There's that line of bullsh1t again. I've responded to it already in this thread. I don't give a rat's ass about "fair" or "the US did it" or "boohoo" or whatever. I've said as much in this very thread. I asked four questions to Deckard, in which both he and you dodged like a moronic little twerp. I've re-posted them four questions no less three times. I can re-post them but that'll just be a waste of my time. I love how you think it's a "fairness" issue. Not at all. To me, it's a real dollars and cents (or Yuan and Fen) question. The US is trying to cheapen its debt to China. There's a price tag, in real dollars and cents to that. It is trying to cheapen its currency to boost exports, once again, there's a real price tag, in dollars and cents to that. You can be a question dodging moronic little twerp all you want, at the end of the day, it's still a dollars and cents question. I'm sure there's some bright eyed kid from China already to post the hypocrisy in the US monetary policy. I waste no time to such efforts. It was futile from the start. As inept as the Chinese government are in PR, even Wen Jiabao had to give the "don't politicize economic issues" line. I see no need for such waste. If it was me, I'd just keep repeating "are we gonna get our money? Are we gonna get our money? Are we gonna get our money? Are we gonna get our money?" It'll quickly shut up anybody with even the least bit sensibility except morons such as yourself. And seriously, I didn't think you could possibly make yourself look more stupid. I was wrong. Seriously? You're telling me the US printing money, rapidly expanding money supply, keeping a zero interest rate, keeping out foreign competition, doesn't affect global trade/exchange rates/inflation/etc etc etc? I would have recommended you several Global Economics textbooks, but from your posts, I don't think you possess the intelligence to even understand a Macroeconomics 101 textbook. How about you do this first? Go to Google. Type in Money Supply. Read it. Type in M3. Read it. Type in inflation. Read. Type in exchange rates. Read it. Do it so that you can at least start looking (to the untrained eye) like you actually know a little bit of what you're talking about before coming here and bullsh1ting again.
And I responded to you. If you don't like the answer, tough ****, Sherlock. Why you think you are worth responding to, in any event, is a mystery to me. You act like an arrogant little prick here, "demand" responses from people you are busy calling "moronic" and seriously expect a different response than you got from me? I have to laugh.
LOL, look who looks like an "arrogant little prick" here. Or maybe your brain skull is too thick to come out with a sensible response?
Somehow this really cracked me up. Bravo. Bravo! I also fail to recall when I clammed I was a native speaker and my English was superior, I think your brother-in-arms was the one making the claim actually. So what's up with the hostility? Are you all one poster or part of the BORG or something?
Says the man who joined the board this month with 52 posts to the man who's been here for 8 years and has 25,000 posts.
Sigh, unfortunately I expect more idiocy from Sweet Lou soon, so let me just preempt him and prove him a moron in advance. In macroeconomics, the basic monetary exchange equation is: MV = PQ Though a monetarist theory, even the Keynesians hold this to be true in the long term, though not necessarily so in the short term, due to "stickiness" of price. There is a problem with this equation though. While Q typically is approximated by nominal GDP, though it is flawed (I won't delve too deep into this), it is at least a measure. However, we don't really have a measure for V or the velocity of money. It is for this reason that we use other forms of this equation. Nevertheless, it is a mathematical truism which like I said, is accepted pretty much by everybody. Now, for small rates of change, this equation can be re-written as: %ΔM + %ΔV = %ΔP + %ΔQ Why? Pick up a calculus book. Now that's interesting. Let's re-arrange the equation to, how about this: %ΔP = %ΔM + %ΔV - %ΔQ How interesting? We still can't approximate V, but let's assume it's constant. What's %ΔP? Why, inflation of course. So what we have here is a mathematical/economic proof that inflation has a positive correlation with with %ΔM, the change in money supply. Duh. And what are the factors that affect exchange rates? 1. Inflation (or more precisely, the differential in inflation) 2. Interest rates 3. Balance of payment 4. Debt 5. Economic competitiveness 6. Terms of Trade Once again, how interest. Interestingly enough, ignoring 3, 5 and 6 which we'll assume constant in the short run, what would affect the exchange rate? Let's see, inflation (which the US is trying to boost through rapid increases in monetary supply), interest rate (which the US is keeping at zero) and of course, debt (and who has a bigger one, in dollar value, than them all, and rapidly increasing). Sweet Lou's idiotic notion that inflation and the Fed rate and US debt somehow "HAVEN'T proved a thing except that you can spew a lot of data" or that the US ISN'T manipulating its currency is well, moronic. And of course, like I said, this is pretty much macroeconomics 101. Well, maybe 102. Those are among the most basic of economics theories. I just find it highly hilarious that someone who doesn't possess the understanding of even those most basic concepts is here to bullsh1t about exchange rates and global trade. What a joke.
