Think, people think. How can the USA go down when they can just print money and the whole world cannot do much (as good as nothing) about it????!!!!
They do not just print, the money they print, the US dollars they print, they can use it anywhere in the world.
Just look at Zimbabwe. They print and print and so what? Their economy continued to go downhill. Only when the Zimbabwean government allowed people to use the US Dollars freely in the country to buy groceries did the economy start to recover.
Originally posted by AndrewPKYap:
Think, people think. How can the USA go down when they can just print money and the whole world cannot do much (as good as nothing) about it????!!!!
They do not just print, the money they print, the US dollars they print, they can use it anywhere in the world.
Just look at Zimbabwe. They print and print and so what? Their economy continued to go downhill. Only when the Zimbabwean government allowed people to use the US Dollars freely in the country to buy groceries did the economy start to recover.
Hello? If you dont know anything in economics, then you'd better keep yourself away from the printing money thing, ok?
The money market would not allow US (basically any country) to do that, if more money comes up, the money will be cheaper, regardless your money is worldwide or not...
Just go and study how US$ and Euro work, ok? Come on nah...
by F. William Engdahl
Increasingly a deep divide within the world of globalization is emerging which will have the most profound significance for the future of G7 nations’ economic and political stability.
The divide is between those nations which are still embedded within the dollar system, including countries in the Eurozone, versus those emerging economies—especially the BRIC—Brazil, Russia, India, China—where new economic markets and regions are rapidly replacing their over-dependence on the United States as prime export market and prime source for investment finance. The long-term consequences will be an aggravation of the trend of the United States as a political and economic superpower in terminal decline, while dynamic new economic zones, initially mainly of regional importance, will arise.
The one great asset which nations like China, Indonesia, India and Brazil bring to the emerging divide is the one greatest long-term economic deficit or liability of the older industrialized world, USA, UK, Germany and the EU generally. That is their demographic advantage.
With the exception of Russia, all the growth economies possess young, dynamic and growing populations. Interesting to recall is that the hidden story of the pre-1914 German ‘economic miracle’ was based on a similar ‘secret’—rapid and dynamic young and growing population, while that of Great Britain and France was stagnant or in decline after the British Great Depression of 1873 which led to huge emigration of population to the USA.
It’s no accident that the leading political elites of the G7 argue that the greatest threat globally is the rapid birth rate in developing countries. Translated from their euphemism, they really mean the greatest threat to their continued dominance of world affairs is population expansion in emerging economies, as new contenders inevitably rise.
New growth regions emerging
Almost naturally in the past eighteen months, once the initial shock of the worst financial and economic shock since the 1930’s began to subside, China and its immediate trading partners along with the other high-growth emerging economies, began looking for new alternatives to the dying dollar system.
The present crisis is no short-term epiphenomenon as Ben Bernanke, Treasury Secretary Tim Geithner or Barack Obama would wish us to believe. It is the reflection of more than 65 years of defective US economic policy, a defect which reached epidemic proportions after the decision to abandon the gold exchange standard in 1971. Let’s be clear , that gold standard as well as its predecessors was no magic economic panacea. But the break by Nixon in August 1971 allowed Washington to embark on a de facto financial imperialist policy which ruined much of the world economy in its ravages of the past thirty eight years.
Today the contrast between declining G7 economies and emerging dynamic high-population growth economies could not be clearer. The G7 nations from USA to Germany to Italy are choking in public debt, ranging from 80% of GDP in the United States to well over 100% in Italy and a staggering 199% in Japan. Only Zimbabwe with 218% debt to GDP tops that. Germany has a ratio of 77%.
By contrast, of the emerging dynamic high-growth countries, only India has significant public debt, a legacy of the British colonial era, of 58% GDP. Brazil, despite a severe debt crisis in the 1980’s, today has a public debt to GDP level of a very manageable 45%, while Indonesia, one of the fast-growing newly emerging economies, has 34%.
South Korea with a high domestic savings culture has a mere 28% debt ratio and China a mere 18% debt to GDP level. Russia, which used the recent boom in oil and gas revenues to pay down its foreign and IMF debts, while the country has severe demographic problems, has a public debt to GDP as of 2008 data of 6%. It has also slowly rebuilt foreign exchange reserves after the crisis last year to a level of $404 billion this month, making its reserves the third largest in the world.
