) According to the US Census Bureau ,today , 1 in 2 persons in America is already living at Poverty or Near Poverty levels .

That is a whopping 50% of the American population living a life of shambles , starvation , and utter desperation .

Am willing to bet US dollars to Canadian dollars that if you go to the US for a visit, you would not find anywhere even half way close to the tripe you are spewing here.

 

[Hussein]

===================

Real Strengths ? Huh ?

Definitely 15 to 20 years ago, Maybe 5 to 10 years ago , but Certainly Not today .

Past performance is not an indicator of future returns. The world is changing...fast .


The reality as we approach 2012 :


1) According to the US Census Bureau ,today , 1 in 2 persons in America is already living at Poverty or Near Poverty levels .

That is a whopping 50% of the American population living a life of shambles , starvation , and utter desperation .



Census shows 1 in 2 people are poor or low-income - BusinessWeek


Census data: Half of U.S. poor or low income - CBS News


It is so bad in the States that , even the illegal migrants are leaving the USA en masse !

Yes, The Illegal aliens find that Mexico has a better quality of life !!! ( CNN's Jack Cafferty )

Illegal aliens leaving U.S., returning to Mexico for better life? – Cafferty File - CNN.com Blogs

Number of illegal immigrants in U.S. declining - US news - Immigration: A Nation Divided - msnbc.com



2) Europeans emigrating en masse


Many are even venturing to Mozambique, Angola and Brazil .
(Huh ? Did you say they are migrating to Africa ? Africa ?? Yes, according to the European Foreign Ministry ...it seems that Africa has a better quality of life....at least 100,000 Portuguese citizens seem to think that Angola has a far better quality of life than Europe )


Europeans migrate south as continent drifts deeper into crisis | World news | The Guardian


3) Many Europeans trying desperately to get into Brazil, Argentina , some even working ILLEGALLY there .


Argentina opens doors to migrants, but settling elsewhere is harder | World news | guardian.co.uk





There seems to be a massive disconnect - Why are these people leaving ? Did someone forget to remind these people ....
Don't they know that "Western Economies have massive energy resources, R&D, cutting edge technologies, universities, infrastructure, stable political systems ?"
Then why are they leaving ???



At least there is still hope , some do actually understand the challenges and live in the real world today .

Economy*|*Ron Paul 2012 Presidential Campaign Committee

PS : And no, I do not hope to see the US Dollar collapsing. China should continue to prop it up, at least till the US Economy has truly recovered and the budget balanced .

Let's Hope 2012 will be a better year for all !

Yeah it is a lot of extremism in these conclusions.

1/ "$45,000 for a family of four " yeah not too bad. i heard americans can live with this. life is less expensive than Europe and with this amoung most Europeans have enough to live correctly. strange definition of being poor.

2/ is it a joke?
why you are playing with such unhonesty??? you didn't quote the article you do your own article.
it is nothing written about Africa richer than Europe or level of life higher than Europe.

Yeah sure people go Australia. Many Iranians go there too... Australia having no problem of employment.

Portugal's foreign ministry reports that at least 10,000 people have left for oil-rich Angola.

you understand ?
did this article say how many Africans who got the Portuguese or European nationality .. went back to their country they are originated from?
10 000? what is this? only in France there are 500 000 Tunisians !
what is this so low number... how you can draw conclusions on this?

Europe having structural problems. They try to solve.
But still .. if people live more hard life, most of them here live much above level of Africa .
But Africa is like China decades ago: from poverty you can have of course a high growth. that is starting to happen in Africa and that is then a good investment for business there.

Ah and by the way, Portugal is the poorest country of Europe , with Greece.

 

[gambit]

1/ "$45,000 for a family of four " yeah not too bad. i heard americans can live with this. life is less expensive than Europe and with this amoung most Europeans have enough to live correctly. strange definition of being poor.

If he is single and just out of school, he can live comfortably on 45k/yr and even support a G/F or wife. The article and his post are intellectually dishonest.

 

[below_freezing]

Yeah it is a lot of extremism in these conclusions.

1/ "$45,000 for a family of four " yeah not too bad. i heard americans can live with this. life is less expensive than Europe and with this amoung most Europeans have enough to live correctly. strange definition of being poor.

2/ is it a joke?
why you are playing with such unhonesty??? you didn't quote the article you do your own article.
it is nothing written about Africa richer than Europe or level of life higher than Europe.

