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China > America


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#21
sees_all1
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Which is the whole reason your screwed. Your money is literally worth the paper its printed on. You have no hard assests to back it up.

I didn't realize anyone was still on a precious metal standard...

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#22
rocc0
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Missles ect come to mind but if there are no wars to fight who will actually buy them?

I don't feel like refuting your entire argument because others have already done so, but there will never (ever (ever)) be no wars for more than 10 years.

TANSTAAFL


#23
Lenticular_J
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You import a lot more then you export.
[...]
And that doesn't count any aid that the US gives to other countries.
[...]
Which is the whole reason your screwed. Your money is literally worth the paper its printed on. You have no hard assets to back it up.

Yeah, we do import a lot more than we export. But we also export majorly. I don't think you grasp the concept of GDP - Gross Domestic Product. It's the world market value for all goods and services produced in a nation in a given year, either nominal (using price values for that year) or real (going by whatever year's values you want). We have the largest in the world - our GDP is roughly the same as our national debt, and, depending on who you ask, it is the largest (by some accounts second) in the world (some figures count EU exports to itself, but evened out the EU and US GDPs are close). GDP is what matters. Net exports - shucks, most of the world imports more than they export. Especially in a service-based economy.

Aye, and sees is right - if you think Canada has assets backing up their colorful money, you're quite wrong. Even though an American dollar is only backed by the American government, it's still worth more than a lot of nations'.

All this being said, I do think our nation is in trouble - not from competition, so much as from its own growth. We're growing too much, and not in the right ways. Agriculture is suffering more than it should be, and we are far too dependent on foreign energy resources, and nonrenewable fuels in general. In Texas, the largest power providers get huge percentages of their electricity from wind farms out here in the western part of the state, but it can be faulty, and depending so much on a resource that is not completely dependable has already blown up several times with major outages in the cities to the east. We just need to slow down and take a look at what we're doing. Then, we need to carry on.
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#24
michel555555
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Which is the whole reason your screwed. Your money is literally worth the paper its printed on. You have no hard assests to back it up.

I didn't realize anyone was still on a precious metal standard...

Lets say the EU, Russia and China get tired of US posturing and dump the dollar as the worlds reserve currency. Your now screwed because you have nothing backing up your dollar. Countries with high exports don't have that problem because they can then sell their exports for whatever the new currency is. Since you import so much your screwed because you now have nothing to buy those goods with.


Missles ect come to mind but if there are no wars to fight who will actually buy them?

I don't feel like refuting your entire argument because others have already done so, but there will never (ever (ever)) be no wars for more than 10 years.


Shall I get back to you in october when the US will have been in Afghanistan for 10 years?

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#25
rocc0
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Which is the whole reason your screwed. Your money is literally worth the paper its printed on. You have no hard assests to back it up.

I didn't realize anyone was still on a precious metal standard...

Lets say the EU, Russia and China get tired of US posturing and dump the dollar as the worlds reserve currency. Your now screwed because you have nothing backing up your dollar. Countries with high exports don't have that problem because they can then sell their exports for whatever the new currency is. Since you import so much your screwed because you now have nothing to buy those goods with.

The US is the fourth highest exporter in the world...

TANSTAAFL


#26
Lenticular_J
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Which is the whole reason your screwed. Your money is literally worth the paper its printed on. You have no hard assests to back it up.

I didn't realize anyone was still on a precious metal standard...

Lets say the EU, Russia and China get tired of US posturing and dump the dollar as the worlds reserve currency. Your now screwed because you have nothing backing up your dollar. Countries with high exports don't have that problem because they can then sell their exports for whatever the new currency is. Since you import so much your screwed because you now have nothing to buy those goods with.

That isn't the way the world works. None of those nations have the power to change the most widely-accepted currency in the world. Nobody backs up their currency in modern times. Our currency is backed by our sheer amounts of production, just as every nation's is. The EU as a whole has a huge amount of production, whereas Russian and Chinese GDPs are far lower than their population should dictate. If the United States didn't import as much as we did, the global economy would be destroyed. What magical new country would pop up in this fantasy you're spinning to pay for all these goods?

If you're going to claim that we're "screwed", use better reasoning than "I changed the rules."
MATT DAMON AND MONEY.
catch it now so you can like it before it went so mainstream

#27
Dexek
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Ahhh America.. Canada borrowed their money from a snow bank. :thumbup:


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#28
Nenga
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Which is the whole reason your screwed. Your money is literally worth the paper its printed on. You have no hard assests to back it up.

