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Wow!! Krugman on China: "Rare & Dangerous"

Discussion in 'BBS Hangout: Debate & Discussion' started by glynch, Oct 18, 2010.

  1. MFW

    MFW Member

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    Geez, seriously, talking to Sweet Lou is like talking to a wall. It bounces right back. I think it's time to actually give him an ACTUAL economics lesson.

    http://dollardaze.org/blog/?post_id=00578

    In that link are several chart showing the US money base since 1960.

    Now, there is a flaw in that chart. It shows the absolute money supply. I would have shown YoY increases or at least scaled the chart, because it makes it appears that the US money supply is stable in the 60's when in reality, that's not the case. After all, M2 increasing from 0.289 trillion in 1959 to 0.428 in 1965 (a 48% increase, and it's not even the broadest measure of money) is very very significant, it won't even register on those charts because of the scale.

    Despite that though, even this flawed chart highlighted the astonishing expansion of US money supply. Even in this chart, by the early 70's, the increase in supply started showing up in the charts. And it shows that even before Deng Xiaoping's reforms, before China was even an issue, the incredible pace of monetary expansions had occurred. Indeed, China was welcomed onto the international stage in an environment of rapidly ever increasing money supply.

    The only respite (in which there was a stabilization, not a decrease) was during George H. W. Bush, which is one of the many reasons he is by far my most favourite American president over the past 40+ years.

    2001 was another statistically important data point. Dubya took the office that year, and of course, China joined the WTO that December. Since that year, exports from China to the US and Europe jumped in a big way. However, as the chart showed, US money supply had by that time, already starting going through the roof under Clinton and his (and Greenspan's) easy money policy.

    Of course, Bush's idiotic policies worsened the problem, but sorry Democrats, it started under Clinton. More importantly though, it showed that the US, which already was pretty much printing money to pay for actual manufactured goods (aka. cheapen its way out of debt), did so at an ever faster pace.

    This led to Asia's, especially SE Asia's export led economies through a very interesting cycle. It first built a huge bubble in the likes of Singapore, Thailand, Malaysia, Indonesia, South Korea, etc through a flood of hot money into those countries. And then of course, the situation was made worse when those Asian governments were forced to maintain exchange rate parity with the US (to make sure they get their money and defend their exports), they left their own economies in a house of cards.

    It turned out (duh) they couldn't buy all those dollars the Fed was printing (with real wealth, of course) and subsequently had to abandon the dollar peg. Thailand was the first to do so and it spread from there. At that point, American and European based hedge funds picked them apart and drove them through the ground. So the idea that the US was the one that had to "ensure a fair playing field" must be the joke of the century.


    Hint hint Sweet Lou, if you're gonna bullsh1t, at least pick a lie that even a r****d (like Deckard) with a search engine (assuming he knows how to use one) could have picked apart in 5 seconds . It is that easy.

    So the only reason you didn't "know" this could only be that you're purposefully keeping your head in the sand.
     
  2. rocketsjudoka

    rocketsjudoka Member

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    Due to the election I haven't been following this thread and wasn't aware I was a topic of debate.

    That's gotta be worth some rep points. ;)

    Anyway just to respond yes I am ethnic Chinese and yes I don't criticize everything the PRC does but I won't chalk that up necessarily to being in my blood but more that I try to understand every side of an issue. That said I do have an interest with what goes on there and I can't ignore the ties of family history and culture. I did feel very proud about the Olympics, the great development and am dismayed when anti-PRC rhetoric becomes racially tinged or veers into "Yellow Peril" type of before.

    I don't though consider the CCP, or really even the PRC, to be China. This might be to that my people were driven out of what is now the PRC by the CCP in 1949. Things like the Cultural Revolution / Great Leap Forward aren't part of my family's history nor the rapid growth under Deng and Jiang. Further while I am Chinese by blood I am undeniably an American by up bringing and outlook. The Opium Wars and the Rape of Nanjing were part of my family's history but perhaps being an American I don't feel the tug of history as strongly as someone who was born and raised in China.

    My view of the political entity of the PRC is somewhat skeptical as while I recognize its legitimacy I don't necessarily consider it the be all of what the idea of "China". In that sense I have never felt that criticism of PRC is criticism of the Chinese or the obligation to defend the PRC from outside criticism. In the same way I don't feel that either the Republicans or Democrats or any particular Presidential Administration is the be all of the idea that is the United States of America.

