This news is enough to crash the stock market
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Originally posted by Ice Dive:
Trading in S shares in SGX or actual china market ?
The chinese stock is a joke .... After all the analysts saying about growth of ferrochina for more than a year , suddenly you see a big hole in less than a week.
I will never touch China stocks... not even those in SGX, they are good for gambling and I dont do gambling. www.casinogamblingprevention.com
I dont know anything about "ferrochina "
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The current financial crisis in the USA could have been forestalled if the original 1933 US Glass-Steagall Act was not repealed in 1999.
To understand the cause of the present crisis you could try reading - ‘Shattering the Glass- Steagall Act’ by William Kaufman - which will reveal that a free wheeling system driven by profit will only lead to a spiral in greed that leads to the blinding of sensible foresight.
This can happen to the strongest and even the most talented - which has happened even in Singapore, when our self-acclaimed talented politicians cannot resist the idea that their astute political foresight cannot possibly qualify them to be good investors.
This is surprising for Singaporeans considering that this Government had legislated that Banks in Singapore should diverse themselves from all non-banking activities - (properties, general insurance, stock broking, etc).
Yet, the Government will not scrutinise themselves from functioning as politicians, and their roles as ministers, while taking assuming major oversight roles in GLCs.
Read also the following:-
‘The Long Demise of Glass-Steagall’
‘The Rise of the Commercial Banks’
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I prefer to look into the future than to look at the past unless it helps one to see the future clearer.
In God we trust but apparently you cannot trust the USA
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Without looking and learning from the past, is there any basis to look into the future, or do we have to learn from the same sad lessons repeatedly again ?
If we cannot trust the US political process who can we trust ?
At least in the USA, the citizens have total control of their own political future every 5 Years in a Democracy that guarantee no one single person or political party can manipulate the political process for their own benefit.
Can we say the same for Singapore ?
Compare the political system of the USA and Singapore - it is pathetic that Singapore with a population size that is about 22 times smaller than the USA cannot even afford an electoral system that allow Singapore a chance to heal herself from the excesses of ONE Man and HIS Political Ambitions.
Despite the enormity and complexity of its political system, the USA continuously see a peaceful transition of political power - from one President to another.
In Singapore, our ONE MAN authority has the arrogance to foresee the need to have the SAF take over the government in the event that Singaporeans should vote for a NEW Singapore Government formed by some Alternative Political Party.
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Originally posted by Atobe:
Without looking and learning from the past, is there any basis to look into the future, or do we have to learn from the same sad lessons repeatedly again ?
If we cannot trust the US political process who can we trust ?
At least in the USA, the citizens have total control of their own political future every 5 Years in a Democracy that guarantee no one single person or political party can manipulate the political process for their own benefit.
Can we say the same for Singapore ?
Compare the political system of the USA and Singapore - it is pathetic that Singapore with a population size that is about 22 times smaller than the USA cannot even afford an electoral system that allow Singapore a chance to heal herself from the excesses of ONE Man and HIS Political Ambitions.
Despite the enormity and complexity of its political system, the USA continuously see a peaceful transition of political power - from one President to another.
In Singapore, our ONE MAN authority has the arrogance to foresee the need to have the SAF take over the government in the event that Singaporeans should vote for a NEW Singapore Government formed by some Alternative Political Party.
Simply said:"Trust No One."
Which part of the conspiricy theory you forgot? Nothing can be trusted. -
Originally posted by Atobe:
Without looking and learning from the past, is there any basis to look into the future, or do we have to learn from the same sad lessons repeatedly again ?
If we cannot trust the US political process who can we trust ?
At least in the USA, the citizens have total control of their own political future every 5 Years in a Democracy that guarantee no one single person or political party can manipulate the political process for their own benefit.
Can we say the same for Singapore ?
Compare the political system of the USA and Singapore - it is pathetic that Singapore with a population size that is about 22 times smaller than the USA cannot even afford an electoral system that allow Singapore a chance to heal herself from the excesses of ONE Man and HIS Political Ambitions.
Despite the enormity and complexity of its political system, the USA continuously see a peaceful transition of political power - from one President to another.
In Singapore, our ONE MAN authority has the arrogance to foresee the need to have the SAF take over the government in the event that Singaporeans should vote for a NEW Singapore Government formed by some Alternative Political Party.