Yeah sure people go Australia. Many Iranians go there too... Australia having no problem of employment.


you understand ?
did this article say how many Africans who got the Portuguese or European nationality .. went back to their country they are originated from?
10 000? what is this? only in France there are 500 000 Tunisians !
what is this so low number... how you can draw conclusions on this?

Europe having structural problems. They try to solve.
But still .. if people live more hard life, most of them here live much above level of Africa .
But Africa is like China decades ago: from poverty you can have of course a high growth. that is starting to happen in Africa and that is then a good investment for business there.

Ah and by the way, Portugal is the poorest country of Europe , with Greece.

portugal and greece are pretty damn rich compared to hungary, serbia and kosovo.

 

[Hussein]

portugal and greece are pretty damn rich compared to hungary, serbia and kosovo.

Serbia is not in European Union
Kosovo is not in European Union
Hungary is in UE since 2004 : but not in Euro zone.

Check here for the numbers:
Economy of the European Union - Wikipedia, the free encyclopedia

 

[lem34]

The EU is a screwed up concept because it is motivated by a Franco-German desire to raise their global profile and challenge US hegemony. To do so, they were willing to use their mercedes economy to 'pull along' the horse-and-buggy economies of Greece. Portugal, etc. They figured their economies could take the strain and bring these lesser economies up to par. The jury is still out on whether this will work.

The situation with the US is completely different; it started out as a confederation of 13 states united against Old Europe, and they purchased additional territories as they went along.

that may be so but the problem arises because the smmller countries end up surrendering setting fiscal policies to a centre where they do not have democratic representation and the policies are set to suit the bigger economies.

 

[Developereo]

that may be so but the problem arises because the smmller countries end up surrendering setting fiscal policies to a centre where they do not have democratic representation and the policies are set to suit the bigger economies.

True and, once again, it is France and Germany who run the show. In exchange for surrendering sovereignty, the lesser economies hope it will raise their standard of living closer to the mercedes economies.

In some sense it is comparable to the IMF setting down requirements before bailing out countries.

The question is, how long will the German taxpayer accept the burden of propping up corrupt officials in Greece or Poland? It's one thing to do it for East Germany, but to do it for these other countries?

 

[lem34]

It's not about being a diplomat. I truly respect America for its achievements. It is an entire continent rich in resources, both natural and intellectual, and they have the capacity to reinvent themselves.

Just because their current policies are unfortunately against Pakistan does not negate the above facts.

I do not disagree wth your first sentance other than i think its unlikely that they will revert to their previous unasailable position.

I agree with your second sentance but I had never asserted that and any suggestion as such is refuted.

Cheng is very good at derailing a topic and going off at a tangent himself and taking others I would remind you that i highlighted the comment in OP that the journalist made regarding the dollar.

Cheng stated "Cyclic failures are part of the process, and that will continue of course. Capitalism has not failed yet. Why do you think nearly one-third of new Chinese millionaires want to emigrate to the West, if only they could?
Original Post By VCheng

You are to some extent agreeing with him with the assertions you make about americans reinventing themselves.

I stated:

No mate you are wrong:


http://www.unctad.org/en/docs/gds20091overview_en.pdf doubt you will read all this but there you go.

this is a report from UNCTAD Secretariat Task Force on Systemic Issues and Economic Cooperation: Executive summary



This downturn is a systemic failure. The failure is due mainly down to de-regulation and failure to enforce rules. Capitalism is based on supply and demand, as well as risk and reward. If one takes the risk of cheating and gets away with it, he gets a reward, this leads to more cheating (heard about Mr Ponzi). By not properly regulating the system, cheaters got rewards. Multiply this by several million, and you get our current issues. If regulations had been implemented, this would never have happened. Instead, we might have had another mild recession and your cyclic crax would have resulted.

oh and btw where chinese rich want to travel is totally irelevant. very rich people have never been on the whole patriotic and wanted to travel and have homes around the globe,

now this is where we were at and cheng started talking crax. please be specific and lets talk on this my assertion being that something the western press are relativly silent on and that is that capitalism in this form has failed

 

[Developereo]

now this is where we were at and cheng started talking crax. please be specific and lets talk on this my assertion being that something the western press are relativly silent on and that is that capitalism in this form has failed

Well, I am not an economist, so I can't comment on the details of capitalism. Neither was I commenting on the ongoing discussion between you and VCheng.

