Watching the death of the US Dollar »
Posted By populist 7 months ago in Business & FinanceThanks to China, so far Americans have been sheltered from the greatest effects of the dollar s declining value. Our greatest trade deficit is with China. The prices of the goods from China have not risen, because China keeps its currency pegged to the dollar. As the dollar goes down, China s currency goes with it, thus holding down price rises.
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HomerJS497 months ago
Like it or not Capitalism is on it's death bed being crushed under it's own weight. Whether you like or dislike Communism as we knew it Karl Marx was correct. Capitalism requires ever increasing profits. In a world economy such as we now have we are running out of labor and markets to exploit in the name of profit. Hitting the wall is inevitable.
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HomerJS497 months ago
In case you missed it the Chinese are one of the last cheap labor markets. They're on the 'being exploited' end. Now that our last great job market 'service' are all going offshore what are we going to do for work here? Sell each other Big Macs and Whoppers? Then when nobody has any money who'll buy all those goods to keep the economy moving?
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tchef7 months ago
The problem with pure capitalism is greed. The problem with pure communism is lack of motivation. You need to have a system with the balance of both to work.
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HomerJS497 months ago
Agree Chef...
Adin Ballou (1803-1890), the founder of the Hopedale utopian community, was a leading pacifist, socialist, and abolitionist. Unlike many other reformers of his time Ballou did not abandon his pacifist principles during the Civil War. The Hopedale Community (1841-1856) was based upon pacifism and "Practical Christian Socialism," a form of socialism that, unlike Marxism, included private property and the profit motive. In later life Ballou trusted that his ideas would be taken up again, perhaps a century or more in the future. Perhaps the time is approaching when we will be ready to consider again Ballou's ideas on how we can live together, in loving peace and cooperation.
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blowback7 months ago
> The problem with pure capitalism is greed. The problem with pure communism is lack of motivation. You need to have a system with the balance of both to work.
Agreed.
They need not be mutually exclusive.
Political ideology and nationalistic
xenophobia in the competition for world
supremacy made it that way.
Capitalism fuels an economy.
Communism maintains a society's civility,
order and compassion.
populist, thank you for the article.
Paul Craig Roberts is always in step with
the truth.
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bonaroo7 months ago
We are in new territory in regards to the U.S. economy. Mechanisms are in play that have Never been tried before in our history. The value of the dollar will certainly fall further due to the feds impending overnight rate cut. Israel's central bank bought 100 million dollars on Friday, but many countries are balking at the potential downside risk. The 610 trillion dollar derivative market is the next in line for downside adjustment. This is usually the point where US monetary trust comes into play, but we all know that our credibility has suffered.
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earthlingerer7 months ago
Remember when the Euro was worth less than a dollar?
Remember when "they" said that the Euro could NEVER go past $1.40???
Remember when war boosted the economy?
Yep, all those days are gone...
MISSION ACCOMPLISHED!!!
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eugenegerard7 months ago
Don't ever think that this wasn't planned. This will destroy the middle class in this country. The powers that be, plan on introducing draconian remedies that will keep this country in their pocket and control.They wish to introduce A NEW WORLDS ORDER. Your wealth and well being is at odds with their plans. When the dollar collapses and the remedy becomes the Amero you'll know the noose is about to be pulled.
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foksipayne7 months ago
whaddaya mean. China is already headed toward control, with how much we owe them. Big biz is going there so they won't be in trouble when china comes to collect on the debt.
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HomerJS497 months ago
"...and their swords will be turned into plowshares." Sorry, but unconditional love is gonna be the order of the day this time.
Here's one the righty evangelicals missed:
"Fallen, fallen is Babylon the Great"
"And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more:" Revelation 18:11
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HomerJS497 months ago
Oh, wait didn't it just happen back in 1929? Didn't FDR a rich man himself whom his 'fellow rich' said betrayed them put into place some mechanisms to prevent this from happening again? Didn't the Conservatives just spend the last 20 years undoing all those mechanisms? Didn't this current administration just spend the last 7 or so getting rid of the last bits of Democracy that were keeping the final mechanisms in check? Didn't Adam Smith the Scottish economist say in "The Wealth of Nations" that Democracy and Capitalism must be intertwined to keep each other in check?....Just wondering....
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