If i'm not mistaken, this current financial crisis was decades in the making.
Yet, despite the USA citizens' "supposedly" total control of their own political future their political leadership still led them to the current mess. So can we say the USA citizens really understood what they were voting for?
Or would they keep getting trained lawyers that could only give them the illusion of hope by fancy speeches but still engaging in the same mistakes of their predecessors?
I'm not disputing that being able to peacefully transfer political power is not desirable, but before we start demanding change we have to make sure that the people replacing have an idea of how to make things better, not engage in fancy short term plans or attention grabbing antics.
Democracy is the responsibility of the citizens, not a natural right. When you start believing in it as a right, it means you no longer have to responsible for upholding its integrity.
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Originally posted by Atobe:
Without looking and learning from the past, is there any basis to look into the future, or do we have to learn from the same sad lessons repeatedly again ?
If we cannot trust the US political process who can we trust ?
At least in the USA, the citizens have total control of their own political future every 5 Years in a Democracy that guarantee no one single person or political party can manipulate the political process for their own benefit.
Can we say the same for Singapore ?
Compare the political system of the USA and Singapore - it is pathetic that Singapore with a population size that is about 22 times smaller than the USA cannot even afford an electoral system that allow Singapore a chance to heal herself from the excesses of ONE Man and HIS Political Ambitions.
Despite the enormity and complexity of its political system, the USA continuously see a peaceful transition of political power - from one President to another.
In Singapore, our ONE MAN authority has the arrogance to foresee the need to have the SAF take over the government in the event that Singaporeans should vote for a NEW Singapore Government formed by some Alternative Political Party.
Objection sir,
USA got much more population than us and not merely 22 times only.
We do hv election every 4 to 5 years, but unlike USA who has more talent peoples due to it population and education, they are more enlighted with human rights and not so fragile, we singapore is a small country with no potential oppositions of the right talent to wins over the peoples of Singapore, yet without natural resources, we are a fragile nation, any wrong move in electing the wrong person could be total disaster for the whole nation.
The whole scenrios of politics is different between us and USA, it cannot be an apple to apple comparison, there are culture, history, populations and many others differences to consider.
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Originally posted by Stevenson101:
I don't see why an institution that has the legal authority to print money for an entire country should even be privately owned in the first place
Exactly, its a corporate-fascist hijacking of the US Government that goes back to the founding of the Fed. How can the political leadership remain independent when the money that drives so-called 'economic growth' is subject to the board of the Fed? Kennedy tried to usurp the authority of the Fed by granting the USG the authority (E.O 11110) to issue its own money and look what happened to him. Today, while Obama's choice of well-connected individuals to form his government are being criticised, the real scandal is that most are from the financial sector- ex-Fed, ex-Goldman Sachs exployees.
As Napoleon said "The hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency: their sole object is gain."
Even back then he was aware of this inhumane flaw of the monetary system. Today, most are unaware and prefer to indulge in pseudo-intellectual antics that wouldnt solve the fundamental problem.
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Originally posted by freedomclub:
Exactly, its a corporate-fascist hijacking of the US Government that goes back to the founding of the Fed. How can the political leadership remain independent when the money that drives so-called 'economic growth' is subject to the board of the Fed? Kennedy tried to usurp the authority of the Fed by granting the USG the authority (E.O 11110) to issue its own money and look what happened to him. Today, while Obama's choice of well-connected individuals to form his government are being criticised, the real scandal is that most are from the financial sector- ex-Fed, ex-Goldman Sachs exployees.
As Napoleon said "The hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency: their sole object is gain."
Even back then he was aware of this inhumane flaw of the monetary system. Today, most are unaware and prefer to indulge in pseudo-intellectual antics that wouldnt solve the fundamental problem.
I actually had to look up the meaning of pseudo-intellectual, you do realise as a person who do not neccessarily see things the same way as you i can accuse you of the same thing ?
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Exactly, its a corporate-fascist hijacking of the US Government that goes back to the founding of the Fed.
So you mean the oligarchy controls U.S government?
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Originally posted by Ah Chia:
Exactly, its a corporate-fascist hijacking of the US Government that goes back to the founding of the Fed.