So, with the economies of the USA and EU caught in the jaws of a twin scissors-like crises between growing public debt and declining population growth rates to service that debt long-term, the emerging economies of Asia and Eurasia as well as Brazil in South America are booming, precisely because they enjoy the twin assets of low public debt to GDP ratios combined with dynamic growing populations.
In China, India, Indonesia, Brazil economic growth continues to advance significantly. Governments are not buried under a mountain of debt and citizens remain optimistic about their future. This divergence, between the once rich and the once poor, will mark a geopolitical shift in the pivot of world history when viewed retrospectively by future economic historians.
Caught in the blades of a twin crisis
The most notable aspect of the crisis is the thorough discrediting of western academic economists, including every single winner of the Economics Nobel Prize. Their grandiose theories justifying their laissez faire ‘free market’ economic model of globalization has been proven fatally wrong, in effect a transparent promotion gimmick to justify the process of one-sided globalization, little more. They have been exposed, to use the terms of one of my favourite children’s stories by the Danish writer H.C. Andersen, like the Emperor with no clothes.
The dollar system their world had been based on since Bretton Woods in 1944, is undergoing a death agony. Every measure advocated to date by two US Administrations—Bush and now Obama—as well as the other G7 governments has amounted to giving heavy and even heavier doses of financial chemotherapy to a dying patient. The ever higher doses of taxpayer bailout to maintain a failed financial and banking model on artificial life support is merely worsening the underlying health of the US economy.
The record US financial bailouts since September 2008, a span of a mere ten months, have brought the US Federal debt from some 60% to a whopping 80% of GDP. Private US household debt is now above a record 100% of GDP, significantly worse than in the bad recession year 1974 when it was a mere 40%.
More alarming, for any prospect of growing out of the US economic downturn, the long-awaited phenomenon of demographics has slowly begun to impact. In the coming 1-3 years the impact of Baby Boom generation retirees in record numbers will hit.
They will be forced to draw down their public Social Security retirement from the Government as well as selling their private 401k and similar stock and bond investments in order to live in retirement. In economic terms they will become a net drain on the US pubic finances whereas rising unemployment among younger workers whose taxed earnings are needed to pay into the Social Security fund, will aggravate the US public debt level rapidly to Italy or even Japan or Zimbabwe levels in coming years. Unemployed workers do not pay taxes. They draw on state benefits instead.
In April, India's car sales were 4.2 percent higher than they were a year prior. Retail sales rose 15 percent in China in the first quarter of 2009. China is likely to grow at 7 or 8 percent this year, India at 6 percent and Indonesia at 4 percent.
By contrast, even using badly flawed official data, the US economy contracted at an annual rate of 6.1 percent last quarter, Europe by 9.6 percent and Japan by a frightening 15 percent, something that rivals the 1930s.
In the West, plus G7 member Japan, banks are overleveraged and thus dysfunctional, governments paralyzed with debt, and consumers are rebuilding their huge debt burdens. America is having trouble selling its public debt at attractive prices. The last three Treasury auctions have gone badly. Its largest state, California, is veering toward total fiscal collapse. The current fiscal year US budget deficit is going to surpass 13 percent of GDP, a level last seen during World War II.
By contrast emerging-market banks are largely healthy and profitable. Every Indian bank, government and private, posted profits in the last quarter of 2008. The governments are in good fiscal shape. China has the world’s largest foreign currency reserves, $2 trillion in reserves, and a budget deficit less than 3 percent of GDP. Brazil is now posting a current account surplus. Indonesia has reduced its debt from 100 percent of GDP nine years ago to 34 percent today.
Unlike in the West - where governments have run out of money or creative new ideas and are now praying that their medicine will work - these countries still have options. Only a year ago, their chief concern was an overheated economy and inflation. Brazil has cut its interest rate substantially, but only to 10.25 percent, which means it can drop it further if things deteriorate even more.
The mood in many of these countries remains surprisingly upbeat. Their currencies are appreciating against the dollar because the markets see them as having better fiscal discipline as well as better long-term growth prospects than the United States. Their bonds are rising. This combination of indicators, all pointing in the same direction, is unprecedented.