Once again Deckard, let's cut the bullsh1t. When I first came here, I didn't call you a moron. I found out that you are one through your outright ludicrous arguments. I see an apple, I call it an apple. The first time I responded to you, I didn't call you a moron. You dodged the question any ways. So let's not pretend that you actually had an argument that time either. Oh really? So you didn't mention TOEFL? But then again, revisionist history is your forte now isn't it? I've yet to find anything useful in your posts. Here are some useful posts for you. Post # 1: 1 Post # 2: 2 ... Post #XYZ: XYZ I think I can rack up the post count real quick.
sigh. sigh sigh sigh sigh. Ok Macro Mofoho, let me ask you one simple question. If the U.S. is rapidly increasing the money supply and debt, both which correlate with inflation... Why is are prices in the U.s. actually declining??? Why is the Fed worried about deflation? Where's the inflation? Hmmmmm....so much for your elementary knowledge. Guess what, econ 102 ain't enough. I suggest you take Econ 608. Maybe then you've got it!
Chuckles. I don't know whether to laugh or cry at this statement. Cry I think. This is a sad day for humanity. It looks like it's not only an economics lesson that you need, but also statistics. I would suggest that you actually look up what correlation means. ALL ELSE THE SAME, increase in money supply increases inflation. Notice something that happened, like you know, GDP, the proxy for Q in MV = PQ kinda went down the toilet. As did V, as approximated (though not exactly) by consumption standing, also fell through the floor. Despite this though, the Fed rapidly managed to squeeze out a position %ΔP through rapidly increasing the money supply. I guess once again, you didn't bother to check your facts. Check what inflation was before the effects of QE 1 was built in. Hint, it's negative. Of course, what I find most interesting through all this is how easily you dismiss the most basic economics concepts. The same ones accepted by anywhere from John Maynard Keynes, to James Tobin to Milton Friedman. And here I was, getting all touched and teary eyed when you placed your mouth solidly on Nobel Laureate Paul Krugman's ****, thinking you actually grew half a brain and started appreciating economics and the fact based approach. Since they're all wrong maybe you should write the book on the subject and win the prize you truly deserve. Like I said, ostrich.
So let me get this straight - you know better than the Federal Reserve, which is loosening money supply not in order to stimulate spend and economic recovery, but just to screw over China right? Give me a break dude, your verbal spewage of nonsense is hilarious. Where do you pull this crap out of your butt hole from? I've never seen someone sound so silly in such a desperate attempt to sound smart.
Why bother? I've long given up arguing with people who repeat themselves, or an Buckeye. Talking about brainwash...most of the young urban Chinese I meet are very vigilant about the possibility that they are being fed with wrong information. Then, you have those folks who hear of "currency manipulation" and run with it. Look up how much has Dollar depreciated over the last year and half against major currencies - these are the countries who did their own money printing binge. And keep in mind of two facts: one, US Dollar is seen as save haven, which was proven at the onset of GFC; two, inflation in the U.S. hasn't pick up. Now ask yourself why? That would much better guide you than a textbook.
