Interesting interview on the global economy

[TOM4CWB]

Liberty/Parsley;

This is going to work... ?

Oil not priced in US$$$?

OK... since even the Ruskies and Chinese base their currency on the US$... where do you actually think this is going... but to an international currency... with global status.

Commodities... prices will be fixed... and this will bring about shortages like we have never seen before!

We have just begun the journey!

[vagabonddreamer]

look to the IMF...vs

[cottonpicken]

The pricing of oil and everything else in dollars is extremely important to the us.It creats a demand for dollars,and some say the us will go to war over it.One of the reasons the dollar has difide gravity for so long.

[jensend]

the us may go to war over the supremacy of the dollar but it won't help, people will just die but the greenback is a fiction anymore. the rest of the world will decide if the dollar remains the international standard and nobody is feeling very generous after eight years of totally screwed foreign and economic policy. the usa is out of ammunition socially, economically and militarily.

[Fransisco]

Not to worry, they now have Barack the saviour to make things right.

[parsley]

jensend,

For all your despisals, and berating the USA:

1. Socially
I don't think so. Would you sooner have China set up nuclear weapons on Labrador? And you speak manadarin? C'mon. We are neighbors in more than location.

2. economically

China has a lot, lot, lot of poor people. Poor minded. They think poor. They wait to be told what to do. Much the same as East Berlin. It will take generations to dilute that mindset let alone change it. We are a G8, and the mindset is a can-do. It is the most important characteristic for creating wealth.

3. militarily
G'8's are not hopeless. Neither is Israel. And you're a bit feisty, I've noticed! I don't think you will line up G'8's and put one bullet through 10atatime. An we do have strong allies. Pars

[jensend]

parsley i didn't say the americans are weak. they are not the dominant power they once were and are fading if you do any amount of reading. they have alienated all their allies except for whatever lapdogs they can intimidate. socially i doubt the americans have been so divided since the civil war. relatives were down at their wintering refuge for the american election and they said emotions were really running high and racist comments weren't uncommon. economically the usa does not have much influence over where their dollar will trade. interest rates at zero leave them no room to maneuver and it looks like a lot of american wealth offshore has been liquidated and the proceeds repatriated so it leaves the dollar looking pretty heavy (especially with inflating the money supply to bail out any and every one). militarily the only bullet they have left is the nuclear option and even harper might be offended if that's used. they are stretched thin so n. korea and even iran have more leeway to operate. israel is a loose cannon. if the israelis decide to go nuclear their nation will be wiped off the map in a month. they are a small enclave amongst enemies they have done their best to antagonize (i'm sure you'll disagree but get out and travel a little). in short the america of today is not the america of the sixties.

[cottonpicken]

More people speak english in india than the us,china soon to follow.

China saves,produces,lives frugaly,as oppossed to us glutens.

China does not need the us in the longer term,just like the us didnt need them at the start.

They have over 4 times the number of people and most are young.

There are another 2 billion people in the area.

They skipped the industrial revilution and have all the latest technology.

It is now considered "glorious" to obtain wealth there.

Their market system is much more capitalist than ours.

If every household went out and bought a toaster tomorrow there would be no more copper.

The titanic wasnt suppose to sink either,and if you think there are enough life rafts to go around with this situation,think again.

But commoditie rich western canada is poised to benefit.

I said this years ago,but i know us westerners will be flying into luxury ports of call off the great lakes while bilingual lawyers and bankers out of toronto and montreal take our bags to our rooms that were once theirs.

Dont believe me?

http://www.leaderpost.com/Three collapse would catastrophic Minister/1081502/story.html

Ontario is toast.

The situation is like a pressure cooker,years and years of "fake" wealth have built up to produce a powder keg situation.

Does anyone here ever stop and think about the local neighbour who "just couldnt make a go of it",but produced enough calories to feed a city every year worked like a dog,and risked his and his families capital?

And by contrast some pencil or paper pushing relestate agent or car salesman makes a fortune?

The pendulum has swung and has just changed directions.

[Fransisco]

In some ways China is more capitalistic, in others not so much. They have yet to adopt the rule of law, and there is corruption everywhere with public officials. This is a potential powder keg with a down turn in the global economy. It's a lot harder to grease your local beaurecrats during a recession and more people will be asking why do we have to do it in the first place.

[jensend]

http://ca.youtube.com/watch?v=ljbI-363A2Q

if the rate of change keeps accelerating as indicated in this video i would expect things to eventually get pretty chaotic. are we getting close yet?