So you mean the oligarchy controls U.S government?
or the cartels -
That is like Russia in the 1990s.
Russian Oligarchs To Be Liquidated
http://english.pravda.ru/main/18/89/355/11222_oligarchs.html
Hope that U.S government can liquidate their local oligarchs too, otherwise forever be under their control and influence, more AIG bonuses bullshit.
Taking on the banking cabal
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Originally posted by Stevenson101:
I actually had to look up the meaning of pseudo-intellectual, you do realise as a person who do not neccessarily see things the same way as you i can accuse you of the same thing ?
Sure, if it doesn't recognise the root of the problem. So what issue do you have about what I posted?
I am glad though that you recognise the privately-owned Fed is controlling the money supply of the US.
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Originally posted by Ah Chia:
Exactly, its a corporate-fascist hijacking of the US Government that goes back to the founding of the Fed.
So you mean the oligarchy controls U.S government?
Russia, US, or any other country would still mean the same thing. The exploitation of human beings for the sake of profit, whether its monetary or political.
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The exploitation of human beings for the sake of profit, whether its monetary or political.
Hugo Chavez of Venezuela is trying to put a stop to that.
Venezuela: Mass organisation, unity increases as revolution deepens
“This government is here to protect the people, not the bourgeoisie or the rich”, proclaimed Venezuelan President Hugo Chavez on February 28, as he ordered soldiers to take over two rice-processing plants owned by Venezuelan food and drink giant Empresas Polar.
The move was made in order to ensure that the company was producing products subjected to the government-imposed price controls that aim to protect the poor from the affects of global price rises and inflation.
Under Venezuelan law, companies that can produce basic goods regulated by price controls must guarantee that 70-95% of their products are of the regulated type.
“They’ve refused 100 times to process the typical rice that Venezuelans eat”, said Chavez. “If they don’t take me seriously, I’ll expropriate the plants and turn them into social property.”
Four days later, Chavez announced the expropriation of a rice-processing plant owned by US food giant Cargill after it was revealed the company was attempting to subvert the price controls.
Moving against capital
In the following period, “Venezuela’s National Institute of Lands (INTI) [took] public ownership of more than 5000 hectares of land claimed by wealthy families and multi-national corporations and is reviewing tens of thousands more hectares across the nation”, Venezuelanalysis.com reported on March 11.
This includes the March 5 expropriation of 1500 hectares of a tree farm owned by Ireland’s Smurfit Kappa. The government has pledged to move away from eucalyptus trees, which were drying up the land, and turn the land over to cooperatives for sustainable agriculture.
On March 14, Chavez decreed a new fishing law, banning industrial trawl-fishing within Venezuela’s territorial waters.
“Trawling fishing destroys the sea, destroys marine species and benefits a minority. This is destructive capitalism”, explained Chavez on his weekly TV show, Alo Presidente the following day.
Venezuelanalysis.com reported on March 17 that the government will invest US$32 million to convert or decommission trawling boats, as well as to development fish-processing plants.
“Thirty trawling ships will be expropriated, Chavez said, due to the refusal of their owners to cooperate with the plans to adapt the boats to uses compliant with the new fishing regulations.”
Small-scale fisherpeople will have access to the converted boats.
Anti-crisis measures
This latest wave of radical measures by the Chavez government should be seen in the context of the ongoing process of nationalisations since early 2006, the onset of the global economic and food crises and the February 15 referendum victory.
The government has re-nationalised privatised industries such as electricity, telecommunications and steel. Cement companies, milk producing factories and one of Venezuela’s major banks have either been, ore are in negotiations to be, nationalised.
Unlike the state interventions currently being undertaken in the imperialist centres, the aim of these moves is not to bail out bankrupt capitalists, but to help shift production towards meeting people’s needs — in service provisions (phone lines, electricity, banking) and production of essential goods (concrete, steel for housing and factories, and food).
Last July, the government made strong signals that its next targets would be two strategic sectors previously barely touched — food and finance.
The day after announcing the planned government buyout of Banco de Venezuela (which, once completed, will give the government control over close to 20% of the banking sector), Chavez issued 26 decrees, a number of which increase government and community control over food storage and distribution — and allow the state to jail company owners for hoarding.
