U.S. on borrowed time as China joins the slowdown
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Oscar Namechange
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U.S. on borrowed time as China joins the slowdown
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At the going down of the sun and in the morning, we will remember them. R.L. Binyon
U.S. on borrowed time as China joins the slowdown
Tease! :wah:
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
U.S. on borrowed time as China joins the slowdown
It will be an interesting time for China who has embraced the open market philosophy.
1.5 million University graduates in China enter the job market each year. They require ongoing 8% growth to sustain employment.
There have been riots and trouble in some areas where business have just closed down with no warnings to staff. Bosses ‘disappear’ without providing payments to staff.
In some areas people are trying to unionize, which is being crushed by the government as the government sees themselves as the ‘protector’ of workers, so they are against unions.
It will be interesting when the culture they have been encouraging is to work hard and prosper, which is easy to do in good times, but it is now the expectation of the people, and the jobs are drying up.
I don't know about the 'US on borrowed time' stuff though.
1.5 million University graduates in China enter the job market each year. They require ongoing 8% growth to sustain employment.
There have been riots and trouble in some areas where business have just closed down with no warnings to staff. Bosses ‘disappear’ without providing payments to staff.
In some areas people are trying to unionize, which is being crushed by the government as the government sees themselves as the ‘protector’ of workers, so they are against unions.
It will be interesting when the culture they have been encouraging is to work hard and prosper, which is easy to do in good times, but it is now the expectation of the people, and the jobs are drying up.
I don't know about the 'US on borrowed time' stuff though.
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Oscar Namechange
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U.S. on borrowed time as China joins the slowdown
Scrat;1086240 wrote: Well the world is looking at the US in a different light and I suspect there is more changes to come. The EU, China, Russia and India do not have to deal with the US. There is a serious threat of the US becoming irrelevant.
As for the people of China a lot of them are leaving the cities and returning to the country from which they came. There could be trouble as the people that have no alternative will have few options, capitalism cares nothing for people.
I find it quite remarkable that three posts have come after i deleted the thread :wah:
The article i quoted was regarding the proposed massive bailout of the U.S. General Motors and Chrysler.
The U.S. has already borrowed trillions from china and next in the list ready to ever loan to the USA is Japan and the Uk through the oil states filtering their money through London and gordon Brown.
The US are already massively in debt to china yet they propose to increase the national debt with a further bailout for the car manufacturers.
I myself, can see no other way around this and the collapse of the US car giants will have a massive effect on Uk jobs.
However, it is right, when China's own economy is now floundering rapidly due to the West's credit crunch, to continue to bail out the US?
China's own people are already suffering with loss of production, manufacture and export.
Should the people of China pay the price for the US Bush Regime stupidity?
As for the people of China a lot of them are leaving the cities and returning to the country from which they came. There could be trouble as the people that have no alternative will have few options, capitalism cares nothing for people.
I find it quite remarkable that three posts have come after i deleted the thread :wah:
The article i quoted was regarding the proposed massive bailout of the U.S. General Motors and Chrysler.
The U.S. has already borrowed trillions from china and next in the list ready to ever loan to the USA is Japan and the Uk through the oil states filtering their money through London and gordon Brown.
The US are already massively in debt to china yet they propose to increase the national debt with a further bailout for the car manufacturers.
I myself, can see no other way around this and the collapse of the US car giants will have a massive effect on Uk jobs.
However, it is right, when China's own economy is now floundering rapidly due to the West's credit crunch, to continue to bail out the US?
China's own people are already suffering with loss of production, manufacture and export.
Should the people of China pay the price for the US Bush Regime stupidity?
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
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Oscar Namechange
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- Joined: Wed Jul 30, 2008 9:26 am
U.S. on borrowed time as China joins the slowdown
Scrat;1086279 wrote: Correct, what if China descends into civil war, chaos and is unable to back the US? America is already on a 2 legged stool and we know how vulnerable we are. So does the rest of the world.