The United States remains the richest and most powerful country in the world. Its military spans the globe. Even if its leaders prefer not to call it such it represents the most powerful informal empire in history to date.
But just as previous global hegemons went into irreversible decline--the Spanish Empire of the 16th century to the British Empire in the 20th century--great global powers sink into terminal decline once they become overburdened with debt and stuck in slow growth.
F. William Engdahl, author of Full Spectrum Dominance: Totalitarian Democracy in the New World Order (Third Millennium Press), may be reached via his website, www.engdahl.oilgeopolitics.net.
http://www.globalresearch.ca/index.php?context=va&aid=13926
NZZ: Mr. Todd, you write that America is economically, militarily, and ideologically too weak to actually control the world. This would gladden many anti-Americans. But how is this anything but the wishful thinking of an intellectual who is the product of the French US critical tradition?
ET: This is neither wishful thinking nor anti-Americanism. Why would I have been so prominently criticised by the left? The French career anti-American paper "Le Monde diplomatique", was the only major paper that remained conspicuously silent on my book. The over-estimation of America is fundamental to these people. It is on this topic that they agree with the American ultra-conservatives: the former to demonize, the latter to aggrandize.
You on the other hand can be accused of underestimating the United States.
Originally posted by Stevenson101:
Heh cutting funding to their military for one? They spend more on their military than the world combined.And if what i've been reading is accurate, the way the urban setting in America is designed forces one to use cars to get around.
But i guess the quickest solution now to cut down on domestic gas consumption is to impose a gas tax. Don't see how that's gonna happen though, i think Americans might really prefer to fight another war rather than give up on their cars.
Military Funding ? No way. Unlike Singapore.. there's no conscript system here in USA.
The military one of the largest employer of the US. With the technology they developed in military .. they actually advanced technology for the average citizens.
America is so big.. ofcors has to get around by car lah. Urban public transport is available but only in city area where population is dense.
Imposing a petroluem tax will speed up the alternative fuel development... but the gahmen must help push the changes lor.
The problem is .. big oil companies are a huge opponent to the switch. And because they are so rich and powerful.. they've already killed the electric car once.
Watch.. who killed the electric car.
America's current position is much thanks to Hitler lar. If not for WW2, the whole world and its european colonies wouldn't have been set back, leaving America a free run for the next half a century.
The US does not "only" have the printing US Dollars advantage. They have possibly the most innovative economy in the world. Their people are free and free people can come up with wonders. Unlike in countries run by despots, cornering resources (take as much money from the people as possible) for themselves and their cronies to gamble away.
When the BRIC countries Brazil, Russia, India, China start to lose their dependance on the USA, what that means is also that that US companies will be able to sell more to them.
No matter how you look at it, at the present, sure, it might change in the future, nobody can touch the US position.
This crisis was supposed to be the one that brings the USA to its knees but for the magnitude of the problems, the consequences were relatively mild and why is that? The US prints money and the rest of the world just watch in awe.
Originally posted by AndrewPKYap:
The US does not "only" have the printing US Dollars advantage. They have possibly the most innovative economy in the world. Their people are free and free people can come up with wonders. Unlike in countries run by despots, cornering resources (take as much money from the people as possible) for themselves and their cronies to gamble away.
When the BRIC countries Brazil, Russia, India, China start to lose their dependance on the USA, what that means is also that that US companies will be able to sell more to them.
No matter how you look at it, at the present, sure, it might change in the future, nobody can touch the US position.
This crisis was supposed to be the one that brings the USA to its knees but for the magnitude of the problems, the consequences were relatively mild and why is that? The US prints money and the rest of the world just watch in awe.
Why are you in so much agony over USA printing money?
They've always been using monetary policy wat.
Click read Monetary Policy.
Originally posted by jojobeach:Why are you in so much agony over USA printing money?
They've always been using monetary policy wat.
Click read Monetary Policy.
What agony? Who's in agony? I am a great fan of US of America with their political and general freedoms. They have great leaders that I admire compared to the cursed despot here persecuting opposition and activists and a gambling addict gambling with public money to boot.
It use to be that the USA "borrow" money from themselves to finance themselves (Monetary Policy). Recently, they have been doing "quantitative easing". Go and read up on "quantitative easing".
