Oil's energy contribution has declined by about 12% since 1999. The world's economies have also declined by about 12%. (Using conventional metrics, which are time delayed determinations, this will only be seen in hind sight). The massive destruction of asset values now occurring testifies to it happening.
Peak is well behind us, world economies have peaked and will continue to decline.
Joined: Dec 07, 2005 Posts: 2025 Location: Australia
Posted: Sun Sep 28, 2008 6:04 am Post subject: Re: China Will Pull the Dollar Plug
Nice one to dig up though. Still waiting for it to playout but I agree in years to come China and some other Asian countries will be the consumers and Western nations will have to tighten the belt and re-learn how to mend torn clothes. _________________ It's not a bailout, it's a buy-in" - Nancy Pelosi
Posted: Sun Sep 28, 2008 7:52 am Post subject: Re: China Will Pull the Dollar Plug
As the bailout scam nears completion, all one hears from the politicians is how the deadline for the approval of the plan is the opening of the Asian markets on Sunday.
Maybe that was the deadline set by the Chinese? Get your house in order before sundown Sunday or else.
Joined: Jun 26, 2007 Posts: 1640 Location: The Canada of America
Posted: Sun Sep 28, 2008 4:38 pm Post subject: Re: China Will Pull the Dollar Plug
allenwrench wrote:
Quote:
Be sure that US has the best scientist, engineers and most importantly enterpreneurs in the World because the best usually immigrates to USA.
I heard that we have to import a lot of our engineers as our students don't make the grade and there is s shortage?
I've been reading stuff for the past few years by Paul Craig Roberts that says just the opposite... the US is graduating lots of competent engineers and scientists every single year, but now so much of the work has been off-shored that the jobs don't exist in the United States. The people you're talking about the ones parachuted in to do work that literally couldn't be done by anyone but the person(s) in question. Western economies, particularly the US, are being hollowed out by off-shoring to places where wages are so much less than what we're used to. _________________ I can has cheezburger?
Posted: Sun Sep 28, 2008 9:41 pm Post subject: Re: China Will Pull the Dollar Plug
MD wrote:
MD wrote:
This whole idea of China being "forced" to hold dollars in order to protect their own economy is short term at best.
The pressures of depletion will very soon create enough incentive for China to view economic disruption as the necessary course of action. In fact I suspect they have been planning this path for ten years or more.
The United States will then find itself tossed aside like a used-up whore. (a very appropriate metaphor, I think..see "whore of Babylon")
China's program for the next 36 months:
1. Crash the Petrodollar.
2. World oil consumption crashes by 1/4 to 1/2, with the US providing the bulk of the reduction.
3. Have all the resources, infrastructure, and contracts in place to rebound rapidly. (this is exactly what China is doing right now, world wide)
4. Emerge as the new dominant economic force.
shameless bump
there are only few things US can possibly do with her massive debt with China.
1.aggressive printing, which dilutes the debt and eventually crashes the dollar.
2.buy up China, while China is still acting stupid.
3.defraud the China with some financial plot, where China ultimately loses their dollar holding to the US.
4.control some indispensable resources and demand an exhorbent price from China
5.sell valuable assets to China.
US has been working hard on 2, 3, and 4, but the Chinese are quietly putting up defense in their own financial system and breaking the monopoly worldwide.
If US cannot control China, 1 is inevitable.
Joined: Dec 07, 2005 Posts: 2025 Location: Australia
Posted: Sun Sep 28, 2008 10:08 pm Post subject: Re: China Will Pull the Dollar Plug
gmin wrote:
MD wrote:
MD wrote:
This whole idea of China being "forced" to hold dollars in order to protect their own economy is short term at best.
The pressures of depletion will very soon create enough incentive for China to view economic disruption as the necessary course of action. In fact I suspect they have been planning this path for ten years or more.