If China were to halt the bailout again of the US, would Japan who are also feeling the pinch in their export market to the West, continue to lend?
Should China and Japan call in the debt now, how will the US deal with the situation?
The other option would be to go to the Saudi's as Britain has but would that be ethical to the US?
If China were to halt the bailout again of the US, would Japan who are also feeling the pinch in their export market to the West, continue to lend?
Should China and Japan call in the debt now, how will the US deal with the situation?
The other option would be to go to the Saudi's as Britain has but would that be ethical to the US?
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
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Oscar Namechange
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U.S. on borrowed time as China joins the slowdown
fuzzy butt;1086285 wrote:
it's funny you know, here in Australia we always know who has the money, because our stadiums are sold off to the highest bidder/sponser at any given time . We have two stadiums at the moment that have had so many name changes i can't keep up.............I also cannot pronounce the latest name it's Arabic I think.
I have to say that Australia could set many an example to Britain and America in economy. The impact of global meltdown seems to be affecting your country far less than here. Good on yer.
It's getting that way here too. I think the last to be sold out to the Arabs here was Manchester City. We too will have to learn that quaint old English football chant 'Your going home in a ***ing ambulance' in arabic.
Come to think of it, you could lend us a few stadiums ready for the great London opening of the Olympics after the Polish builders go on strike and is re-scheduled to open in 3012 instead. :yh_rotfl
it's funny you know, here in Australia we always know who has the money, because our stadiums are sold off to the highest bidder/sponser at any given time . We have two stadiums at the moment that have had so many name changes i can't keep up.............I also cannot pronounce the latest name it's Arabic I think.
I have to say that Australia could set many an example to Britain and America in economy. The impact of global meltdown seems to be affecting your country far less than here. Good on yer.
It's getting that way here too. I think the last to be sold out to the Arabs here was Manchester City. We too will have to learn that quaint old English football chant 'Your going home in a ***ing ambulance' in arabic.
Come to think of it, you could lend us a few stadiums ready for the great London opening of the Olympics after the Polish builders go on strike and is re-scheduled to open in 3012 instead. :yh_rotfl
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
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Oscar Namechange
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- Joined: Wed Jul 30, 2008 9:26 am
U.S. on borrowed time as China joins the slowdown
Scrat;1086494 wrote: The US doesn't intend to repay China. If you loan someone $100 they belong to you, if you loan them a million you belong to them.
Chinas enslaved by the US obligation.
How will the USA get out of not repaying China?
Especially if the failed economy means for once that China needs pay back?
Chinas enslaved by the US obligation.
How will the USA get out of not repaying China?
Especially if the failed economy means for once that China needs pay back?
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
U.S. on borrowed time as China joins the slowdown
oscar;1086506 wrote: How will the USA get out of not repaying China?
Especially if the failed economy means for once that China needs pay back?
Its not viable that the US would renege on the debt, China holds much of its foreign currency reserves in Dollars, if there was a problem, they could sell those government bonds and dollars and that would collpase the US currency. Also of course it would destroy the ability of the US to raise capital from other countries again as no one would trust the government any more. Just like a bad debtor with a normal bank. In general the result would be complete financial meltdown worldwide, beyond even what we are witnessing at the present.
So no, the US isn't going to unilaterally default in its debts; though there may be some moves made collecively by all major governments worldwide to do something about the financial problems we have, as they are so accute at the moment that only some form of massive concerted global response to try and basically "start again" from some sort of rationalized asset and credit base. I don't know how that will be achieved though.
Especially if the failed economy means for once that China needs pay back?
Its not viable that the US would renege on the debt, China holds much of its foreign currency reserves in Dollars, if there was a problem, they could sell those government bonds and dollars and that would collpase the US currency. Also of course it would destroy the ability of the US to raise capital from other countries again as no one would trust the government any more. Just like a bad debtor with a normal bank. In general the result would be complete financial meltdown worldwide, beyond even what we are witnessing at the present.
