Former Super Power

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    29 Responses to Former Super Power

    1. Quit whining. Europe is doing worse than America right now.

      Alarmist bullshit is alarmist bullshit.

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    2. How is Europe doing worse than America?
      And even if it was, your problems don’t become less
      relevant just because somebody else has bigger ones.

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    3. @dieAntagonista: YES- exactly..P.S. my stock in canada is doing great.

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    4. Europe is doing worse because their currencies have dropped more and investor confidence is lower than it is with America.

      In the see saw arena of currency trading and economic stability it is actually the case of other people’s larger problems making yours smaller.

      Canada will do great post next election when our conservative majority really shows its balls.

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    5. another successful troll brought to you by magnus

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    6. @mAgnUS BUTTfoorson: Quit being a fuckshit, there are countries whose inflation is at 100000%. Ooooo, America is going through a depression, Europes doing a little worse, OH NO! There are countries doing a hundred times worse. So shut up and feel sorry for America because they are going through a hard spot and whether or not it is the worst is irrelevant. Bitch.

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    7. America is not going through a depression. America is having a little bit of economic trouble right now, but thanks to the media instilling panic into people it’s doing even worse than it should be.

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    8. sensationalist america-centric one sided media FTW.

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    9. Well, if we’re going to be talking basic economics, I might as well add:
      I’ve never really understood why all the hullabaloo about fluctuation of currency value – be it inflation or deflation. Provided you have a solid production/manufacturing infrastructure (which the U.S. does), devaluation of currency improves export/import balance. This is why the CCP has been trying so hard for so long to keep the yuan artificially low. A low yuan value sure as hell hasn’t hurt China.
      As far as I’m aware, it’s a cyclical pendulum with no real proper fixation in the first place. The import/export balance will adjust, and so will the faith in keeping a certain currency as a stable asset. High and low currency value each has its own benefits and restrictions.
      So, yeah.

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    10. Wait, what?

      Magnus is not only a right-wing troll, he’s a CONSERVATIVE CANADIAN?

      That’s a level of fail I hadn’t conceived of until just now.

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    11. Are you people retarded?

      Sorry to piss on your pity party but just because you can’t roll on 22’s anymore doesn’t mean you’re in a fucking depression.

      @Tardex:

      Try keeping current on the situation since the European slide happened mostly today.
      @MikeBabaguh:
      Our government is conservative you retard. The one that was elected and will be reelected. The new level is fail is apparently you.

      To all: I wasn’t trolling I was doing the opposite and trying to provide a positive side to things for you.

      Back to your crying like little girls now you fucking morons.

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    12. @Yawn: Well, one reason to worry is the Great Depression, which was largely cause by deflation: There was a pretty open market back then and it never returned to equilibrium.

      Of course inflation killed ancient Rome, and Ming Dynasty China, leading to 200-some years of foreign rule.

      We don’t know the actual value of currency because the value of individual commodities (including services, which are generally traded domestically: import/export isn’t everything you know) is always uncertain. There’s no divine measure telling you what people want to purchase and how much they’re willing to purchase if for. Further more, it goes beyond basic supply/demand because middlemen and investors will intentionally tamper with prices for reasons that are independent of the demands of the markets.

      The low Yuan was entirely different. They were pegging the Yuan to the American Dollar because the American dollar was incredibly stable. China was risking severe devaluation of their currency, so pegged currency + a sudden burst of heavy exports was the perfect strategy to build their economy. Understand that China was moving from 0 industrial base and minimal infrastructure to modern in the course of 30 years. It’s OK for them to have a low-value currency because they still have a lot of room to grow economically.

      However, that isn’t a viable solution for America, because 1) Who would America peg their currency to? They are on top. 2) Everyone in the world depends on America being a strong currency, and it would piss a lot of people off if they devalued their currency intentionally. 3) Americans are used to being rich. Chinese are used to famine and subsistence living. The Chinese are still impressed by being able to afford washing machines. China’s economy is growing fast but they still don’t have nearly the same standard of life as Americans expect.

      So, in conclusion, prices are so frequently in flux worldwide that any trend that goes too strongly against the equilibrium could potentially spiral out of control. Does that help?

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    13. Also, Americans are net importers. Chinese are Net Exporters. Ask yourself why a net exporter might want a devalued currency. To sell mass produced products at low prices, obviously.