Moves aimed at increasing government control over food production come amid soaring world food prices and 30% inflation within Venezuela — which is still dependent on imports for 70% of its food supply.
The government also faces an ongoing campaign of food speculation and hoarding carried out by the capitalist food producers and distributors in order to destabilise the anti-capitalist government.
With oil prices plummeting by almost $100 per barrel from a high of more than US$140 last year, the government is tightening the screws. Oil accounts for 93% of the government’s export revenue and around half of its national budget.
The government has already announced the restructuring of its ministries, merging a number of them in order to cut down on bureaucracy.
The Chavez government is making it very clear that it will be the capitalists, not the people, who will pay for the mess that the capitalist system has created.
“I have entrusted myself with putting the foot down on the accelerator of the revolution, of the social and economic transformation of Venezuela”, Chavez explained on March 8.
Mandate for socialism
These latest moves follow the government’s victory in the February 15 referendum.
Officially, the referendum concerned whether to amend the constitution and remove limits on the number of times elected officials could stand for re-election. At stake was the possibility of Chavez standing for re-election in 2012.
In the context of the intense class struggle, it became a referendum on the socialist project pushed by Chavez.
Addressing tens of thousands of supporters from the balcony of the presidential palace after the victory, Chavez noted that those that had voted “yes” had “voted for socialism, voted for the revolution”.
The referendum was proposed by Chavez as a “counter-offensive” against the opposition following the November 23 regional elections.
Candidates from Chavez’s United Socialist Party of Venezuela (PSUV) won the overwhelming majority of governorships and mayoralties.
However, opposition victories in key states on the Colombian border (where there is growing right-wing paramilitary activity) and the Greater Caracas mayoralty were viewed as important gains for the counter-revolution.
Opposition governors and mayors began to use their new positions to attack community organisations and the pro-poor social missions.
The rapid mobilisation to defeat these attacks by the poor and working people was converted into the formation of 100,000 “Yes committees” to campaign in the referendum, in poor communities, workplaces and universities across the country.
These committees were the backbone of the successful referendum campaign.
Organising for revolution
The latest measures will undoubtedly intensify the class conflict in Venezuela.
An example of this conflict has resulted from the government’s program of land reform, aimed at ending the domination over agriculture by a small minority of large landowners.
Previous attempts by the government to redistribute land have resulted in a violent counter-offensive by large landowners that has resulted in the murder of more than 200 peasants since the land reform law of 2001.
On March 9, land reform activist Mauricio Sanchez was murdered in Zulia, two weeks after campesino activist Nelson Lopez was shot dead in Yaracuy.
Increasingly, trade unionists have also been the target of violent repression when struggling for their rights. On January 29, two workers at Mitsubishi plant were killed by police during an industrial dispute — sparking protests and the arrest of a number of police.
Several peasant organisations are seeking to unite their forces in support of government measures and against repression. The PSUV leadership has also called for a restructuring of the party to better organise the masses for the coming battles.
Launched after Chavez’s 2006 re-election to help accelerate the revolutionary process, the PSUV brought together a range of revolutionary forces as well as opportunist and corrupt layers.
On March 6, the national leadership of the PSUV made public a series of decisions aimed at deepening participation and democracy in the party.
This includes a recruitment drive to sign up new militants, a clean out of the current membership lists, the reactivation of the grassroots socialist battalions and the organisation of an extraordinary congress for August to deepen discussion over the party’s program and principles.
Building on the success of the “yes” campaign, the PSUV will move to consolidate national mass fronts of workers, peasants, women and students — along with converting the “yes committees” into ongoing “socialist committees”.http://www.globalresearch.ca/index.php?context=va&aid=12848
USA also needs someone like Chavez to go and break up the power of the oligarchy there.
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Originally posted by Atobe:
Without looking and learning from the past, is there any basis to look into the future, or do we have to learn from the same sad lessons repeatedly again ?
If we cannot trust the US political process who can we trust ?
At least in the USA, the citizens have total control of their own political future every 5 Years in a Democracy that guarantee no one single person or political party can manipulate the political process for their own benefit.
Can we say the same for Singapore ?
Compare the political system of the USA and Singapore - it is pathetic that Singapore with a population size that is about 22 times smaller than the USA cannot even afford an electoral system that allow Singapore a chance to heal herself from the excesses of ONE Man and HIS Political Ambitions.
