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| User Info | Squirrel Finds Nut: IRA in forum [Ticker] | |||
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Genesis Posts: 71421 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/977-Sq....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-21 10:12:54
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Wthef Posts: 620 Incept: 2008-02-25 
philadelphia
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thanks karl, another great ticker! i'v been trying to boycott chinese products for awhile but ******n they make everything! its disgusting even the AMERICAN girl doll which i mentioned somewhere in the bar. Thanks again !!! ---------- "I had to look at her today and sat there staring at her bronze naked body laying in the sun, a flaming red candle in her hand she took me in. Her figure consumed me 36-32-34 and said "take me" I stumbled forward as I engaged her stare and she pulled me down towards her. I ripped off my shirt and dropped my pants, we f
2009-04-21 10:22:51
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Bozonian Posts: 14033 Incept: 2007-09-01 
PFT - Pure F'n Tin
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But, but I got to have my electric powered, new and improved cheese emulsifier!
---------- I'm so depressed about outsourcing I called the suicide hotline and got a call center in Pakistan. They got all excited and asked me if I could drive a truck. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice.
2009-04-21 10:23:28
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Jparks Posts: 490 Incept: 2008-04-07
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Agree completley, Karl, but just TRY to avoid buying products from China. ****ing impossible.
---------- "We used to be a country that made ****. Now, we just have our hand in everybody else's pocket." Sobatka, The Wire.
2009-04-21 10:24:40
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Pcaldallas Posts: 279 Incept: 2009-03-02
Dallas, TX
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If true and as reprehensible as that statement is it is even more pathetic that the USA has allowed itself to be put in this position.
2009-04-21 10:26:23
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Fidgit Posts: 14065 Incept: 2008-02-18
AllyBammy
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The attempt to boycott China was what first led me to buying most of my clothes at thrift stores...better quality, lots cheaper, and no wrassling with my conscience ;)
---------- I say it's spinach, and I say the hell with it.
2009-04-21 10:26:45
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Asimov Posts: 26691 Incept: 2007-08-26
east tennessee Online
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Quote:but just TRY to avoid buying products from China. ****ing impossible. No, it's not. You just have to look. In many cases there are american choices even at WAL-MART. I got some good cheap glass bowls there a while back. American made. There is an abundance of american made crap in amongst almost all the "neccessities." Don't go looking at clothes, toys or electronics though. You may not be able to avoid "all" chinese ****, but you can sure put a big ass dent in it if you try. ---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
2009-04-21 10:30:25
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Xanares Posts: 1288 Incept: 2008-11-10
London
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Wont be long before they start faking the "Made In" tag then.
2009-04-21 10:34:27
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Mondocondo Posts: 3141 Incept: 2007-12-03
Miami Online
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KD, you have been predicting for some time that China would stop buying our treasuries because of our profligate spending, and that would be the wake up call that our gov can't keep up that ****. Now China is threatening to stop buying for a different reason. In the end, does it really matter what their reason is? We get to the same inevitable place one way or the other.
2009-04-21 10:36:45
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Oxfordrick Posts: 2685 Incept: 2007-07-09
san diego
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Why do you think we have not temporarily nationalized banks along the Swedish model of the 90s? Isn't it because we don't want to guarantee the creditors, as the Swedes did, which is the issue here? But if we cram down the banks then the whole life insurers catch a cold. Whatever the problem, surely protectionism is not the answer.
2009-04-21 10:48:21
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Finn Posts: 1144 Incept: 2007-08-02 Near Russia
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The Chinese should not just stop participating in the auctions, they should dump their holdings as much as they can. He who panics first, panics best. They should liquidate while they can. It will cost them some significant percentage of the principal, but if they are first at the door at least they get some value out. And Bernanke will have a lot of treasuries to mop up with his printing press, which will be just right for him. There's no reason for any sane individual or entity to hold any debt of any of these nations that use quantitative easing (printing). Getting into a position where one has such a big position that it is difficult to liquidate, is just plain stupid. And there's a price to pay for stupidity.
2009-04-21 10:49:34
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Thewad Posts: 168 Incept: 2007-06-26 Ontario Canada
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I have a simple credo....ABC...Anything But Chinese. EOM
2009-04-21 10:49:48
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Skip Posts: 82 Incept: 2008-09-30
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I would counter your argument in that the US does not have the best and brightest working in the best interest of the US, people and government. China on the other hand does as the most prestigious positions would be ones working for the gov not private institutions. Also, unlike our gov where the representatives are constantly positioning themselves for re-election, the communist party of China is a bit more unified in their approach to long term planning. I fully agree with you on China's position. My question though, is why would the US put ourselves at such a risk? Did they sell bonds with the intent to defraud China by selling them debt they intended to devalue or default on? Are they trying to instigate war with China, or are they just incompetent?
