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| Threatening protectionism? | |
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| Tweet Topic Started: Nov 13 2010, 05:10 AM (149 Views) | |
| Mikhailoh | Nov 13 2010, 05:10 AM Post #1 |
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If you want trouble, find yourself a redhead
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From Obama's remarks abroad..
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Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
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| Axtremus | Nov 13 2010, 05:23 AM Post #2 |
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HOLY CARP!!!
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Obama gave sound advise. Your partisanship has led you read protectionist sentiment in Obama's statement where there is none. Imbalance of trade cannot go on in perpetuity. It is generally a better long-term strategy to develop the domestic market than to rely heavily on foreign markets. |
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| Mikhailoh | Nov 13 2010, 05:28 AM Post #3 |
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If you want trouble, find yourself a redhead
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No partisanship at all. I was asking a question. Your partisanship leads you to assume that my partisanship is in play. Put down the pom-poms, Ax. Even the Democratic senators say he doesn't know what he's doing. http://hotair.com/archives/2010/11/12/joe-scarborough-top-senate-dems-have-told-me-privately-that-obama-doesnt-know-what-hes-doing/ |
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Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
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| Axtremus | Nov 13 2010, 05:42 AM Post #4 |
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HOLY CARP!!!
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Sure ... you could have worded it: "Sound advise?" "Sensible statement?" "Fair assessment of the risk?" |
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| Klaus | Nov 13 2010, 05:56 AM Post #5 |
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HOLY CARP!!!
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But not when governments have to make unreasonable debts to "develop" the domestic market - and this is exactly what Obama wants those countries with successful export industry to do. Obama wants to make the world believe that what is good for America is good for them. It won't work. And the reason why the economy in the US is not doing so well is in the US, not elsewhere. |
| Trifonov Fleisher Klaus Sokolov Zimmerman | |
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| Mikhailoh | Nov 13 2010, 06:04 AM Post #6 |
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If you want trouble, find yourself a redhead
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BS, Ax. It sounds like he is threatening protectionism. China has a huge domestic market for their own goods and their exports are around 37% of GDP. It is the US whose exports are the lowest. Take a look at this interesting Google app and you'll see our European friends' exports are far larger as % of GDP than China's Google Public Data - Exports as a Percent of GDP I'd love to hear the response if our exports were way way up and someone told us we needed to curtail them. |
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Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
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| Piano*Dad | Nov 13 2010, 06:50 AM Post #7 |
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Bull-Carp
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And it doesn't matter that the second largest economy in the world essentially pegs its currency to the dollar? |
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| Klaus | Nov 13 2010, 08:03 AM Post #8 |
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HOLY CARP!!!
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Well, it certainly has an influence, but I don't think things would change fundamentally if they'd increase the value of the yuan a bit. If the yuan were 10% higher, would the exports of the US to China increase dramatically? My guess would be: No, not significantly. Also, it is rather hypocritical of Obama and others to accuse other countries of currency manipulation when the US is itself at the forefront of currency manipulation. |
| Trifonov Fleisher Klaus Sokolov Zimmerman | |
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| jon-nyc | Nov 13 2010, 08:05 AM Post #9 |
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Cheers
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I don't see it that way, its part of an ongoing campaign about reducing imbalances that pretty much everyone agrees are not sustainable. The preferred way to deal with it would be through appreciation of the Renminbi, not through protectionism. |
| In my defense, I was left unsupervised. | |
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| Klaus | Nov 13 2010, 08:09 AM Post #10 |
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HOLY CARP!!!
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What about dealing with it by stopping the US consumer from living on credit
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| Trifonov Fleisher Klaus Sokolov Zimmerman | |
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| Mikhailoh | Nov 13 2010, 09:15 AM Post #11 |
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If you want trouble, find yourself a redhead
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There. Much better.
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Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
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| Klaus | Nov 13 2010, 09:44 AM Post #12 |
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HOLY CARP!!!
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Well, if the government lives on credit, then the consumer lives on credit as well, whether he/she wants or not. So your change doesn't make much difference. |
| Trifonov Fleisher Klaus Sokolov Zimmerman | |
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| Piano*Dad | Nov 13 2010, 04:40 PM Post #13 |
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Bull-Carp
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Agreed. Devaluing the dollar simply devalues the Renminbi along with it, which pisses off Europe. The flip side of "we're addicted to credit" is "they're soaking up dollars in order to keep their currency from appreciating." In the long run, if a country wants to artificially subsidize the consumption of another country, a good response is to say "thank you." But in the middle of a severe recession, the Chinese policy is beggar-thy-neighbor. It will stop, one way or another. |
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| Red Rice | Nov 13 2010, 06:54 PM Post #14 |
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HOLY CARP!!!
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Pretty much the theme of the recent G20. |
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Civilisation, I vaguely realized then - and subsequent observation has confirmed the view - could not progress that way. It must have a greater guiding principle to survive. To treat it as a carcase off which each man tears as much as he can for himself, is to stand convicted a brute, fit for nothing better than a jungle existence, which is a death-struggle, leading nowhither. I did not believe that was the human destiny, for Man individually was sane and reasonable, only collectively a fool. I hope the gunner of that Hun two-seater shot him clean, bullet to heart, and that his plane, on fire, fell like a meteor through the sky he loved. Since he had to end, I hope he ended so. But, oh, the waste! The loss! - Cecil Lewis | |
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| Piano*Dad | Nov 13 2010, 07:06 PM Post #15 |
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Bull-Carp
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The NY Times gets it: Now, Will China Get It? ... and if they don't, Krugman's unfortunate import tariff proposal likely will be the consequence. |
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