You are obviously a very confused person.
Originally posted by AndrewPKYap:
What agony? Who's in agony? I am a great fan of US of America with their political and general freedoms. They have great leaders that I admire compared to the cursed despot here persecuting opposition and activists and a gambling addict gambling with public money to boot.
It use to be that the USA "borrow" money from themselves to finance themselves (Monetary Policy). Recently, they have been doing "quantitative easing". Go and read up on "quantitative easing".
You are obviously a very confused person.
I don't deny I am very confused with where you stand Mr Yap. On the one hand.. you're cursin.. then you are admiring.. so ah.. I wonder.. are you unhappy or happy ? Very confsued....
Quantitative easing is still money supply manipulation wat.
Originally posted by jojobeach:I don't deny I am very confused with where you stand Mr Yap. On the one hand.. you're cursin.. then you are admiring.. so ah.. I wonder.. are you unhappy or happy ? Very confsued....
Quantitative easing is still money supply manipulation wat.
Your state of confusion is very serious.
You cannot even tell the difference between for example, lowering interest rates and printing money out of nowhere.
Originally posted by AndrewPKYap:Your state of confusion is very serious.
You cannot even tell the difference between for example, lowering interest rates and printing money out of nowhere.
Yah lah Mr Yap, I am still very young lady mah.. still learning....
So what's the difference ah ?
Originally posted by AndrewPKYap:
Okay.. like this article ?
Originally posted by jojobeach:Okay.. like this article ?
Read also:
http://seekingalpha.com/article/117814-how-the-u-s-government-is-footing-the-stimulus-bill
and
http://en.wikipedia.org/wiki/Balance_of_trade
Originally posted by AndrewPKYap:
That Seekingalpha article is old alredy.. now the US economy is recovering loh.....
Click read Recession is Easing latest news ok ?
Balance of trade?.. now why would US want a balance of trade ? With the current import of low cost foreign goods.. Americans are enjoying the uplift in the quality of life. This trade imbalance is something the average citizens don't give a hoot about.
The only common complain average Joe likes to bitch about is the stupid oil prices. And this will perhaps go away in 20 yrs.
Originally posted by jojobeach:Military Funding ? No way. Unlike Singapore.. there's no conscript system here in USA.
The military one of the largest employer of the US. With the technology they developed in military .. they actually advanced technology for the average citizens.
America is so big.. ofcors has to get around by car lah. Urban public transport is available but only in city area where population is dense.
Imposing a petroluem tax will speed up the alternative fuel development... but the gahmen must help push the changes lor.
The problem is .. big oil companies are a huge opponent to the switch. And because they are so rich and powerful.. they've already killed the electric car once.
Watch.. who killed the electric car.
What does NS have to do with reducing military spending? We're paid peanuts to do it anyway. Besides, i find it pretty decent in character building it's not like we're made to salute LKY's picture in the morning and said Heil Lee Kuan Yew before 5BX in the morning.
It's more representative of a problem if your military is the biggest employer no ? Considering that the military is at the same time the most useless contribution to society as well as its most dangerous asset. The more you spend on guns the more tempted you are to use it, especially when you've got the biggest one around.
Not talking about moving between cities. It's more of the way urban planning is done, i think the suburban culture along with the extensive infrastructure to support it (trash collection, electricity, water pipelines) is the most wasteful of all.
Meh, for a country that preaches so much about the free market it sure has problems obeying its own creed.
Originally posted by jojobeach:Military Funding ? No way. Unlike Singapore.. there's no conscript system here in USA.
The military one of the largest employer of the US. With the technology they developed in military .. they actually advanced technology for the average citizens.
America is so big.. ofcors has to get around by car lah. Urban public transport is available but only in city area where population is dense.
Imposing a petroluem tax will speed up the alternative fuel development... but the gahmen must help push the changes lor.
The problem is .. big oil companies are a huge opponent to the switch. And because they are so rich and powerful.. they've already killed the electric car once.
Watch.. who killed the electric car.
Its probably not a fair comparision on conscription system in SG with uncle sam lah.....huge population vs 3 million.
