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Chinese Think Tank Implies America May Be Falsifying Its Accounting, Says US On Way To Default
Joe Biden came to China, saw, and failed to conquer the locals' ridicule. Punctuating just how "effective" Biden's visit to China was in order to "reassure that the US is solvent" (no seriously, that;s the name of the article) is a just released article in the Securities Times by Wang Tialong, member of Chinese think tank Center for International Economic Exchanges in which he went on to blatantly say that "The U.S. may be on its way to default on its debt despite the U.S. government's ability to print more money, a Chinese think tank researcher said Monday." Now this is nothing new in the escalating war of words between the two countries, although increasingly China appears to be attacking the primary loophole that defenders of the unsustainable US debt use, namely the fall back to the USD as a reserve currency. Wang went on further to implicitly accuse the US of fabricating economic data: "There is also no way to punish the issuer country if it falsifies its accounting and there is no way to restructure the issuer either, Wang said." Well, when China accuses the US of "falsifying accounting" you know you have hit rock bottom.
From Dow Jones:
The U.S. may be on its way to default on its debt despite the U.S. government's ability to print more money, a Chinese think tank researcher said Monday.
There is no guarantee for sovereign debt, which increases the risks the lenders face, said Wang Tianlong, a researcher at the China Center for International Economic Exchanges, a think tank supervised by the country's economic planner, adding that the issuer could be more careless in using the loans.
In the short term, the U.S. doesn't have much ability to reduce its deficit, Wang said in an opinion piece published in Securities Times. He added that the U.S. lacks the political system to guarantee that it will not default on its debt.
There is also no way to punish the issuer country if it falsifies its accounting and there is no way to restructure the issuer either, Wang said.
Wang's comments come after the U.S. Vice President Joe Biden said Sunday the U.S. "never will default" on its government debt and reassured Beijing that Chinese investments in the U.S. are safe.
Slowly, surely, China is realizing that the endgame is nothing short of out of control debt inflation, which is precisely what having no way to "restructure the issuer" means. That plus sending the US to bankruptcy court may be somewhat problematic. It also means that Chinese holdings of US debt will be increasingly worthless, and its population increasingly stabby as the price of hogs resumes its record climb. The only alternative is for the CNY to float and for the Chinese, Russians and Germans to say enough to this broken economic model and launch a gold (and other hard asset) backed currency. The only question is when.
h/t London Dude Trader
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Funny when the folks that strictly adhere to Chinese Regulatory Accounting Principles (CRAP) accuse us of the same. Not saying they are wrong, but c'mon man! Oh, totally bullish.
re post from Bloomberg news
Wall Street Aristocracy Got $1.2T in Secret Loans QBy Bradley Keoun and Phil Kuntz - Aug 21, 2011 7:01 PM ET
http://www.bloomberg.com/news/2011-08-21/wall-street-aristocracy-got-1-2...
That's a ridiculous sum, and to think those banks would have failed without it. Disgusting. They should have.
the very notion that "mark to make believe" is a reasonable way to account for anything, rather than the actual market price (if there's any bid at all), indicates how entirely irrelevant any of these stats are anyway. rickards has a good interview at goldmoney's site; one of his observations was that if all the financial institutions of the world made a reasonable accounting of their combined books, the world would be insolvent, so all of these shell games are really moot anyway. it's just a matter of when everyone else notices that, too.
So instead of the natural gradual decay, this will go down like Enron.
Fast, spectacular and with many casualties.
+1
The only good news in this mess is, the Chinese get back what they deserve: Nothing, but worthless paper. LOL
Excuse me Mr. Kettle but it's Mr. Pot on the phone...he's just calling to remind you that you're Black.
hey zh how bout some bigger or clickable avatars since y'all are upgrading things?
i cant even read gibu's and you definitely need too see my golden ass in all its glorious detail.
When I read the news that Biden went to China to "reassure" them that the US was not going to leave China high and dry, my eyes rolled. Who in their right mind would send such a serious fuck up like Biden to China? Even Timmah knows how to create a more truthfull sounding lie than Biden!
