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Thread: The sky has finally fallen...
10-19-2010, 07:26 AM #392
Sad. The haze is back. Life is shorter by a few days in our lives perhaps.
10-19-2010, 07:57 AM #393
My friend, life is shorter as every day gone by.
10-19-2010, 09:45 AM #394
sad sad, I am sad.... so those younger ones are lucky. The older ones will reach the milestone first....Need some youth tables.. or potion.. lol.
10-21-2010, 08:11 AM #395
psi in singapore is at 107. Damn...
10-29-2010, 02:20 AM #396
11-02-2010, 10:02 AM #397
Change I can believe in...
11-02-2010, 10:16 AM #398
Business as usual, my guess.
11-03-2010, 03:56 AM #399
but hey, at least your state's result fared a bit better..
CA, hmm..i have a funny feeling it's going down the gutter even more with the same fella, being the gov. again, who brought the current state debt through the unions he created...tax hike is looming..
then the real show will begin..
11-03-2010, 02:48 PM #400
I am sorry Master chris,
For CA, the south state that I love, the north I hate, at lease 1 witch has less power in DC.
Sales tax going up or income tax? Or just file for bankruptcy?
When is the drive to recall brown to start?
Thank god I did not vote in CA and I did not cause the problem. Don't blame me.
Have a nice week.
11-03-2010, 03:45 PM #401
As for which tax he'll raise, i think he'll raise the sales tax (just like he did when he was mayor of Oakland, where he raised taxes on everything from parking to phone bills; some say Oakland is the "armpit" of CA). And looks like based on the propositions results, Gov. Moon Beam (nickname of the new CA gov.) will likely raise the property tax/repeal prop. 13 (law which protects homeowner from rising property tax, remember he was opposed to it back then before it was passed).
No, you didn't cause the problem and even if you had voted, your vote probably wouldn't matter as CA is a solid blue state..
Anyway, no matter who won the CA gov, it won't be easy and the state's debt & deficit will be hard to solve. Here's an interesting read abt the challenge the new CA governor has to face:
Last edited by ctjcad; 11-03-2010 at 03:51 PM.
11-03-2010, 04:23 PM #402
BO = Keynesian?..
..this is for master silentheart, just want to share a bit of laugh (taken at a recent rally).."What proof do you want? he was born in Hawaii!"...hope you have a good chuckle..
(Keynesian economics is an economic theory that says more govt. spending/intervention in the economy/marketplace, the better it is for the economy's growth and stability)
Last edited by ctjcad; 11-03-2010 at 04:25 PM.
11-04-2010, 04:13 PM #403
11-30-2010, 03:55 PM #404
CHN and Russia quit dollar..
..master silentheart, is this temporary or is this the beginning of the end??...more U.S. dollars circulating in U.S. = inflation?..
China, Russia quit dollar
St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.
Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.
"About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.
The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.
The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said.
"That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries," he said.
11-30-2010, 06:41 PM #405
how about wikileaks going to expose a big bank in usa?
12-01-2010, 09:09 AM #406
Looks like everyone is looking for him. They are panicking?
12-01-2010, 11:54 AM #407
Dear Master c,
Regarding your question on the article of china is proposing the currency rate for china and Russia, here are my response.
All talk and no play.
Given that both currencies are traded on open currency market. If 2 countries set the exchange fixed rate themselves. It will lead to arbitrage and for most of the bank and currency trader has almost no barrier on the market, they can and will make hundred of millions (if not in $B) in very short time and drain any currency reserve the country in weaker position until the new rate has been set. Another problem is the standard currency used in commodity trade is USD. If they want to peg against gold, you will need to set up the reserve in gold and then you are back on the gold standard. Either way, not going to happen.
12-02-2010, 01:11 AM #408
Already almost 10 countries have signed currency swap agreements with China and the amounts involved are staggering, not peanuts.
Russia, Argentina, Singapore, Malaysia, Hong Kong, Indonesia, South Korea, Brazil, Belarus and perhaps a few other countries have signed currency swap agreements with China.
Currency swap agreements with China are a precursor of the Chinese Yuan eventually becoming another reserve currency as China slowly works to making the Yuan fully convertible.
Longer term, as the Yuan becomes a more important reserve currency the US will be unable to simply print paper money for use in uneconomic applications like wars, which at present cost the US nothing because of its abuse of "quantity easing" measures-resorting to the printing press.