American Economics Thread


OppositeDay

Junior Member
Registered Member
Agree, US is a credit card country. Even if those people that has $$$, they will still will use credit to pay for stuff. There are too many American living on pay checks by pay checks.
Yes, I use credit card for everything. The credit card industry is basically a regressive redistribution scheme. The poor are made to subsidize those who can pay their full balance each month. Well at least some consumers get useful perks out of the American system, unlike the Ant system where the poor are made to subsidize Jack Ma.
 

hashtagpls

Junior Member
Registered Member
That credit aint free; it's the developing world and countries like china which buy US Treausires which subsidise all of that credit. The alternative is hyperinflation
 

ansy1968

Senior Member
Registered Member
I read a couple of stories in the media a few months ago that people in Florida were reputed to have been filling up their gas tank to full to go line up at the food bank.

The food bank in America story is interesting because, well, it is an economic story, such numbers probably not reflected accurately in the official story they want us to believe.

What happens to labour in the developing world? The labour market is characteristic by unemployment and under-employment.

When we see bread lines, we can safely assume one or the other is in effect.

Also, what about the future if the robots are coming for our jobs? The third world labour conditions, affectionately known as shit holes countries by our most favourite president, of unemployment and under-employment has the real potential to be a permanent feature of the system.

The most curious part of this picture, it appears the 1% not bothered by this at all, perhaps the reason being the 99% have no clue what is going on.

Remember the Occupy Wall Street Movement? I remember those protestors so vividly, because they knew they had to protest, but could not explain anything.
Hi horse,

What is so worrisome as you said is the elites doesn't care, well they control the media and they gaslight Trump and his supporters, fomenting this culture war.

Horse had it occur to you that there might be a huge migration crossing to Canada from the US:eek:, your version of Mexico, I think you may need a wall ASAP ;););)
 

horse

Junior Member
Registered Member
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Its time for China so start unloading those forex reserves before it become worthless paper and buy more gold or commodities
The financial crisis of 2008 precipitated by the Lehman Brothers collapse was the real game changer, that planted the seeds that will eventually change the world.

That financial crisis, and it remedy which was Helicopter Ben doing his Quantitative Easing thing, exposed the system for what it was, which was the financial shenanigans of Wall Street introduced systemic risk into the entire financial system and economic system, and the cure of QE probably is worst than the disease.

No clean up of Wall Street has ever happen. Them bankers and traders still playing the same game. It was not like how the CCP postponed the Ant Financial IPO. At least the CCP will try to do something about such unusual risks, but not in America.

No way Jose.

The USA survived this 2020 financial crisis, but just barely. The next crisis who knows what would happen, the US Dollar could collapse. But crisis like these do not come around often. Give it 5 to 7 years before we start seeing clues of when another one can hit.

There is time to adjust whatever you want to adjust.
 
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horse

Junior Member
Registered Member
Hi horse,

What is so worrisome as you said is the elites doesn't care, well they control the media and they gaslight Trump and his supporters, fomenting this culture war.

Horse had it occur to you that there might be a huge migration crossing to Canada from the US:eek:, your version of Mexico, I think you may need a wall ASAP ;););)
Hi ansy1968,

Wow brother, it is like you live in the house.

The other day, just before the US election, the wife saw the Americans rioting in the streets, and the rioters, she saw black people on TV, were threatening to take the riots up town.

That got my wife thinking. She said you think that they will travel here too and riot here?

That day, it happened to snow a little. I thought about her question for a second, and said that the Americans will not be coming up here, it is too cold. They don't like snow or the cold. She was not too convinced, but I remember something else, as the pandemic was still raging. So I said that the border is still closed, they cannot get into the country anyways.

She said, good.

I thought that the fact that the US-Canada border is still closed is kind of funny. Not sure why. It has been closed for months since the spring, and only essential travel is allow, such as trucks bring fresh food.

Anyways, the wife liked that answer more, of how the authorities keep the border closed to Americans, and any potential rioters who try to enter from America. Chinese people naturally should have a thing for authorities and borders I guess.

One question remains. Not sure what the wife meant when I said the border was still closed due to the pandemic, and that she said that was "good." Did she mean it was good that no rioters will be allowed across the border, or did she mean it was good that there was a pandemic down there. I don't know.

Too afraid to ask.

Anyways ... ...

:D
 

ansy1968

Senior Member
Registered Member
Hi horse,

We the Chinese are all the same, we love our wife so much!!!! ;) Like the time I introduce my would be wife to my mother , my mom first word to me in Chinese is "went with wife" with a bitter smile:) . Now I know what she meant and I just go with the flow, I didn't realized how dominating Chinese wife can be.:cool:
 

localizer

Captain
Registered Member
The financial crisis of 2008 precipitated by the Lehman Brothers collapse was the real game changer, that planted the seeds that will eventually change the world.

That financial crisis, and it remedy which was Helicopter Ben doing his Quantitative Easing thing, exposed the system for what it was, which was the financial shenanigans of Wall Street introduced systemic risk into the entire financial system and economic system, and the cure of QE probably is worst than the disease.

No clean up of Wall Street has ever happen. Them bankers and traders still playing the same game. It was not like how the CCP postponed the Ant Financial IPO. At least the CCP will try to do something about such unusual risks, but not in America.

No way Jose.

The USA survived this 2020 financial crisis, but just barely. The next crisis who knows what would happen, the US Dollar could collapse. But crisis like these do not come around often. Give it 5 to 7 years before we start seeing clues of when another one can hit.

There is time to adjust whatever you want to adjust.



Right now I worry more about RMB, I don’t want China to go down the same route as the US. This means:
No uncecessary wars- Check
No counterproductive regulations
No bailouts of failing companies
 

gelgoog

Senior Member
Registered Member
...
Its time for China so start unloading those forex reserves before it become worthless paper and buy more gold or commodities
Commodities I think. Gold is expensive right now. While US businesses are basically not able to sell product because of mass of unemployed people. Just don't make the same mistake the Japanese did in the 1990s where they bought US real estate and other non-productive investments.
 

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