Is Obama the guy that sent Biden? Probably. Just shows how out of touch Obama is with where the nation is. Wow.
You guys are still believing Obama is trying to improve America. What will it take to finally see him for what he is?
Indeed.
Unfortunately Obama misplaced his magic wand.
Obama can only "fundamentally change" America after the current system is overwhelmed
10 The thief cometh not, but for to steal, and to kill, and to destroy:
John 10
King James Version
Joe Biden: "I am a Zionist" | Wake Up From Your Slumber
savethemales.ca - Obama's Jewish "Irish" Grandfather
when's the last time the self chosen didn't defraud everything in sight?
Confucius say, "Bank that loan one thousand dollar make problem for man, bank that loan one billion dollar make problem for bank."
Back when Confucius said that, a billion dollars was a lot of gold-backed currency. ;-)
I doubt Biden went over there to reassure, but rather tell them hey this is the game and we own it. We have told you over and over to float your currency and if you don't there is a matter of possible default or we could continue to print money and cause inflation while devaluing your currency.
I think this about sums up the situation nicely. China isn't mad that we're inflating our debt, they're mad that we're devaluing the Yuan. LOL
I don't think that anyone is going to be conned anymore.
Maybe Obama sent Biden in order to make him look bad, to make sure Biden wasn't strategizing to have Obama off'd? (meaning, if Biden did end up sitting on the thrown NO one would really recognize him as legit [not like it was hard to do from the start, but this pretty much seals it]).
But this is all meaningless and we know it. It's always Kabuki theatre when things are irrevocably collapsing.
An old Chinese proverb
"A lie told 10,000 times becomes the truth"
Wang Long Dink Tank
HONKIE TALK by a dumb HONKIE with a 2 inch dick.
I'm so glad we handed China our economic prosperity on a silver platter. They are great "allies."/sarcasm.
Economic prosperity is transitory, it's not a thing (not a permanent state). All empires rise and fall,probing into why is usually meaningless (as EVERYONE refuses to note that it's growth that predestines it).
Empires usually voluntarily hand over whole industries along with the technology to reproduce the same goods that they contracted other countries' companies to produce just to receive it cheaper? Good to know.
Fuck the Chinese - they knew what they were getting into - all part of their '50 year plan'. If it now backfires I am not going to shed any crocodile tears.
Let's fuck you first, asshole.
"Paddle faster.....I hear a banjo..."
Lol
Here's how: mint a 1ozt. silver coin with "1 Trillion United States Dollars" on it and let Joe Biden show it to them. See! Your money is safe, we made a very special coin just for you!
We have every intention of reimbursing you.
http://www.youtube.com/watch?v=7GSXbgfKFWg&feature=related
USA.... Fabricate??
Falsify numbers??
I am shocked....
China really should apologize for this...
China, America, it's not "American Idol Housewife of New Jersey." No, bigger, better, Simon would be proud.
Surreality TV:
It's Kabuki theater.
Megashark vs. Crocosaurus...lol
Its just not true....Ben and Turbo took Act. I & II, they know how to use T-accounts, they both answered the gold standard "assets = equity plus liabilties" maxim correctly.....these are just lies, damn lies I tell you!
Way to go Wang fuk dong, took ya 20 years to figure out the Fed lies......any other revelations you want to shine a little luminescent disinfectant on? Fucking retard chinese inbred asshats getting their 15, whatever.
+1
.
Can we get a Jeethner/Biden China comedy tour?
Add the Bernank and we'll have a 3 Stooges lineup.
Talk about some knee slappin Chinese fun.
Falsification would require a high degree of sophistication and cunning. It's more likely simple errors from not knowing basic accounting principles.
Stop projecting - thanks in advance
You know what is not falsified my Chinese friends.. The numbers on the t-bills you hold. They will be wiiped off our books soon. Good luck with food production and the mob after that..
the pot should not call the kettle black
china is the biggest ponzi scheme on the planet
So, you're saying that they're dealing with bigger numbers than the US?