Despite the enormity and complexity of its political system, the USA continuously see a peaceful transition of political power - from one President to another.
In Singapore, our ONE MAN authority has the arrogance to foresee the need to have the SAF take over the government in the event that Singaporeans should vote for a NEW Singapore Government formed by some Alternative Political Party.
I said we cannot trust the USA to contain hyper inflation because that would mean sacrifices by the American people/American economy.
No matter how wonderful the "US political process" is, and it is wonderful, the process is for Americans to elect an Americam president to take care of America.
It is not Americans voting for the president of the world.
Obama is not elected to take care of the world or the world economy.
While it is nice to know what caused the current crisis, it is even better to know what crisis we will be facing in the near future and make plans against that.
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If you get it right, knowing what is about to unfold will help you protect your wealth and / or help you make a ton of money!!
This is an opportunity of a century!!!
But if you get it wrong and/or you do not have the requisite skills, (driven too much by fear and greed, not being able to understand how the swings will destroy you) playing the markets will ruin you!
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Originally posted by Stevenson101:
If i'm not mistaken, this current financial crisis was decades in the making.
Yet, despite the USA citizens' "supposedly" total control of their own political future their political leadership still led them to the current mess. So can we say the USA citizens really understood what they were voting for?
Or would they keep getting trained lawyers that could only give them the illusion of hope by fancy speeches but still engaging in the same mistakes of their predecessors?
I'm not disputing that being able to peacefully transfer political power is not desirable, but before we start demanding change we have to make sure that the people replacing have an idea of how to make things better, not engage in fancy short term plans or attention grabbing antics.
Democracy is the responsibility of the citizens, not a natural right. When you start believing in it as a right, it means you no longer have to responsible for upholding its integrity.
The current financial crisis began when the 1933 Glass-Steagall Act was dismantled to allow US Banks to compete with foreign banks who were not regulated by similar legislations.Unfortunately, unlike the foreign banks that were less gung-ho and more conservative in self-regulations, the innovative and entrepreneurial spirit of the American Enterprise was more pervasive then the Legislators could foresee when dismantlying the original intentions of the 1933 Glass-Steagall Act.
Although there were alarm bells raised on the questionable growth and multitude of diferent varieties of derivatives, the profit driven Capitalist System were blind sided by those who were more enterprising and able to placate these concerns with the profits that were generated on paper at least.
Can anyone ever question profitability in the Bottom Line ?
Corporate America was allowed more leeway by the politician-legislators in a global market that demanded level playing field in free access and free competition, and the politician-legislators also had to answer to their electorates if Corporate America has to lose market shares and unable to keep US Citizens employed.
Was there a disconnect ?
There certainly was a disconnect when politician-legislators were not tuned in to the new and more sophisticated financial programmes or instruments that make up a large proportion of derivatives that were traded across borders and international timelines - and touched every financial institutions globally.
Should politician-legislators be blamed, or the Civil Servants that were supposed to be watch-dogs of the market place to be blamed - or the Citizens themselves ?
If you are referring to Obama as a trained lawyer "that could only give them the illusion of hope by fancy speeches but still engaging in the same mistakes of their predecessors" - it is less then 100 days of his term.
Give him a break.
LKY was a trained lawyer that gave fancy speeches in his younger days too, and gave an illusion of hope for those that were supposed to have been struggling in the 1950s - AND after more then 50 years in politics, Singaporeans are still struggling in this 21st Century.
Are you suggesting that we do not trust lawyers ?
Can you be sure of anyone with a better idea, if you do not put that person to the test on the job ?
Should anyone employ you on the basis of your effort to market your abilities, or do you need someone to employ you first and put you on the job to see what you can achieve ?
Should you not give yourself a chance to see if someone can do a better job for Singapore simply based on his plans, now that we know how much the existing plans have consistently drag us into a deeper hole that require us to struggle as much as our forefathers in the 1950s ?
It is the responsibility of the Citizen to guard DEMOCRACY as a Natural Right of a Citizen of The Country.
Can one be a meaningful Citizen WITHOUT any NATURAL RIGHT ?
Only the Singapore Government will lie to Singaporeans that CITIZENSHIP is a privilege to us, and Democracy is NOT a God given Right.
