America in decline???

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Troglodyte
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America in decline???

Postby Troglodyte » Sat Oct 13, 2012 9:18 am

New monetary system on horizon
Published: Bangkok Post 13/10/2012 at 07:28 PM Online news: Economics
http://www.bangkokpost.com/business/eco ... d-currency

The end of the US dollar's dominance is inevitable and the new international monetary order will be based on more than one key reserve currency, experts say.
The Chinese renminbi in particular seems critical in this change.

There are bold predictions that by 2040, the Chinese currency would account for 32% of the key reserve currencies, akin to the US dollar and the euro.


IMF urges quick, effective moves to buoy growth
By ELAINE KURTENBACH, AP Business Writer
Published OC Register Oct. 13, 2012 4:31 AM ET
http://hosted2.ap.org/CAANR/162267dc068 ... 89e226368a

TOKYO (AP) — Global financial ministers called Saturday for quick and effective action to safeguard faltering economic growth and rebuild shaken confidence as they ended an annual meeting of the International Monetary Fund.
Last edited by John Q. Public on Sat Oct 13, 2012 9:37 am, edited 2 times in total.
Reason: WTF?


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Re: America in decline???

Postby John Q. Public » Sat Oct 13, 2012 9:38 am

[mod="John Q. Public"]Trog, did you even look at what you posted?[/mod]
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Troglodyte
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Re: America in decline???

Postby Troglodyte » Sat Oct 13, 2012 6:08 pm

John Q. Public wrote: Trog, did you even look at what you posted?

Did you?? Or is this another knee jerk reaction. Most of the rest of the world are blaming the US for their current recession. They are distancing themselves as much as possible from the US's economy. Real sweat is breaking out over our endless deficit and debt situation, and the squabbling on the hill about what we're gonna do about it. Whether you want to believe it, or not, they see only two outcomes. Massive inflation of the US dollar, or us going Greek, if we don't take positive action right now. They are probably betting that if Obama gets a second term he will be business as usual, more deficits and more squabbling. They probably don't have too much confidence that Romney can pull us out either. The debt is too massive, and the government is too polarized.
China is sitting there smirking like Biden and licking their chops, waiting to step in and become the next world economic super power.. .
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Re: America in decline???

Postby tLIB » Sun Oct 14, 2012 3:33 am

Trog, I am not sure how far out they are talking about a decline. I don't see it happening in the next 10 years, but our war spending, deficit spending, and poor education could sink us, IMO.

The first author said the Chinese currency will become the standard. After the recent sovereign debt fiasco, I would be surprised it was the euro.

Rome fell. Few people at that time expected it. I think the U.S. will decline - but we might come back in 100 years. :oops: We burned through our oil. We have some natural gas. We have coal. I doubt we will see any problems for at least 10 years - unless we export those resources too fast.

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Re: America in decline???

Postby Wabash » Sun Oct 14, 2012 8:34 am

So much for the sunny optimism that once typified the American conservative movement during the Reagan years.

Now it is all doom and gloom and afraid of everything.
Last edited by Wabash on Sun Oct 14, 2012 9:12 am, edited 1 time in total.
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Re: America in decline???

Postby Parrotpaul » Sun Oct 14, 2012 9:09 am

I'm concerned the present crowd of conservatives is out their thrashing themselves with reeds....what a sorry-ass bunch. Cash is king as long as the GOP has a chance of winning.

You want a history of American decline....review the Republican Party from the post-Eisenhower GOP era to the present. Quoting the crimson terror...."sad."
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

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Re: America in decline???

Postby Troglodyte » Sun Oct 14, 2012 9:22 am

Parrotpaul wrote:I'm concerned the present crowd of conservatives is out their thrashing themselves with reeds....what a sorry-ass bunch. Cash is king as long as the GOP has a chance of winning.

You want a history of American decline....review the Republican Party from the post-Eisenhower GOP era to the present. Quoting the crimson terror...."sad."

Cash might be king, but who's cash?? Asia today, the world tomorrow?

Yuan alternative backed
EXPERTS SAY ASIA SUFFERS FROM LACK OF COMMON CURRENCY
Published: Bangkok Post 14/10/2012 at 09:02 PM Newspaper section: News
http://www.bangkokpost.com/business/eco ... ive-backed

The rising role of Asia in the world economy and the failure of the existing international monetary system to set proper values for currencies has underlined the importance of a new international currency.

But while participants at a roundtable discussion yesterday hosted by the Asia-Europe Foundation agreed that the Chinese yuan was the best alternative to counterbalance the current dominance of the US dollar, the likelihood of it being adopted internationally is remote.

Paola Subacchi, research director for international economics at Chatham House, said without a better alternative, Asian economies would continue to buy US government assets with their foreign reserves built up by capital inflows, thereby continuing to finance the US deficit and feeding the circle.

"A well-functioning international monetary system should allow an adjustment between countries with surpluses and deficits in its balance of payments," she said.

Holders of the dollar assets are now concerned that their assets risk losing value because of the dollar's depreciation. The People's Bank of China proposed the idea of the new international system in 2009, Mrs Subacchi said.
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Re: America in decline???