Oh, and unlike the US, China is actually manufacturing stuff (yeah, it might be junk, but at least it's REAL junk, not virtual makebelieve junk like the US produces).
P.S. Yeah, bright one, it's ALL a ponzi- perpetual growth on a finite planet- like anyone needs to know anything more than this to figure it out!
This is kinda why the Chinese are on the losing end of this trade. They are making real junk, and trading it for imaginary junk.
I think Biden went to China to reassure China that the US was not going to undercut them with the new-new-deal to save Western banking, which is soon-to-be-announced as an emergency measure. Their cooperation is needed, and a high level visit shows appropriate respect.
Sending our boy Biden to reassure the Chinese; may as well send our boy Pee Wee Herman to the biker bar to show them we mean business.
http://www.youtube.com/watch?v=UVKsd8z6scw
Exactly; he should have offered to play chess with them; then they really would have been impressed. the chinese have a higher normalized IQ score than white Europeans; and as for Africans; you really don't want to know. It's an example of "Reality"; as in "Reality, you couldn't handle reality".
I don't "think" any one group has an IQ higher than the Jews. Oh; I am not jewish, just calling them as I see them.
The Poles, bitchez. Or anyone around the Baltic. Rampant IQs.
Ashkenazi Jews are smart but Sephardic Jews are pretty dumb. On the whole the iq of Jews is about 100, about the same as that of white gentiles.
Dolphins plus they use less oil
If you have read 'The Bell Curve' and believe it, the Chinese do have a higher average IQ than the Jews... Indeed, higher than any group on the planet...
Of course, 'The Bell Curve' was/is extremely controversial... Definition: it ruffled a lot of hair in an age of political correctness.
DUH!
They 'think' so..... HA!
I guess this is some type of reverse psych-op where they try to shame us into not defaulting by constantly accusing us of defaulting. LOL Hey China I got your interest payment right here, come and try to take it.
Isn'y it interesting how the US must always tip toe around China so they don't "lose face" yet they have no problem spewing this crap.
If we wanted to save face for ourselves, living within our means would have been a good start. Yes they spew a lot of crap and get their knickers twisted in a bundle over any tiny slight, so why do we put them in the power seat?
It's amazing how those fucking up can get so defensive... Reminds me of people's driving habits wherein someone fucks up you point it out to them and they get all irate like it was YOU who were at fault. US superiority shit!
Takes two to tango... Didn't Adam Smith state that countries of dissimilar economic footing shouldn't trade?
It was always a strategy of eliminating the communist govt by overrunning it with the plague that is The American Dream. As soon as the Chinese bought the transportation meme (literally the road to hell) they were fucked.
My toilet bowl think tank could have prognosticated that. Put another way, how many Chinamen does it take to flush my soothsayer turds?
Another DUMB HONKIE talking shit.
Oh Fuck You, broken record. Go pick peanuts out of your shit and leave ZH to the grown ups.
Hey sissy HONKIE mother fucker, why don't you put your little dick in your fat ugly mama's cunt, after that suck 10 black dicks. What a douche bag.
Where did I put that Bozo filter...
Inside your mama's smelly cunt.
You're a gentleman and a scholar.
If I the debtor owe you the creditor $100,00k and cant pay, then its my problem.
If I owe you 2+ Trillion and cant pay, then its YOUR problem.
He who raffs rast ...
The Chinese should be insulted and down right pissed off that we sent such a jack hole to "reassure" them that we won't rip them off. If anything that should make them feel even more unsettled.
You must have failed to notice, that we don't have anything but "jackholes" available. They make up the Federal Government.
+1 trillion
Yep, we should send Donald Trump next time.
That only a slight improvement. We should try harder than that.
Dust off pee-wee Herman and have him ride his bicycle out onstage to reassure the Chinese.
Ivanna?
they should have sent Nixon; would have gotten a better image of the situation
Dude! The term is jackwagon!
Pretty obvious to SNL, just what is goin' on!
No better way to communicate reality than through comedy... Thanks for the link!