This is the Political Principle and Philosophy of an arrogant Despot, who will only dispense the rights of Citizenship according to his own standards.
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Originally posted by angel7030:
Objection sir,
USA got much more population than us and not merely 22 times only.
We do hv election every 4 to 5 years, but unlike USA who has more talent peoples due to it population and education, they are more enlighted with human rights and not so fragile, we singapore is a small country with no potential oppositions of the right talent to wins over the peoples of Singapore, yet without natural resources, we are a fragile nation, any wrong move in electing the wrong person could be total disaster for the whole nation.
The whole scenrios of politics is different between us and USA, it cannot be an apple to apple comparison, there are culture, history, populations and many others differences to consider.
Excuse me, mei mei...
Even if the USA has more population than Singapore by another factor of 3x of what I had stated earlier - it still put Singapore's democratic practices to be laughable based on the standards of LKY and the PAP.
If facts are to be stated accurately, the USA has a population of 307,212,123 (est 2009 - while Singapore's population is only 4,657,542 (est. 2009).
Despite the larger size in population and land, the USA has the ability to allow almost 98 percent of the population to participate in the Electoral Process.
With talents like you, why do you believe in the propaganda espoused by LKY and the PAP that there are few or no talents in Singapore ?
Despite the supposed dearth of talent, every 5 years or so - the PAP is able to recruit new faces whom they claim to be talents.
In other words, should we believe that only the PAP has the ability to find the rare Singapore Talents, while everyone not in the PAP are "untalented" ?
Surely, you are too modest about your own talent, considering the views that you have published in this Speaker's Corner alone ?
If we compare the difference in population ratio - young Singaporeans have been stated to have excelled the students in the USA in Mathematics and Sciences; and in so many other fields, Singapore has boasted to have even pip the USA in World Ranking.
Yet, when it comes to Talent - why should this Government insist that we have less talent than the USA ?
We could allow some correctness in the statements made by LKY and his Government - only insofar as the physical numbers of talented Singaporeans when compared to the USA.
However, by the same token of ratio in population size, Singaporeans would have the same ratio of talents that this Government refused to allow Singaporeans to know and to believe that we have a sizeable Singapore Talents amongst us.
Singapore is about the size of New York City, but with a much smaller population than the "Big Apple" - estimated to be 18 Million.
Yet in Singapore, we have more mayors and MPs running this Island City that has a population smaller than New York City.
Should we then conclude that :-
either the claim made by LKY and the PAP is false - that they have all the available talents but still need so many talents to run a smaller Singapore City;
or that the ONE MAN MAYOR of New York City is smarter and more efficient than all the PAP Mayors and MPs that are needed to run all the Town Councils in Singapore?
Yes, culture, history, population, education, circumstances are all different - but politics remains as politics - even as issues may differ.
The Principle of Democratic Practices remains the same, even as variations may exist in one form from the other.
Can our Democratic Practices in having an Election every 5 years amount to being democratic - considering the manipulation that exist to prevent Singaporeans from fully participating and engaging on the issues ?
Given the track record of what LKY has said and done, it is obvious that he will not submit himself to the vagaries of a fair and open election system that allow Singaporeans a free and open election - that is to hold one without the broadcast and print media being muzzled, without the election boundaries being manipulated, without the GRC becoming ever bigger, without further increase in rules and regulations that handicap the Alternative Parties, and with the ballot boxes closely guarded by volunteers and properly marked to prevent any claims of tampering by any political parties.
To put it more simply - can you honestly say that a Blue Label Whisky served in a bar in Singapore is different in taste from a similar Blue Label served in a New York bar ?
The bar in a Hard Rock Cafe in New York may take on a different decor and present a different atmoshpere from one in Singapore or Hong Kong, but the drinks from the bottles should all be familiar to those who have tasted it.
The standards of a Hard Rock Cafe should be the same throughout the globe.
Politics as practised in a Democracy should reflect a certain minimum standard of decency, accuracy, transparency, and honesty - which unfortunately does not exist in the democratic practices seen in Singapore since 1957.
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Originally posted by AndrewPKYap:
I said we cannot trust the USA to contain hyper inflation because that would mean sacrifices by the American people/American economy.