      The US is a post-industrial service economy. Depending to heavy exports would be a step back, both on paper and in terms of the standard of living available for Americans.

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    14. people in HK have a higher standard of living than in the US.

      Within a communist country is the purest capitalist system on the planet.

      China purposefully has not corrected its currency value. Doing so would invalidate their position as cheap labour force and kill their growth.

      HK makes use of mainland China to profit by keeping the majority of the population in poverty by way of a strict and cruel government. My brother lives in China across from HK and the difference is sickening. One side fights for his garbage while the other has to spend a few seconds every morning figuring out which Ferrari to drive that day.

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    15. @Caio: Fair points, though America could, minus the ego, peg the dollar to a more insulated currency. Granted, these days everything’s exceptionally volatile, but perhaps after a while the yen may prove most stable. The Euro’s looking iffy, though it might still end up stronger than the dollar.

      Anyways, even your post kind of reflects the ambiguity of aspired currency value. If the Great Depression was caused by deflation, and if people around the globe would be pissed off at the US intentionally facilitating inflation, then it’s sort of like looking at two half-full glasses as half-empty, or something to that effect. o.O

      Anyways, the point is that the US-centric status quo isn’t the only formula for a stable world economy. And Americans don’t even have to lose out if our currency is either weaker or not used as an international medium of cash asset – after all, the countries with the highest standards of living are all in Europe.

      As for the fact that the US is primarily an import nation, well, my point is that we ought *not* to be. That’s part of the reason of why we have such a massive federal deficit. China now owns more of the U.S. than the U.S. does. -_-

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    16. Fair points as well: I was really giving a status quo answer :\

      I would really like to see a more balanced world economy. It’s not necessarily that I don’t want America to be successful, but it would be nice if there were a wider range of stable currencies. Hell, I’d also like to see a world where every country including the US has a balance between industry/agriculture/service+finance. Feels safer.

      The problem is, I can’t really image what kind of world would it be like. USD, EOI and a service-based developed economies have been headcornerstones since before I was born. I’m just not used to thinking any other way.

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    17. Yep, same here. Regardless of what happens, it’ll at least be *interesting* to see, if not a little disheartening, if China’s current dichotomy of economic momentum and financial insulation from the current crisis leads to it supplanting America’s current role, and, on a wider scale, whether the East truly will take over from the West, as far as economic muscle is concerned. Still got a couple decades before that question is answered, though.

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    18. Well, thankfully we have guys like Magnus, Caio, yawn, and I…who actually know what the fuck we’re talking about. Currently, the U.S. is in a recession; and like previously said it had an impact on the rest of the world. I’m thinking that it’s China’s time to rise as America’s “replacement”.

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    19. Ha ha, you guys are arguing about things you know nothing about.

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    20. I am?

      Then how did I make so much money this past week when you lost your house?

      haha turns out I do know.

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    21. @Tardex: Serves the US right to overspend past their means. Their currency has devaluated/in the process because the Fed keeps printing more currency to pay for all the expenses (creating moeny out of thin air). This creates inflation , which is a tax. Means that for every item that you want to buy, it will take more of your money to buy it.

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    22. The Euro is still worth 1.3 something dollars.

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    23. Just thought I’d, y’know, put that out there.

      We may have been hit harder, but we fell from way above you guys.

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    24. Plus, we’re actually doing something about it.

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    25. @mAgnUS BUTTfoorson:

      I may be a little late on this but! What the hell Magnus? Just because the Europe situation happened a day ago doesn’t change anything. Im not entirely sure what you were trying to get at, but it made no sense, and I just thought you should know. Other countries are still doing far worse, its still the same situation.

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    26. No it isn’t.

      Lending institutions in Europe have refused to slash interest rates. It’s making the situation progressively worse.

      America is doing its best to correct things. Likely outcome is it will. Europe for some stupid reason is riding this shit into the ground. Australia handled it best so far.

      Please at least know a little bit about this stuff before sounding off and throwing out names at people. Unless you were trying to look like a complete asshole in which case mission accomplished.

      btw: when this shit happens sell your gold. Not right away. Do it after everyone pours their cash into it cause its stable and the price spikes.

      Reply

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