I'm ethnic Chinese and I consider myself American. I don't share any resonance with the mainland either. In this topic, there are a lot more fingers that should be pointing at the US than there are at China. Addressing those concerns involve a deep introspection that isn't afforded in today's political climate. A big reason why the Fed is pursuing QE2 is because Congress has been effectively shut down long before yesterday's debacle. Yesterday's election is just confirmation for every other American who didn't care about politics of political gridlock we perversely want (through votes). Congress is the better driver for economic policy than the Fed. With near or below zero interest rates, there aren't many options left for them to try. I think most posters want increased welfare and prosperity for the Chinese people (at whose expense is a different matter), but the cultural mindset and approach is different in how to get there. One shares the reality of emerging out of poverty through work, self-sacrifice and deferred gains while the other is more individualistic and self-actualizing. It's the implicit belief of hard work and fairness saving the day. Time and time again do Americans have to remind themselves (painfully) that its biggest successes in spreading democracy abroad has been to lead by example rather than to lead through force. With force, we have to create native rules and laws out of what we consider an ideal or principle, and the laws we have operate under an implicit trust in a system that isn't universal. Not many Americans have had to live under starvation without food or power. "Give me liberty or give me death!" has recently morphed into a mantra that the government is the source of our current problems with the implicit assumption that choosing a self entitled sense of freedom is better than feeding a starving family or being "oppressed" by taxes needed to pay off our deficits. I think what led me to this tangent is how self righteous and entitled we've become and the idea that other countries will continue to follow lock step with our wishes. The primary things we have to do is resolve our budget, the deficits, and entitlement reform. Another is weaning off foreign fossil fuels. We import 200 billion dollars worth of gas every year. That's more than the what we lose to China through trade. All of this is unlikely and I'm skeptical it'll even be on the table in the next 4 or 5 years. Then again, stoking nationalist anger to divert the public's attention is textbook for bankrupt states.
The gov't policies required to address the problems we face would take a generation to before the course even began to change. It goes far beyond our consumptive habits all the way down to the core of our values - that we place sports and entertainment higher than education for instance. That we place individualism over community. That we have a false sense of greatness and that we can not be in decline. I think yesterdays results aren't about democratic or republican, but the first step in realizing that our country is terribly on the wrong track and that the historic vote of 2008 didn't deliver that message hard enough to our leaders. They didn't get it. Now voters have done it again, and I doubt they will get it either. Perhaps by 2012 politicians will begin to realize that their manipulation of messages and partisanship aren't working. But to say that we don't have a trade problem that's being exasperated by Chinese pegging their currency to the dollar is just shear denial. Man, it's a big drag on us. no, it's not the whole reason and may not be even the biggest reason, but it's still cutting into the wound and making the situation worse than it has to be. It's not a permanent cure, but right now, we need to cut that imbalance anyway we can and you say we shouldn't use force, I only say that we don't have a choice. Leading by example is a luxury afforded to the strong nations. Well, soon, China will be the strongest. And right now, with 1% growth and near 20% unemployment laden with debt, we aren't so hot right now. No one here is "blaming" China, I think we are just advocating doing what needs to be done to restore balance. We have tried leading with carrots and by example, but no one is perfect and with China, they will always use our past to call us out as hypocrits. The fact is, our nation is in decline and we are close to experiencing deflation which is actually a really bad thing. the fact the fed is engaging in unprecedented monetary easing to try to get us out of this malaise should be something that's a concern across the world. I don't think people truly comprehend the terrible state our economy is in today and how fragile it is. China deciding to return to pegging it's currency against the dollar just when this crisis it really was a slap in our face and shows that in fact they are indeed our adversary. As such, I don't see any reason to play nice guy that gets run over. Let's not be naive and think they are our friend here and how much has leading by example gotten us here? Has human rights improved? Is China more democratic today? Is their media more open? No no and No.
Chuckles. There's a strawman if I ever saw one. I didn't say the Fed was loosening money supply to screw China. I assume it's doing so at the US' self-interest. The economics theory DOESN'T rely on the intent of the Fed. Doesn't mean **** what the Fed is trying to do. By definition, IT IS MANIPULATING TH DOLLAR. I've addressed the "Fed is trying to stimulate spending and economic recovery" bullsh1t no less than 5 times already by now, ostrich. FACT: The US money base is ever increasing, RAPIDLY, for as long as we have data, before China was even on the scene. FACT: The dollar is up 35%+ over the last 30 years, when China came around, as measured against a trade weighted basket. FACT: The money base in the US increased through good and bad economic times. To pretend that it only did so to fight a lagging economy is, as I said, joke of the century. Heck, I'll even bet that you think Ben Bernanke earned the nickname Helicopter Ben during the recent crisis. Good it. The scary thing is, Ben would be considered a budget hawk compared to Greenspan. What's absolutely hilarious though, is you (chuckles) thinking I'm posting economic theories to look smart. In another country, people would say that you are making a solid arguments when you post the underlying facts, stats and theories. But to morons such as yourself. Btw, like I said, these are some very very basic theories. If I was actually trying to look smart, I'd post some FAR more advanced ones. Being the Oracle that I am, I had already predicted this reaction unfortunately. I had predicted facts won't change your mind. Your kind never let facts get in the way of your bullsh1t. I already went through the same thing with Sammy Fisher and Deckard. I know the drill. I'm only here to PROVE that you are moron and an ostrich. Looks like I've done just that.
