Watching the death of the US Dollar »
Posted by: populist 4 months, 1 week ago29 CommentsReflectReport this Story
Thanks 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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Comments So Far: 29
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HomerJS49
March 15, 2008, 1:37 p.m.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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tchef
March 15, 2008, 9:38 p.m.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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wildman6557
March 15, 2008, 8:26 p.m.There is no free lunch. If we are producing a lot less than we are consuming (i.e. have a trade deficit), then we are going to have trouble -- if not now then later.
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HomerJS49
March 15, 2008, 10:11 p.m.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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blowback
March 16, 2008, 1:18 a.m.> 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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bonaroo
March 15, 2008, 9:21 p.m.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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earthlingerer
March 15, 2008, 9:28 p.m.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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eugenegerard
March 15, 2008, 9:40 p.m.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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wildman6557
March 15, 2008, 9:44 p.m.I doubt it. Bush and his ink don't want the Chinese in command. They are just stupid. I have had the chance to work with wealthy people. They are just as stupid as you and I, only more lucky. Well, their luck has just run out....
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HomerJS49
March 15, 2008, 10:21 p.m."...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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foksipayne
March 18, 2008, 4:02 a.m.and someone thought I was an alarmist on the global warming thread!
good post!!!
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Dragonflower
March 15, 2008, 9:55 p.m.I always love sayin this: "It's the corruption, stupid!" to both the communism & the capitalists.
Even tho the capitalists will have lost their gamble on global (haha) economy, it's all the little people who'll have to pick up the pieces.
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foksipayne
March 18, 2008, 4:03 a.m."it's all the little people who'll have to pick up the pieces."
May we carry them well!
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