I didn't realize anyone was still on a precious metal standard...

Lets say the EU, Russia and China get tired of US posturing and dump the dollar as the worlds reserve currency. Your now screwed because you have nothing backing up your dollar. Countries with high exports don't have that problem because they can then sell their exports for whatever the new currency is. Since you import so much your screwed because you now have nothing to buy those goods with.

That isn't the way the world works. None of those nations have the power to change the most widely-accepted currency in the world. Nobody backs up their currency in modern times. Our currency is backed by our sheer amounts of production, just as every nation's is. The EU as a whole has a huge amount of production, whereas Russian and Chinese GDPs are far lower than their population should dictate. If the United States didn't import as much as we did, the global economy would be destroyed. What magical new country would pop up in this fantasy you're spinning to pay for all these goods?

If you're going to claim that we're "screwed", use better reasoning than "I changed the rules."


But, but... he has money :cry:. I couldn't resist... I'm weak.

ALso I have nothing constructive to add the the discussion, mainly because it's stupid. Nice troll though, w/e the name is of the person who created the thread.

#29
rocc0
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Missles ect come to mind but if there are no wars to fight who will actually buy them?

I don't feel like refuting your entire argument because others have already done so, but there will never (ever (ever)) be no wars for more than 10 years.


Shall I get back to you in october when the US will have been in Afghanistan for 10 years?

You say that as if it means something, but it doesn't.

TANSTAAFL


#30
Sbrideau
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You import a lot more then you export.
[...]
And that doesn't count any aid that the US gives to other countries.
[...]
Which is the whole reason your screwed. Your money is literally worth the paper its printed on. You have no hard assets to back it up.

Yeah, we do import a lot more than we export. But we also export majorly. I don't think you grasp the concept of GDP - Gross Domestic Product. It's the world market value for all goods and services produced in a nation in a given year, either nominal (using price values for that year) or real (going by whatever year's values you want). We have the largest in the world - our GDP is roughly the same as our national debt, and, depending on who you ask, it is the largest (by some accounts second) in the world (some figures count EU exports to itself, but evened out the EU and US GDPs are close). GDP is what matters. Net exports - shucks, most of the world imports more than they export. Especially in a service-based economy.

Aye, and sees is right - if you think Canada has assets backing up their colorful money, you're quite wrong. Even though an American dollar is only backed by the American government, it's still worth more than a lot of nations'.

All this being said, I do think our nation is in trouble - not from competition, so much as from its own growth. We're growing too much, and not in the right ways. Agriculture is suffering more than it should be, and we are far too dependent on foreign energy resources, and nonrenewable fuels in general. In Texas, the largest power providers get huge percentages of their electricity from wind farms out here in the western part of the state, but it can be faulty, and depending so much on a resource that is not completely dependable has already blown up several times with major outages in the cities to the east. We just need to slow down and take a look at what we're doing. Then, we need to carry on.

You still fail to see that the USD is getting weaker. If the Canadian government hadn't purposely done stuff to help all the companies exporting to the US by lowering the value of the CAD, Canadian money would be worth more than the USD.

#31
Lenticular_J
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You still fail to see that the USD is getting weaker. If the Canadian government hadn't purposely done stuff to help all the companies exporting to the US by lowering the value of the CAD, Canadian money would be worth more than the USD.

In recent times, the USD is getting stronger if anything. That or the Euro is getting weaker, but I haven't paid any attention to the EU - I just know that they're no longer far ahead of the dollar. I personally am surprised that Kanadian Kash is worth quite a bit less than the dollar, seeing as Canada is our biggest trading partner. We ought to be equals.

Of course, having a currency that's too powerful can be bad for a country. We would likely export more if our currency was weaker.
MATT DAMON AND MONEY.
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#32
hfbrads
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In recent times, the USD is getting stronger if anything. That or the Euro is getting weaker, but I haven't paid any attention to the EU - I just know that they're no longer far ahead of the dollar. I personally am surprised that Kanadian Kash is worth quite a bit less than the dollar, seeing as Canada is our biggest trading partner. We ought to be equals.

Of course, having a currency that's too powerful can be bad for a country. We would likely export more if our currency was weaker.


Jeez, could this post be any more wrong? Both the CAD and the Euro are ahead of the USD.

#33
Nenga
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In recent times, the USD is getting stronger if anything. That or the Euro is getting weaker, but I haven't paid any attention to the EU - I just know that they're no longer far ahead of the dollar. I personally am surprised that Kanadian Kash is worth quite a bit less than the dollar, seeing as Canada is our biggest trading partner. We ought to be equals.