TO JOJO:
i think sporean males are forced to protect spore or its the slammer for them just like how a gang would want its gang members to protect one another.there is no volunteering in spore.
its u do it or we do u principle.sick of this kinda nonszense......i meet this type of principle too at werk n i can refuse to help or volunteer.but for spore army...they have strict laws n prison sentence even for not attending athlete remedial trainings despite finishing all your reservist trainings.
these are bulls n craps given to spore guys that a gal dont usually get to know.
Originally posted by TERMINATOR2000:TO JOJO:
i think sporean males are forced to protect spore or its the slammer for them just like how a gang would want its gang members to protect one another.there is no volunteering in spore.
its u do it or we do u principle.sick of this kinda nonszense......i meet this type of principle too at werk n i can refuse to help or volunteer.but for spore army...they have strict laws n prison sentence even for not attending athlete remedial trainings despite finishing all your reservist trainings.
these are bulls n craps given to spore guys that a gal dont usually get to know.
Who said you cannot request for another service like Police or SCDF?
Originally posted by Stevenson101:What does NS have to do with reducing military spending? We're paid peanuts to do it anyway. Besides, i find it pretty decent in character building it's not like we're made to salute LKY's picture in the morning and said Heil Lee Kuan Yew before 5BX in the morning.
It's more representative of a problem if your military is the biggest employer no ? Considering that the military is at the same time the most useless contribution to society as well as its most dangerous asset. The more you spend on guns the more tempted you are to use it, especially when you've got the biggest one around.
Not talking about moving between cities. It's more of the way urban planning is done, i think the suburban culture along with the extensive infrastructure to support it (trash collection, electricity, water pipelines) is the most wasteful of all.
Meh, for a country that preaches so much about the free market it sure has problems obeying its own creed.
Wat lah... even the volunteer reserve army also well taken care of hor.. that in turn also contribute to the economy what. You think like NS meh ....I think NS is exploitation.. also equivalent to labor reform camp.
aiyah.. you never been to suburb ah ? Suburb is not country side leh.. it's something like the landed residential area in Singapore ok.
In most states.. people rather go live in suburb than go squeeze together in densely populated area.
Originally posted by TERMINATOR2000:TO JOJO:
i think sporean males are forced to protect spore or its the slammer for them just like how a gang would want its gang members to protect one another.there is no volunteering in spore.
its u do it or we do u principle.sick of this kinda nonszense......i meet this type of principle too at werk n i can refuse to help or volunteer.but for spore army...they have strict laws n prison sentence even for not attending athlete remedial trainings despite finishing all your reservist trainings.
these are bulls n craps given to spore guys that a gal dont usually get to know.
Ofcors I understand mah.. I got guys friend also ok ?
I tell U lah.. Singaporean guys will always kenna bully one.
They at home kenna from parents.
Go NS kenna from officers.
Come out work kenna from FT boss and FW colleague.
Then go home kenna from foreign wife.
Children come out.. same same all over again...
Like that.. sibeh cham leh !!!
Originally posted by Arapahoe:Its probably not a fair comparision on conscription system in SG with uncle sam lah.....huge population vs 3 million.
What fair comparison. Singapore so tiny. NS dunno for what.
Waste money.. waste time.. waste our guys future away.
I say F NS !!!
Might as well save all the money and pay the regulars well.. those want to join the military will be well taken care of.. no need to come out of army to do Insurance agents !!!
Amercian is a power-ful country
When it sneeze , all the rest of the world kena
liao
So We are the tail , US is the head ya
I dream of staying in california
Reading list for people who supports end of USA global hegemony:
http://www.amazon.com/Limits-Power-American
http://www.amazon.com/Zionism-Militarism-Decline-
http://www.amazon.com/Decline-
http://www.amazon.com/Dark-Ages-America-Final-Empire/
http://www.amazon.com/After-Empire
http://www.amazon.com/Post-American-World
Originally posted by jojobeach:What fair comparison. Singapore so tiny. NS dunno for what.
Waste money.. waste time.. waste our guys future away.
I say F NS !!!
Might as well save all the money and pay the regulars well.. those want to join the military will be well taken care of.. no need to come out of army to do Insurance agents !!!
hello, sista, the purpose of NS is not to protect country, it is to change those Sg guy from gay to guy again, hoping that most will change to guy in 2 1/2 years time