So no, the US isn't going to unilaterally default in its debts; though there may be some moves made collecively by all major governments worldwide to do something about the financial problems we have, as they are so accute at the moment that only some form of massive concerted global response to try and basically "start again" from some sort of rationalized asset and credit base. I don't know how that will be achieved though.
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
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Oscar Namechange
- Posts: 31840
- Joined: Wed Jul 30, 2008 9:26 am
U.S. on borrowed time as China joins the slowdown
Galbally;1086612 wrote: Its not viable that the US would renege on the debt, China holds much of its foreign currency reserves in Dollars, if there was a problem, they could sell those government bonds and dollars and that would collpase the US currency. Also of course it would destroy the ability of the US to raise capital from other countries again as no one would trust the government any more. Just like a bad debtor with a normal bank. In general the result would be complete financial meltdown worldwide, beyond even what we are witnessing at the present.
So no, the US isn't going to unilaterally default in its debts; though there may be some moves made collecively by all major governments worldwide to do something about the financial problems we have, as they are so accute at the moment that only some form of massive concerted global response to try and basically "start again" from some sort of rationalized asset and credit base. I don't know how that will be achieved though.
Who would have thought that America would ever come to this?
It was not too many years ago that America was envied throughout the world.. Particually in GB. We have adopted their life-style, their language etc etc and now the west is looking at America as the biggest failure, (not anti-american, merely an observation through press reports both sides of the globe).
The good i do believe has come from this meltdown is that America now see's that being the Maverick may not be the best way. We have our Euro critics but they are a soft mattress to land on. Good relationships with the saudi's has seen massive fiscal injection into London by Saudi. The Saudi borrowing in my view is a smart move. It's the richest state globally and un-likely to hit recession. China has always been too economically unstable to be in a position to inject such massive debt into America, a nation based on retail imort the same as us. Fluctuations in the market are too domineering for the economie's to ecer be stable.
If the falling £ against the dollar and euro has some benifits it is maybe we will learn the lessons to buy from home and not rely on cheap mass imports, thus putting vital investment back into the British economy.
So no, the US isn't going to unilaterally default in its debts; though there may be some moves made collecively by all major governments worldwide to do something about the financial problems we have, as they are so accute at the moment that only some form of massive concerted global response to try and basically "start again" from some sort of rationalized asset and credit base. I don't know how that will be achieved though.
Who would have thought that America would ever come to this?
It was not too many years ago that America was envied throughout the world.. Particually in GB. We have adopted their life-style, their language etc etc and now the west is looking at America as the biggest failure, (not anti-american, merely an observation through press reports both sides of the globe).
The good i do believe has come from this meltdown is that America now see's that being the Maverick may not be the best way. We have our Euro critics but they are a soft mattress to land on. Good relationships with the saudi's has seen massive fiscal injection into London by Saudi. The Saudi borrowing in my view is a smart move. It's the richest state globally and un-likely to hit recession. China has always been too economically unstable to be in a position to inject such massive debt into America, a nation based on retail imort the same as us. Fluctuations in the market are too domineering for the economie's to ecer be stable.
If the falling £ against the dollar and euro has some benifits it is maybe we will learn the lessons to buy from home and not rely on cheap mass imports, thus putting vital investment back into the British economy.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
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Oscar Namechange
- Posts: 31840
- Joined: Wed Jul 30, 2008 9:26 am
U.S. on borrowed time as China joins the slowdown
jimbo;1086831 wrote: yup we stole their English allright :yh_rotfl
Listen to the kids in the street Jimbo. There is more American slang than there is British.
Listen to the kids in the street Jimbo. There is more American slang than there is British.
At the going down of the sun and in the morning, we will remember them. R.L. Binyon
U.S. on borrowed time as China joins the slowdown
oscar;1086952 wrote: Listen to the kids in the street Jimbo. There is more American slang than there is British.
Is there coco ya big balloon. maybe in yer neck o the woods but nae in mine.
Is there coco ya big balloon. maybe in yer neck o the woods but nae in mine.