Implies?
May be?
These people are polite.
Well there is a reason they sent Biden. Can't afford to have the locals laughing at our community organizer...
Why this infantile obsession with the Chinese and the Russians running the new recerve currency? Does anyone who writes this BS ever think about the consequences of having the world's most prolific fabricators of government statistics and the world's biggest exporter of orgiastically violent organised crime run the world's economy?
Now I know, you are all going to tell me about the Bernank, and I agree with you, but if you are telling me you'd rather live under their criminals than our criminals... now that really is a WTF!
Respectfully, it's not about what we want but what we fear will be crammed down our throats. They currently have the opportunity for a major power play but the window will close when their own economy goes too far south.
Will they make a deal with the other BRICs to become number one? "The only question is when." How about this week before Jackson Hole? They've been giving plenty of fair warning.
>Does anyone who writes this BS ever think about the consequences of having the world's most prolific fabricators of government statistics and the world's biggest exporter of orgiastically violent organised crime run the world's economy?
Wait, I'm confused, are you talking about us or them?
Sounds like you're confused about the profound difference between criminal mob enforcers and the baddest military "nation building" machine the world has ever seen.
It's all in the uniforms . . . and which end of the gun you're on.
The uniforms and the accent, maybe the hair, and the guitars
NO! We're DIFFERENT! We're MERICANS!
Falsifying the accounting is absolutely true. But who's counting?
This adminicastration has projected 5% rosey growth scenarios for years and years, along with higher and higher tax revenues.
Or Perhaps, the Chinese just found Joe Biden's priceless video loop saying: "The more we spend, the richer we are! No... really!"
Hmm, ranks right up there with Pelosi's assertion that spending FRNs on unemployment is good for the Economy!
Actually, if unemployment stopped you could rest assured that the economy would be blown to bits. It's a bribe to pay off those who have been ripped off from turning.
But clearly, spending on the banks has been infinitely smarter...
Of course it's on the way to default; where the fuck did you think it was on the way to; "a bright shiny new day"; are we supposed to believe that Tinker Belle can really fly? Tinker Belle has a steel wire on her, (his), costume that makes "stage flying" possible. Reality is a bitch. "all ur paperz is ourz and we arn't give u no cheezeburger" So, sit down and shut up.
They just figured that out? Is their think tank still using a abacus?
And do you not understand how diplomacy works?
The think tank is a proxy for what the Chinese goverment is wanting communicated. It's a way of being put on record their grevances before action is taken. It'll be much harder for the US to paint the Chinese as evil (which has always been my hypothesis as to how this will ultimately play out- the US will paint the Chinese as evil and then default, and the dumb masses in the US will buy it).
A lot of Dumb Hoinkies here.
10 print "dumb Honkie"
20 goto 10
Run
joe biden was the right man to send to china for reassurance.
he's never falsified anything, right?
Fuck all stupid HONKIES.
Keep it down. Your mother's difficult enough to bring off without you distracting me ...me ...me ...me.
Sorry, it's the echo.
Hey COCK SUCKER, I bet your fat ugly mama fucked a lot of black guys. Why don't you go home spread your shity cheeks for big black dicks. You dumb ass HONKIE SHITBAG.
lol - nigger, please... take that fake-ass shit back to Tel Aviv or to your tribal fucktard clansmen in the settlements - nobody here is stupid enough to fall for such a flagrant display of fake asshattery.
Although perhaps (putting on my tinfoil hat)....
TD are you trying to get zH to show up in Google for 'honkie'?
PS inb4 some bitch whines about the use of the word 'nigger': I can say nigger because I'm part eggplant and therefore I can't possibly ever be racist ever not ever never. Why? Shut the fuck up, that's why.
PS inb4 some bitch whines about the use of the word 'nigger': I can say nigger because I'm part eggplant and therefore I can't possibly ever be racist ever not ever never. Why? Shut the fuck up, that's why.
Um, HA!
lmao
That's kinda like the pot calling the kettle black, right?