Of course, having a currency that's too powerful can be bad for a country. We would likely export more if our currency was weaker.


Jeez, could this post be any more wrong? Both the CAD and the Euro are ahead of the USD.

You wanna prove you statement before we take it as fact? kthx.

#34
Giordano
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In recent times, the USD is getting stronger if anything. That or the Euro is getting weaker, but I haven't paid any attention to the EU - I just know that they're no longer far ahead of the dollar. I personally am surprised that Kanadian Kash is worth quite a bit less than the dollar, seeing as Canada is our biggest trading partner. We ought to be equals.

Of course, having a currency that's too powerful can be bad for a country. We would likely export more if our currency was weaker.


Jeez, could this post be any more wrong? Both the CAD and the Euro are ahead of the USD.

You wanna prove you statement before we take it as fact? kthx.

I'll like to remind that Lent never said USD > EU, just that EU is falling and USD is rising.
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#35
jasignhagj
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The Canadian dollar has been higher for a while now. Not that that means the US economy is going to collapse any time soon though.

#36
Sbrideau
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The Canadian dollar has been higher for a while now. Not that that means the US economy is going to collapse any time soon though.

Lol, guess I didn't keep myself updated on this.

#37
das1330
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You import a lot more then you export.
[...]
And that doesn't count any aid that the US gives to other countries.
[...]
Which is the whole reason your screwed. Your money is literally worth the paper its printed on. You have no hard assets to back it up.

Yeah, we do import a lot more than we export. But we also export majorly. I don't think you grasp the concept of GDP - Gross Domestic Product. It's the world market value for all goods and services produced in a nation in a given year, either nominal (using price values for that year) or real (going by whatever year's values you want). We have the largest in the world - our GDP is roughly the same as our national debt, and, depending on who you ask, it is the largest (by some accounts second) in the world (some figures count EU exports to itself, but evened out the EU and US GDPs are close). GDP is what matters. Net exports - shucks, most of the world imports more than they export. Especially in a service-based economy.

Aye, and sees is right - if you think Canada has assets backing up their colorful money, you're quite wrong. Even though an American dollar is only backed by the American government, it's still worth more than a lot of nations'.

All this being said, I do think our nation is in trouble - not from competition, so much as from its own growth. We're growing too much, and not in the right ways. Agriculture is suffering more than it should be, and we are far too dependent on foreign energy resources, and nonrenewable fuels in general. In Texas, the largest power providers get huge percentages of their electricity from wind farms out here in the western part of the state, but it can be faulty, and depending so much on a resource that is not completely dependable has already blown up several times with major outages in the cities to the east. We just need to slow down and take a look at what we're doing. Then, we need to carry on.

You still fail to see that the USD is getting weaker. If the Canadian government hadn't purposely done stuff to help all the companies exporting to the US by lowering the value of the CAD, Canadian money would be worth more than the USD.


Currencies float and are adjusted in value by central banks based upon the particulars of the economic situation at the time. At the moment a cheap dollar is advantageous to the American economy because it makes exports cheaper and helps American business, so that's the policy the Fed has pursued.

Day to day monetary prices mean little in the long run.

#38
Lenticular_J
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The Canadian dollar has been higher for a while now. Not that that means the US economy is going to collapse any time soon though.

Lol, guess I didn't keep myself updated on this.

Huh, wow, I had no idea.
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#39
No_M0re
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The Chinese have a 20times better work ethic than any western country.

They also have a lot more people, a lot more money.

Soon they'll get freedom of speech (although from what I can tell most Chinese arn't fazed by it) and then yeah, they'll be the new superpower :thumbup:

Same with India, I like Chinese culture though so I dunt care.

Today it was in the news that China is the 4th biggest publisher of scientific research. Trust me, they're hoarding money and soon.. muhaha.

Also when they finally yet the RMB(quai :)) be controlled by the world market things will change drastically.

Sichen (I dont no how to spell chinese :()

#40
rocc0
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The Chinese have a 20times better work ethic than any western country.

That's why they do manual labor for us.

They also have a lot more people, a lot more money.

Totally false, US has a higher GDP.

Soon they'll get freedom of speech (although from what I can tell most Chinese arn't fazed by it) and then yeah, they'll be the new superpower :thumbup:

Having freedom of speech makes you a superpower?

Today it was in the news that China is the 4th biggest publisher of scientific research. Trust me, they're hoarding money and soon.. muhaha.

US was probably #1

TANSTAAFL





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