    To quit just talking about me my general opinion of these debates is that really both those who are critical of the PRC and those who defend it need to step back and tone down the rhetoric on both sides. Calling each other "morons" or "PRC-drones" doesn't really advances the discussion. The truth is both countries need each other and understanding whether on D & D or in the WTO is needed more than sabre rattling.
     
  3. MFW

    MFW Member

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    And to summarize, am I surprised the Asian Financial Crisis occurred in 1997, LMAO, what do you think?
     
  4. MFW

    MFW Member

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    You must be kidding. Huawei, the company he mentioned (ZTE too), has been trying to crack the US market for years. For example, it's trying to bid on a Verizon deal. But there's always another regulatory hurdle isn't there?
     
  5. Sweet Lou 4 2

    Sweet Lou 4 2 Member

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    Really I don't see people attacking the Pro-PRC/CCP/Chinese posters hear very much at all, but there's a lot of nasty stuff coming out from our Sinophilic guests here.

    I see the Chinese manipulation of her currency and restrictive policies - which I have provide direct proof of many times to be a real drag on our economic recovery and strong driver of our monetary policy.

    What I see in return is a lot of attacks that don't make any sense or sites that talk about the federal funds rate but no direct connection to the Chinese currency trends nor policy and blaming the U.S. for everything.

    This debate is going nowhere fast. So I am giving up. I have yet to see convincing evidence or even a good argument agianst what I've written - and I am sure there is one. But clearly the folks in here would rather demonize than debate...much like the other forums and what you see between the right wing and others.

    D&D is a joke my man. I'm wasting my time in here.
     
  6. MFW

    MFW Member

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    I believe I'm seeing a new breed of ostrich here. Quick, somebody take a picture.
     
  7. Sweet Lou 4 2

    Sweet Lou 4 2 Member

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    1,000 & 1 insults, most of them making no sense in English. May I suggest a TOEFL refresher course there? At least then I'd understand your insults.
     
  8. MFW

    MFW Member

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    Oddly enough, I think my English is far superior to yours. At a minimum I possess far superior reading comprehension skills. But I do think it's rather convenient that the whole point of my posts didn't manage to get through your thick skull. Seriously, and you wonder why I call you a moron.

    Like I said, next time you bullsh1t, at least try to find a lie that's not one that even a r****d like Deckard can pick apart in 5 seconds.
     
  9. Sweet Lou 4 2

    Sweet Lou 4 2 Member

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    Ah MFW - your initials of your name are comical in and of themselves. But your posts do bring me amusement I must admit. This one especially brings me laughter.
     
  10. MFW

    MFW Member

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    I also thought I'd point out the irony here and put my insult in context.

    http://www.phrases.org.uk/meanings/80800.html

    Ostensibly even the most basic cultural colloquialisms escape your superior English.
     
  11. MFW

    MFW Member

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    Chuckles. I've known that 5 years olds in America often resort to sheer idiotic amusements, such as thinking peeing in somebody else's drink is funny. I was under the impression that most grow out of it. Apparently not.

    Pray, do tell me what my moniker stand for. And yes, I have a pretty good idea what you're going to say. Sadly you aren't the only idiot that resort to such juvenile musings. Your ole buddy ole pal Sammy Fisher had already done the same. Grow up.
     
  12. Sweet Lou 4 2

    Sweet Lou 4 2 Member

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    Ostensibly? Haha - are you trying to show off now? What other "big" words have you learned oh master of English?

    Let's see some more of your idiomatically fun expressions, Mr. Malaprop.
     
  13. MFW

    MFW Member

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    LMAO. Here's the definition of the word:

    http://mw2.merriam-webster.com/dictionary/ostensibly

    os·ten·si·bly
    adv \-blē\
    Definition of OSTENSIBLY
    1
    : in an ostensible manner
    2
    : to all outward appearances


    If I misused the word somehow, I'd love to be hear about it. But interestingly enough, it occurred to me that my English is far more polished, my arguments far better constructed, my phrases far more eloquent. Nor is this the first time I used the word.