Well, the Commie top leadership will continue to rely on what it is best at: leading steadily, pragmatically and sensibly. They might not be able to fix all of China's problems immediately, heck even the problems within their own party and their subordinates (including the regular corruption, special interests, repression, etc.), but they are working on it, and they are working on it slowly and steadily like the tortoise of the fables and the oxen of the fields - plodding ever on and on. Indeed, the Commies, especially the folks at the very top, for all the revulsion and hatred heaped upon them by Western governments and propaganda, are possibly doing the best governing job in the world currently (probably their only challenges at the top level are the Germans). They just knuckle down, suck in the hysterics and punishment from the external fools, and continue building the internal strength, calibre and the prosperity of their people. That's what most important to them Commie "fools". Let me give a simple analogy of what the top Commie leadership's thinking is like. The China of old was like this weak, sick, thin, soft wimpy boy who was the favourite target of the world's big bullies because he was very easy to pick on and he had some money and resources that they (the bullies) could force him to give over to them. They picked on him repeatedly, beat him up many times, steal his money, steal his property, and heck, most probably even raped his wife. Yeah, the Chinese will never forget the Opium wars and the Sino-Japanese wars. So what has these wimpy boy been doing for the past 30 years? Maturing and growing into a man. He has decided to make himself strong. He exercises hard, hits the weights, does his running, trains his mind, builds his health, sacrifices instant gratification for long term gain. There is a lot of pain; his body aches every day, he feels tired and exhausted at many times, he questions whether what he is doing is worth it, since he is in a lot of pain here and there, but ultimately, he decides... IT IS WORTH IT! And the bullies have noticed. None of them dare to take on this formerly wimpy boy now, as he is growing into a big strong man. No longer can they pick on him easily, nor can they steal his money, his property or even rape his wife again. Yes, they call him all sorts of dirty names and spread all sorts of rumours about him, but this formerly wimpy boy shrugs it off, sucks it in or uses it as a motivation to become an even stronger, smarter and better person. In the meantime, the formerly strong bullies, like all bullies of yore, made several big mistakes and find that they are getting weaker and weaker. And they see this strong man growing up and fear that he will take revenge on them for all the hurt they have done to him. So they try to do everything in their power to stop his growth, including spreading even more false rumours and taking indirect malicious action against him. Fortunately, this growing man is smarter than them. He continues to strengthen himself. So that there will come a day when he can never be hurt ever again, no one can ever steal his property ever again, and he will be able to properly protect his wife next time. China has been blessed with some remarkable leaders from the Commie party in the past 30 years. Leaders of the calibre of Zhou Enlai, Deng Xiaoping, Hu Yaobang, Zhu Rongji, and now Hu Jintao and Wen Jiabao. The incoming president and premier, Xi Jinping and Li Keqiang, have been commented by many Western and Japanese observers to be very capable and sensible leaders in their own right. Their fellow incoming Standing Politburo Committee members (Li Yuanchao, Wang Qishan, Liu Yuanshan, possibly Wang Yang, Bo Xilai, Zhang Dejiang, etc.) may even put Abraham Lincoln's Team of Rivals to shame due to their sheer calibre and ability. The party may be a Commie party in name, but their leaders are doing what leaders have to do and are meant to do. China's present and future are in good hands. Ultimately, the immortal words of Deng Xiaoping will always ring true: "It doesn't matter whether the cat is black or white. As long as it catches mice, it is a good cat". The none-democratic Commie cat is catching mice. Let's see whether the democratic US government cat, after this mid-term election, starts catching any mice now.
"Well, the Commie top leadership will continue to rely on what it is best at: leading steadily, pragmatically and sensibly. They might not be able to fix all of China's problems immediately, heck even the problems within their own party and their subordinates (including the regular corruption, special interests, repression, etc.), but they are working on it, and they are working on it slowly and steadily like the tortoise of the fables and the oxen of the fields - plodding ever on and on......" Post of the day, making a good point in a good way
I don't think China is as vilified here as you think. Not as a communist nation, more as a nation kicking our butts because it is kicking out butts right now. China is totally beating us at our own game, no doubt about it, and we're hurting bad about it.
