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Thread: US economic power

  1. #81
    Council Member slapout9's Avatar
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    Dec 2005


    Shek, that should be SWC video of the week

  2. #82
    Council Member
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    May 2006
    Just outside the Beltway


    Quote Originally Posted by slapout9 View Post
    Shek, that should be SWC video of the week
    I figured you'd like the video. Sadly, since I don't get HBO, I haven't watched The Wire and so that was just a lucky find.

  3. #83
    Council Member
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    Oct 2007


    I'm considering selling my crystal ball on eBay.

    Quote Originally Posted by Schmedlap on July 30, 2008 View Post
    If you owe the bank $100, then that is your problem. If you owe the bank $100 million, then that is the bank's problem. We owe trillions of dollars to the world. If something happens that makes us unable to make timely payments on that debt, then it will become the world's problem.
    The U.S. sought to ease Chinese Premier Wen Jiabao's concern about the security of his country’s investments in U.S. government debt... China should seek to “fend off risks” as it diversifies its $1.95 trillion in foreign-exchange reserves, Wen said... the nation should seek guarantees that its Treasury holdings won’t be eroded by “reckless policies” ... “China won’t sell the U.S. debt now as that will only drive down Treasury prices, hurting not only the U.S. but also the value of its own investments,” said Shen Jianguang, a Hong Kong-based economist at China International Capital Corp., an investment bank partly owned by Morgan Stanley.
    - via Bloomberg

    Quote Originally Posted by Schmedlap on July 30, 2008 View Post
    The US is a large importing country for many goods. If we no longer purchase those goods, then it creates surplus supply in the exporting country, prices plummet, profits plummet, and the incentive to continue producing plummets. So, no, those countries would not consume their own goods. They would respond by dramatically scaling back production in the short term and closing down businesses over the long term.
    The global financial crisis has finally and dramatically caught up with China... Exports in February slid by 25.7 per cent from a year earlier... imports dropped 24.1 per cent... The fallout may be felt across the Chinese economy, with the possibility of acceleration in the increase in unemployment and yet more slowing of consumption, despite a $600 billion stimulus package that the Government hopes will cushion the blow... Communist leaders worry that more job losses could spark unrest and are promising to spend heavily to create employment... Isaac Meng, an economist with BNP Paribas in Beijing, said ...“... It will have a pretty big impact on Chinese domestic demand. Probably 60 million to 70 million workers directly work in these export sectors, so there will be secondary impacts on capital expenditure, employment and consumption.”
    - via UK Times
    “I don’t think that in the short term domestic consumption can make up for the loss of exports,” says Xiang Songzuo, an independent economist. “Exports have fallen quickly and consumption will grow more slowly”...
    There are some signs that increased consumption might cushion the blow, however...
    “It won’t be possible to make up for all our international losses, but we can compensate a little” through domestic sales, Ms. Qian says...The Beijing Department of Commerce arranged the same sort of meetings for Liu with retailers in the capital as it has done for all the companies at the fair. Three stores have expressed interest in his goods, he says, and “if things go well I think I can make up my losses.
    “Still,” he adds wistfully, “I am looking forward to an economic recovery in the US.”
    - via CS Monitor
    Last edited by Schmedlap; 03-14-2009 at 05:43 PM.

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