    How about this, if "ostensibly" is too much, I'll dumb it dumb it down to "apparently." How's that? I'm still waiting for an actual argument, moron.
     
  14. Sweet Lou 4 2

    Sweet Lou 4 2 Member

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    Oh, you know about that peeing in the coke drink joke? No wonder you hate Americans so much. Dude, get over it.

    Calling people idiots and morons at every turn sure makes you sound like a grown-up.

    So since this thread is completely derailed - not that it was going anywhere anyway, how about we call it quits? No joke!
     
  15. Sweet Lou 4 2

    Sweet Lou 4 2 Member

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    Apparently your amazing reading comprehension failed to match your ego on that one. But since you are far more polished and better constructed, I am surprised you haven't really been very persuasive. Strange isn't it?

    Well my friend, I tire of your disrespectful attitude. Take care and good night, and good riddance.
     
  16. MFW

    MFW Member

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    As I've maintained all along, it would had been one thing had I just called you a moron. I've actually proven that you're a moron. As real_egal already stated, none such as yourself had actually managed to change your opinion in D&D, even when your arguments fly in the face of facts, which I've shown again and again. Hence the "ostrich" argument. Now that I've connected the dots for you, can you appreciate the context? Funny, my kids possess more ability to appreciate the context, not to mention far superior thought processes and logic.

    Also as I've said, I'm still waiting for a rebuttal from you. Your pathetic excuse for arguments had been nothing but one deflectionary tactic to another, with no relevance to the thread. It was already derailed by you before I even got here.

    Arguing the usage of "ostensibly?" Ha ha, what a joke. The sheer irony of it all was, I didn't actually think it was a "big word." Hey guess what, I use the world splendid too. Boy, I'm really pulling out all the stops impressing an idiot online aren't I?

    I guess it might shock you, not everybody uses dumbed down third grade USA Today language.
     
  17. Karlfranklin

    Karlfranklin Member

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    Because you deserve it, to be honest. Don't hide behind the "I'm a native speaker, my English is superior than yours" bull****. That'll add more salts on injury, to say the least.

     
    1 person likes this.
  18. Sweet Lou 4 2

    Sweet Lou 4 2 Member

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    Wow wee wow wa!

    Talk about chip on the shoulder. You guys need an enema or something.
     
  19. MFW

    MFW Member

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    Chuckles. You're like the joke of the day. You never fail. In this thread, I posted facts, figures, numbers, stats, history, analysis and of course, well thought out arguments. You? The best you've done is is posted a bunch of op-eds. I read them. I read your garbage. Just like I read Deckard's garbage. Just like I read Sammy Fisher's garbage. Then I picked them apart. Wasn't hard. It couldn't possibly be hard to pick apart when you're full of ****.

    Then of course, after your bullsh1t got picked apart, you started dodging questions you couldn't answer, because you didn't have a position to fall back on. You started deflecting questions, once again, because you didn't have a legitimate position to fall back on.

    As far as I'm concerned, my English (or anyone else's for that matter) isn't an issue. Never was. As far as I'm concerned, my ego (or anyone else's for that mater) isn't an issue. Neither was "ostensibly" an issue. Never was. They're irrelevant. I didn't bring them into the discussion. You did. Because since you didn't have an actual position to fall back on, you had to deflect the arguments any way you can.

    I responded to them, just like I responded to your other garbage. I picked your idiotic rants apart, just like I did your other garbage. And you wonder why I call you a moron.

    The way I see it, there's no discussion going on. It's pretty much me beating your head into concrete and you hiding your head in the sand like an ostrich. You can keep pretending I didn't post those facts, figures, numbers, stats, history, analysis and of course, well thought out arguments; but guess what, they're still there; and you can keep bringing up my ego, English or whatever. AT the end of the day, you're still a moron.
     
  20. Sweet Lou 4 2

    Sweet Lou 4 2 Member

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    You have yet to effectively dispute any of my arguments except to say that the U.S. has done evil things in the past so it's ok for China to do what it wants.

    Your facts and figures haven't proved a thing except that you can spew a lot of data that's not even related.

    I'm sorry, but you argument logic looks like this: "You are a moron, so I am right".

    Great job!

    By the way, we call that sarcasm.
     

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