My comment was simply a general observation that Americans are resourceful and I wouldn't write them off just yet. As long as the Arab dictators hate Iran more than Israel, as long as the US continues to attract the best and brightest, and as long as the US mainland remains secure and stable, there is a lot of scope for America to 'come back'.

 

[VCheng]

Am willing to bet US dollars to Canadian dollars that if you go to the US for a visit, you would not find anywhere even half way close to the tripe you are spewing here.

It is quite interesting to see those vociferous in bashing the US and it "dire" economic situation develop their dogmatic belief in the dollar collapsing with only a misleading and selective reading of sources, without having any real idea of what it is really like over here.

Yes, things are not ideal, and yes, there has been a downturn lately, but, it is still one of the best places on Earth to live, and one of the best placed societies to continue to flourish due to its inherent strengths.

The dollar will remain flying high.

 

[lem34]

It is quite interesting to see those vociferous in bashing the US and it "dire" economic situation develop their dogmatic belief in the dollar collapsing with only a misleading and selective reading of sources, without having any real idea of what it is really like over here.

Yes, things are not ideal, and yes, there has been a downturn lately, but, it is still one of the best places on Earth to live, and one of the best placed societies to continue to flourish due to its inherent strengths.

The dollar will remain flying high.

what with an unsustainable debt of 14 trillion plus and rising, one in six on food stamps and rising, real unemployment at 17 or 18%, a systemic failure.

The only thing that is stopping US from being completly impoverished is the fact that US dollar is the reserve currency. And that aint gonna last forever.

I noticed that you ifnored my comments in post 98 is it cos you have nothing to rebutt what I say other than going off at a tangent with western propaganda without any references or authority other than your gut feeling. lol

 

[lem34]

Well, I am not an economist, so I can't comment on the details of capitalism. Neither was I commenting on the ongoing discussion between you and VCheng.

.

well thank you for that unlike what I get from cheng honesty i believe is a virtue. Now I worked in the square mile known as the city of london and swam with sharks so I do have some experience in these matters. maybe thats why what seems common sense and obvious to me does not so to cheng.

---------- Post added at 01:41 PM ---------- Previous post was at 01:39 PM ----------

My comment was simply a general observation that Americans are resourceful and I wouldn't write them off just yet. As long as the Arab dictators hate Iran more than Israel, as long as the US continues to attract the best and brightest, and as long as the US mainland remains secure and stable, there is a lot of scope for America to 'come back'.

I accept the americans are resourseful, however china is turning out more engineers and graduates and those sheer numbers will change the odds so as to continue the move to a multipolar world.

 

[VCheng]

what with an unsustainable debt of 14 trillion plus and rising, one in six on food stamps and rising, real unemployment at 17 or 18%, a systemic failure.

The only thing that is stopping US from being completly impoverished is the fact that US dollar is the reserve currency. And that aint gonna last forever.

I noticed that you ifnored my comments in post 98 is it cos you have nothing to rebutt what I say other than going off at a tangent with western propaganda without any references or authority other than your gut feeling. lol

Post 98 merely rehashes previous posts already replied to.

So the US dollar is the reserve currency, and that takes of all of what you mention in one stroke.

When China's largest trading partner ceases to be USA, or when oil is sold in substantive quantities in currencies other than the dollar, I would worry. Not before.

Simple.

---------- Post added at 08:43 AM ---------- Previous post was at 08:42 AM ----------

well thank you for that unlike what I get from cheng honesty i believe is a virtue. Now I worked in the square mile known as the city of london and swam with sharks so I do have some experience in these matters. maybe thats why what seems common sense and obvious to me does not so to cheng.

---------- Post added at 01:41 PM ---------- Previous post was at 01:39 PM ----------



I accept the americans are resourseful, however china is turning out more engineers and graduates and those sheer numbers will change the odds so as to continue the move to a multipolar world.

Ah, so they kicked you out, and that explains the personal vendetta. Makes sense.

China is progressing no doubt, but so is USA. The better system will win again.

 

[foxbat]

What's really funny is that Pakistanis hope to have a better future depending on a collapse of USA economy instead of reversing the collapse of their own.. Talk about negative thinking...!

 

[fallstuff]

This will not get any better. Recession is over is a myth like the unemployment number, this will drag for years more to come.

There is a price to pay for greed and stupidity. It aint cheap.