2009-04-21 10:51:26
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Trappped Posts: 73 Incept: 2009-02-13 Banned
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Karl, I'm sorry, I have to disagree with you on this one. I agree with you 99% of the time, but here it's like blaming the loan shark for lending money to the drug addict who bought heroin from the loan shark's friend. We can boycott Chinese goods, then the rest of the world can boycott our goods, that's great ! That would be like the addict sobering up. But I don't think we should blame the Chinese for American's stupidity to borrow and spend beyond one's means and fail to recognize the law of exponents.
2009-04-21 10:52:02
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Genesis Posts: 71421 Incept: 2007-06-26
KD^2
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Trapped, it is the EXTORTION that I object to.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-21 10:52:52
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Trappped Posts: 73 Incept: 2009-02-13 Banned
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Karl, I think that's too strong of a word here. I reread the Ticker and I would do the same thing if I was the Chinese holding Billions in Debt that was about to become worthless because of Ben's addicition to easy money policies. This is like telling the spoiled child to shape up or else..... I see nothing wrong here. As a matter of fact, I see the silver lining that maybe once the Bond markets go BOOM, maybe America will wake up and finally start doing the right things instead of constantly kicking the can down the road !!
2009-04-21 10:58:52
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Taint Posts: 165 Incept: 2008-12-24 texas
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We have a perfect **** storm brewing here....many insolvent banks (likely) and deficit spending under siege. The markets cannot respond favorably to this....boom goes the pension plans. Can't imagine this pace holds up more than a few more months before something tips. God Bless America!
2009-04-21 11:00:19
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Genesis Posts: 71421 Incept: 2007-06-26
KD^2
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Nope. Slithering around in the dark of night threatening a sovereign over the acts of a PRIVATE COMPANY is outrageous. Citibank is NOT the US government. Nor are any of these other banks. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-21 11:00:43
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Oxfordrick Posts: 2685 Incept: 2007-07-09
san diego
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If we use Chinese money to bail out our oligarchs then play them as bagholders why shouldn't they invest fresh money elsewhere?
2009-04-21 11:01:04
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Genesis Posts: 71421 Incept: 2007-06-26
KD^2
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They should. Oxford, I think they should PUBLICLY confront us if they're going to do this and we should have a PUBLIC debate on it. If we're going to take it up the cornhole for THEIR BENEFIT then we should do that with full knowledge of the American People. Frankly, I don't think we should return to fiscal responsibility NOW which means I support telling them to get ****ed, but that's a debate we should have in the open. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-21 11:03:03
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Pelle031 Posts: 144 Incept: 2009-03-24
Philly burbs - PA
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Genesis wrote..it is the EXTORTION that I object to. agreed. I don't believe in 'boycotts' for the most part since I believe that negative goal clouds the consumer focus on the root of the problem which is obviously spending as a whole. Now, if everyone focused more on "buying locally", odds are very good that they'd have to work harder. This could effectively make the consumer shop smarter since that time and effort will allow the impulse to recede a bit maybe?
2009-04-21 11:06:20
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Oxfordrick Posts: 2685 Incept: 2007-07-09
san diego
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We used to have predominantly free traders on this board, there was discussion of the need to avoid "beggar thy neighbor" trade policies etc, times are changing. "Chinese Boycott" would make an interesting Poll topic, I'd post it but I'm a little fearful I wouldn't like the result!
2009-04-21 11:10:05
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Genesis Posts: 71421 Incept: 2007-06-26
KD^2
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Extorting the government to bail you out of an investment in a PRIVATE COMPANY IS BEGGAR THY NEIGHBOR Oxford.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-21 11:10:51
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Trappped Posts: 73 Incept: 2009-02-13 Banned
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Gen wrote: "Citibank is NOT the US government. Nor are any of these other banks." You sure about that ? Maybe they've been reading your Tickers. After all, we had the head of GS as treasury secretary when all these bailouts (300-1 opposed) started. The US gov't is very much in bed with the "private" banks. All that's left is the formal nationalization proclaimation !!
2009-04-21 11:12:07
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Skip Posts: 82 Incept: 2008-09-30
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Extortion is obtaining something through intimidation or coercion and that is what China is doing. Plain and simple "If you do "A" I won't "B". In this case if the gov devalues the currency (which we, our gov, and China knows must happen) China will stop buying debt. China knows that Obama needs to borrow a crap ton of money for his budget and they are the only nation with sufficient reserves to let him proceed on the spending spree.
2009-04-21 11:12:35
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