Postby Wabash » Sun Oct 14, 2012 9:24 am

Parrotpaul wrote:I'm concerned the present crowd of conservatives is out their thrashing themselves with reeds....what a sorry-ass bunch. Cash is king as long as the GOP has a chance of winning.

You want a history of American decline....review the Republican Party from the post-Eisenhower GOP era to the present. Quoting the crimson terror...."sad."

:yeahthat:

When your ideas violate basic math and historical fact, fear is what is left.
They told me if I voted for Hillary Clinton the president would be emotional, impulsive, and unpredictable. They were right. I voted for Hillary Clinton and got a president that is emotional, impulsive, and unpredictable.

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Re: America in decline???

Postby Parrotpaul » Sun Oct 14, 2012 9:24 am

I'm pretty happy they are all US of A dollars, thanks....greenbacks make me smile. They make me happy. I'm a capitalist from the word go. We've been doing quite well, in case you hadn't noticed over the past 3 1/2 years. Like Kramer, did you also miss the ride?
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

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tLIB
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Re: America in decline???

Postby tLIB » Sun Oct 14, 2012 1:32 pm

EXPERTS SAY ASIA SUFFERS FROM LACK OF COMMON CURRENCY


Hopefully they learned from the euro.

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Re: America in decline???

Postby Troglodyte » Fri Oct 26, 2012 9:54 am

Stocks fall on fears of US weakness
Published: Bangkok Post 26/10/2012 at 05:53 PM Online news: News
http://www.bangkokpost.com/business/new ... s-weakness

Stocks declined and commodities dropped to three-month lows as big companies worldwide continued to post poor results amid concern that US economic growth is stalling again.

The US Commerce Department announced that third-quarter gross domestic product expanded by 2.0% from a year ago, better than forecasts for 1.8% growth and up from 1.3% in the second quarter. However, economists believe the fourth quarter will be weaker.

As well, some investors are already moving to the sidelines until they see the outcome of the US election on Nov 6.

Poor results from Amazon and Apple, two belwethers of US consumer spending, also have disappointed investors.


Investors walk past a trading display at a brokerage in Bangkok, where the SET Index fell 1.2% on Friday. (AFP photo)
SET president Charamporn Jotikasthira said the equity market remained highly volatile as the global economic slowdown still has no definitive solution.

Kongkiat Opaswongkarn, the CEO of Asia Plus Securities, said investment in the stock market would likely slow down ahead of the US election.

If Republican Mitt Romney is elected, he said, investors might be concerned about US policy changes. Mr Romney vows to create new jobs for Americans and might take a harder line on China to do so. A decline in China-US trade would hurt other countries in Asia.

Foreign investors have been net sellers of Thai shares for most of the week, including 1.14 billion baht on Friday, as they expect US third-quarter economic performance to be weak, which would affect equities worldwide.

"Investors have priced in the real fundamentals of companies in the US market, and the good sentiment brought about by [the Federal Reserve's] QE3 will depart if it cannot help the economy recover," Mr Sukit said.

Meanwhile, financial results from some of the world's biggest companies remain disappointing.

Ericsson, the world's largest maker of mobile-phone networks, posted a 43% decline in third-quarter profit. Amazon, the biggest online retailer, had its first quarterly net loss since 2003.

Oil prices fell 0.7% to $85.43 a barrel for benchmark West Texas Intermediate crude in New York, further reflecting economic weakness.

World markets fell ahead of the release of the US GDP data. Britain's FTSE 100 fell 0.5% to 5,774.36 in early trade on Friday. Germany's DAX lost 0.5% to 7,163.75. France's CAC-40 shed 0.7% to 3,388.73.

Wall Street was also headed for a fall. Dow Jones industrial futures fell 0.8% to 12,955 and S&P 500 futures lost 0.7% to 1,397.50.

Asian stocks posted losses earlier in the day after data on US housing dimmed hopes of improvement in an industry that is crucial to the country's recovery.

Japan's Nikkei 225 index slid 1.4% to close at 8,933.06. South Korea's Kospi tumbled 1.7% to 1,891.43. Hong Kong's Hang Seng shed 1.2% to 21,545.57. Australia's S&P/ASX 200 lost 0.8% to 4,472.40. The Shanghai Composite Index sank 1.7% to 2,066.21 and the Shenzhen Composite Index shed 2% to 840.51.

The Bank of Thailand has cut its growth forecast for next year as a weakening global economy depresses exports and hampers a recovery from last year's floods.

The central bank lowered its estimate for GDP growth for 2013 to 4.6% from 5%, while maintaining its prediction for this year at 5.7%.
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tLIB
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Re: America in decline???

Postby tLIB » Fri Oct 26, 2012 6:10 pm

Wabash wrote:So much for the sunny optimism that once typified the American conservative movement during the Reagan years.

Now it is all doom and gloom and afraid of everything.


There is money to be made is selling gold. I wonder if Glen Beck will continue with his doom and gloom if Romney is elected. Some of his major advertisers is gold suppliers.

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