The United States will then find itself tossed aside like a used-up whore. (a very appropriate metaphor, I think..see "whore of Babylon")
China's program for the next 36 months:
1. Crash the Petrodollar.
2. World oil consumption crashes by 1/4 to 1/2, with the US providing the bulk of the reduction.
3. Have all the resources, infrastructure, and contracts in place to rebound rapidly. (this is exactly what China is doing right now, world wide)
4. Emerge as the new dominant economic force.
shameless bump
there are only few things US can possibly do with her massive debt with China.
1.aggressive printing, which dilutes the debt and eventually crashes the dollar.
2.buy up China, while China is still acting stupid.
3.defraud the China with some financial plot, where China ultimately loses their dollar holding to the US.
4.control some indispensable resources and demand an exhorbent price from China
5.sell valuable assets to China.
US has been working hard on 2, 3, and 4, but the Chinese are quietly putting up defense in their own financial system and breaking the monopoly worldwide.
If US cannot control China, 1 is inevitable.
Looks about right.
Just adding that it isn't enough to deal with China. They need to do the same with Japan and Middle East. Especially if the US$ starts weakening again, you will hear some disgruntled noices from these as well. _________________ It's not a bailout, it's a buy-in" - Nancy Pelosi
Posted: Sun Sep 28, 2008 10:31 pm Post subject: Re: China Will Pull the Dollar Plug
gmin wrote:
MD wrote:
MD wrote:
This whole idea of China being "forced" to hold dollars in order to protect their own economy is short term at best.
The pressures of depletion will very soon create enough incentive for China to view economic disruption as the necessary course of action. In fact I suspect they have been planning this path for ten years or more.
The United States will then find itself tossed aside like a used-up whore. (a very appropriate metaphor, I think..see "whore of Babylon")
China's program for the next 36 months:
1. Crash the Petrodollar.
2. World oil consumption crashes by 1/4 to 1/2, with the US providing the bulk of the reduction.
3. Have all the resources, infrastructure, and contracts in place to rebound rapidly. (this is exactly what China is doing right now, world wide)
4. Emerge as the new dominant economic force.
shameless bump
there are only few things US can possibly do with her massive debt with China.
1.aggressive printing, which dilutes the debt and eventually crashes the dollar.
2.buy up China, while China is still acting stupid.
3.defraud the China with some financial plot, where China ultimately loses their dollar holding to the US.
4.control some indispensable resources and demand an exhorbent price from China
5.sell valuable assets to China.
US has been working hard on 2, 3, and 4, but the Chinese are quietly putting up defense in their own financial system and breaking the monopoly worldwide.
If US cannot control China, 1 is inevitable.
Wen Jiabao is the Premier of China, making him one of the most influential international figures of this generation. Today on Fareed Zakaria’s GPS - one of the best shows on TV, we are hearing from Jibao on several topics of extreme relevance to the global community.
I don't think this interview has been fully broadcast yet. But I saw a few pieces of it today.
Wen was saying that the US Depression of the 1930's was much different than the situation in the world today. He was saying that we are all in this financial crisis together. He sounded very supportive, reasonable and avuncular. I'll be looking forward to hearing the full interview.
I don't think the Chinese are going to drop any "dollar bomb" on us. They are going to do what is in their best interest to do which is to help sustain a stable global economy with expanding markets for Chinese products.
What he reading? CNN reported that Wen's favorite philospher is Roman Emperor Marcus Aurelius. Fareed Zakaria quoted a couple of aphorisms from Aurelius' 'Meditations' which sounded strikingly similar to Buddhist teachings - such as that Desire is inherently corrupt because he who has desire is destined for disappointment.
Wiki wrote:
Marcus Aurelius wrote the 12 books of the Meditations in "highly-educated" Koine Greek[1] as a source for his own guidance and self-improvement...
His stoic ideas often revolve around the denial of emotion, a skill which, he says, will free a man from the pains and pleasures of the material world. He claims that the only way a man can be harmed by others is to allow his reaction to overpower him. He shows no particular religious faith in his writings, but seems to believe that some sort of logical, benevolent force organizes the universe in such a way that even "bad" occurrences happen for the good of the whole.
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