No matter how wonderful the "US political process" is, and it is wonderful, the process is for Americans to elect an Americam president to take care of America.
It is not Americans voting for the president of the world.
Obama is not elected to take care of the world or the world economy.
While it is nice to know what caused the current crisis, it is even better to know what crisis we will be facing in the near future and make plans against that.
If you cannot trust the USA to contain hyper-inflation because of your parallel concern for the sacrifices to be made by the American people/American Economy - then, what do you propose to be done ?Unfortunately, even if you are correct that the American Electoral Process is to elect an American President to take care of America - the whole World is looking to the American President to take the appropriate actions that can benefit the whole World.
This concerns not only the remaking of the broken financial institutions, but also America's lifestyle that is affecting the global environment - from fuel shortages to global warming, from consumption of products manufactured by a global free enterprise system to America's leadership in taking on any despots that will dare to disrupt the world order.
On this basis, even if Obama is not elected to take care of the World or the World Economy, the entire world is looking towards his leadership in resolving USA domestic problems that are affecting the whole World.
It is not only nice to know the causes of the crisis but essential to know the causes in order not to repeat the same in the future.
Can you make any plans to prepare for the future, when you do not even know what had caused the happenings today ?
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Originally posted by Atobe:
If you cannot trust the USA to contain hyper-inflation because of your parallel concern for the sacrifices to be made by the American people/American Economy - then, what do you propose to be done ?Unfortunately, even if you are correct that the American Electoral Process is to elect an American President to take care of America - the whole World is looking to the American President to take the appropriate actions that can benefit the whole World.
This concerns not only the remaking of the broken financial institutions, but also America's lifestyle that is affecting the global environment - from fuel shortages to global warming, from consumption of products manufactured by a global free enterprise system to America's leadership in taking on any despots that will dare to disrupt the world order.
On this basis, even if Obama is not elected to take care of the World or the World Economy, the entire world is looking towards his leadership in resolving USA domestic problems that are affecting the whole World.
It is not only nice to know the causes of the crisis but essential to know the causes in order not to repeat the same in the future.
Can you make any plans to prepare for the future, when you do not even know what had caused the happenings today ?
I am saying that it is not productive to keep on "harping" about the cause of what is happening today.
"Greed" "Recklessness" "Trying to make profits without producing something" and let's say that this was made possible by the repeal of the GSAct, but I submit that it is much more productive to see how the "cure" will affect the future.
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Just because the whole world is " the whole World is looking to the American President " does not mean that the American President will put the Whole World first and America second.
The whole world and the Americans are presuming that what is good for America is good for the whole world.
I am saying that what is good for the Americans is "Not Necessarily" good for the whole world and the massive increase in quantity of the US$ dumped on the world is good for the Americans and bad for the rest of the world.
The Americans print large quatity of US dollars and distribute it to Americans. It would be good for the Whole World if the Americans print US$ and distribute it around the world.
Think of it like, Singapore government prints lots of new notes and distributes it to PAP, the party and party members. That is good for the PAP but bad for the rest of Sinagporeans. PAP will of course tell you that what is good for the PAP is good for Singaporea and Singaporeans. The Singapore government prints new money and distribute to everyone in Singapore is better.
America prints US dollars and distribute it to the whole whole instead of just the Americans is good for the whole world.
If you cannot see that ever happening, then you cannot hope for the American President to act for the world at the expense of America, or even act in the interest of America without affecting the rest of the world negatively.
Zimbabwe can print money all it wants and nobody will care and it does not affect the rest of the world. This is not true of the US dollar.
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Video of plane crash this morning in Japan!!!!! Turned turtle and burst into a huge ball of fire!!!!
http://www.postchronicle.com/news/breakingnews/article_212217074.shtml
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a little known data about the US market is : the average entry price for all the baby boomers' retirement funds is around 500 points of S&P 500 index.
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Oh No!! US government reaches its "bankruptcy" limit and need help from private investors. No good, no good !!
In an interview Sunday with The Wall Street Journal, Geithner justified the Public Private Investment Program he will unveil Monday to entice hedge funds and other private investors into investing in bad assets choking banks' balance sheets.
"Our judgment is that the best way to get through this is if we can work with the markets," Geithner said.
"We don't want the government to assume all the risk. We want the private sector to work with us," he added.