American Economics Thread

[Equation]

On a sweeter note: my favorite ice cream brand Blue Bell is BACK!

Please, Log in or Register to view URLs content!

 

[Bernard]

On a sweeter note: my favorite ice cream brand Blue Bell is BACK!

Please, Log in or Register to view URLs content!

I love blue bell. Honestly the highest quality/ richest flavored ice creams you can get! I read that Blue bell is only in 23 states but is the 3rd biggest icecream brand.

Please, Log in or Register to view URLs content!

 

[Equation]

Here is an interesting read.

I write to make a simple point about China-bashing. As a native-born Chinese-American, I hope we will remain true to our democratic principles. The Chinese government and Chinese businesses, which may well deserve criticism, are not the same as Chinese immigrants and their American descendants, who have made the choice to embrace this nation and its ideals.

China and Japan have alternated as the foreign enemy for America, even as we enter a Pacific era. The attacks on China for trade practices, ranging from antitrust and dumping violations to currency manipulation and disregard of intellectual property protections to corporate espionage, are reminiscent of similarly hyperbolic criticisms of Japan a generation ago. China is said to be set to invade.

Since Japan entered an economic slump from which it has not recovered, we have forgotten the ugliness of these sorts of sentiments. But "Japan Inc." was once said to be ready to take over the world, buying American landmarks, sports teams, and brand-name corporations. In the

Please, Log in or Register to view URLs content!

, the Michael J. Fox character, Marty McFly, is fired in 2015 by

Please, Log in or Register to view URLs content!

His humiliation is complete, because he reported to and then is abused by an Asian who is younger than he is.

That theme, "back to the future," is appropriate. There has an abiding fear of the rise of the East, the decline of the West, ever since

Please, Log in or Register to view URLs content!

In that formulation, Asian Americans embody both negative trends.

Other Americans have not been treated similarly.

Please, Log in or Register to view URLs content!

is an example. He was a high-profile businessman-pundit;

Please, Log in or Register to view URLs content!

. The straight-talking, tough, cigar-smoking, confidant chairman of automobile manufacturer Chrysler was prideful about ethnicity. He is Italian in descent. His

Please, Log in or Register to view URLs content!

mentioned his youthful embarrassment of explaining what pizza was, when it was an ethnic dish not yet ubiquitous through speedy delivery. Notwithstanding his affiliation of his corporation with his heritage (

Please, Log in or Register to view URLs content!

), it would be laughable if a journalist or shareholder were to take him to task over Mussolini and Fascism or the Mafia and corruption.

He was not at fault. He is able to revel in Italian nationality without compromising his American citizenship. That is as it should be. It is no slight of Iacocca to observe that an Asian American counterpart seems somehow preposterous. (During the Great War, it should be noted, "ethnic" Americans faced considerable discrimination.)

Likewise, the acquisition of Chrysler by Daimler and then Fiat in succession, provoked no concerns about national security. Yet those companies originate from nations, Germany and Italy, respectively, that with Japan, constituted the "Axis" in World War II. You can bet if Chrysler were sold to a Japanese or Chinese conglomerate, the reaction would diverge.

I want to be clear. I am an American. As an American, I share concerns about the rise of China -- if anything, I have more at stake in ensuring my family's decisions over three generations do not prove to be mistaken. And as an American, I deserve the same respect as other Americans -- accepted as an equal even if honoring my ancestry.

Please, Log in or Register to view URLs content!

 

[Miragedriver]

Wait....I thought it was the Dollar?

 

[Blackstone]

Wait....I thought it was the Dollar?

It's a case of China putting the cart before the horse. The RMB might or might not be part of IMF's basket of currencies, but dollar will remain king for many more decades to come.

 

[broadsword]

Please, Log in or Register to view URLs content!

May be 2016 instead.

 

[solarz]

Here is an interesting read.

Please, Log in or Register to view URLs content!

This is one of the reasons that I am proud of being Canadian. Sure there is also China-bashing in Canada, but there is no implied question of loyalty. I am Canadian and I am Chinese at the same time, and neither needs to take precedence over the other.

 

[Jeff Head]

In any nation with millions of people and the kind of diversity that exists in Canada and the US, you are going to have both bashing and loyalty questions by some.

I have seen it on occasion in both places...but also in both places, it is an absolute very small percentage of people who do so.

There may be some areas where it is more prevalent than others in both countries.

I have known many Chinese Americans and Chinese Canadians. I have never thought to look down on them, or question there loyalty in the least, and have developed some very good, close friendships with people of all races and ethnicities as a result. I was raised to give anyone the benefit of a doubt. Unless someone gives me a reason to do otherwise, that's what I do...and it's what most people I know do.

But guys...all of this is social discussions...this is an economic thread.

Let's leave this type of thing off.

 

[Equation]

Oooo...Volkswagen is in trouble.

The U.S. Environmental Protection Agency (EPA) said on Friday Volkswagen could face penalties of up to $18 billion for cheating emissions tests on some of its diesel cars.


The story has sent shockwaves through the car market, with dealers in the United States reporting people holding back from buying diesel cars and "#dieselgate" trending on Twitter.

Volkswagen said on Tuesday it was setting aside 6.5 billion euros ($7.3 billion) to help cover the costs of the crisis.

But some analysts are skeptical that will be enough, with the company disclosing that 11 million of its cars were fitted with Type EA 189 engines that had shown a "noticeable deviation" in emission levels between testing and road use.

Please, Log in or Register to view URLs content!

 

[Jeff Head]

Oooo...Volkswagen is in trouble.

They programmed the vehicles to release the proper emissions when it was in a diagnostic mode where emission controls were checked.

Then, in normal operations, it was programmed for better performance, allowing 40% more emissions to get the performance.

They advertised a diesel engine, that had the tight emissions controls but much better performance...and that is exactly how the vehicles would test. But it was a lie. A big lie.

They will have to pay big times for that.

The CEO resigned today,.