Kinda like Jamie calling Lloyd a thief...
Kinda like Obama Bin Lyin' calling Boner a dumb ass...
At least they KNOW.
until listens to (allows) dissenting voices, then they'll get some cred.
I continue to believe that the main way that the US will deal with its excessive debt is through inflation. But the US has a great deal of short term debt that it needs to turn over fairly frequently. If inflation were to spike to say 20%, interest rates on that short term debt would quickly rise to above 20%, making it difficult for the US to get a reduction of the short debt in real terms. For example, if prices go up by 20% and the interest rate is 20%, then after one year the value of the debt (measured in purchasing power) would remain unchanged. (This neglects taxes, which is why I think that interest rates would actually become quite a bit higher than the inflation rate. But you get the idea...)
So it is very possible that the US might unilaterally extend the duration of the debt. For example, if you happen to own a 1 year treasury yielding 1% (purchased when inflation was expected to be low), the government might refuse to pay you back in dollars at the end of the year. Instead, it might force you to accept a 5 year treasury yielding 1% ( even though the current inflation rate has become 20%). So even people holding short term treasuries may not be as safe as they think.
Even with all the clear evidence that US debt is unsustainable, interest rates are currently at long term lows. I simply cannot understand what the people who are buying this debt are thinking. I wouldn't touch UST's with a ten foot pole.
Maybe no one, but Ben and his Primary Dealers, is buying...
+ 15 trillion
Extending the duration of a bond is default. Anyone care to speculate what the new US credit rating would be?
I agree with all prior posts.
Biden was sent to China to lie.
China's banking system is a lie, just like the systems in the US, Europe and Japan are.
Who here remembers "Mad Magazine".
Spy vs Spy - a Cold War cartoon.
Today, Lier vs Lier and a world bank charade.
It is all going down. Protect yourself with gold and silver.
Over and Out
US default ? By now, I think most if not all people know that US will not default. US will always be able to pay off debt own to other countries in US dollars, because we print as much as we want. If Chinese are bitching about this, tell them to go fuck themselves.
However, to guarantee the US treasury notes and bonds value will be next to impossible. If that is what Chinese are concerning, then tell them to fuck off.
Always? That's a LONG time! I don't think ANY empire has lasted this long. But, good to know. Maybe it'll also cause the sun to shine longer?
deleted
It took them this long to figure out how hosed they are? heh heh
No, it took them this long to come out with a dimplomatic statement. Something of this magnitude shouldn't be tossed out there lightly: when the US has nukes pointed at China (and it has a larger PR budget [read "propaganda budget'] than China's military budget, well, China is just wanting to let the international world know that the US is on the verge of defaulting and that it might try to hide it by drumming up some military action).
Military action? You really think it's going to come to that? I honestly don't see the US attacking China anytime soon. Too many other projects going on and all.
F*#k the Chinese. I got Chinese take-out for dinner last night and those ignorant SOB's forgot to give me the
fortune cookies.
Your fortune sucks, you DUMB HONKIE MOTHER FUCKER. LMAO!!!
Hey dumb honkie: Du le lo mo. Hum chuck. I only posted that to see how many chinese are posting on ZH.
I love all people of all nations, but I am not crazy about some of their political leaders.
God bless you. Hate is a burden we all need to shed. Love makes us stronger.
I have no problem with having an intellegent discussion about anything. But I want to give all the racist assholes a taste of their own medicine.
I'm afraid their wealth and ignorance will keep them blind to the intended effects of your actions.
Du le lo mo
Doesn't that mean go fuck your mother.
@Rick64 Did you read the Zorba The Greek's post? I didn't see you making objections to his post. So according to your biased-logic it's ok for Zorba to insult Chinese, on the other hand it's wrong for me to insult him. Hey mother fucker,take your hypocricy shove it up your stinking shity asshole.
This isn't in response to you, its just a question of what that means (du le lo mo). Insult all you want to, I really don't care. How in the hell did you interpret that as an objection to anything? I think you have a comprehension problem or a chip on your shoulder.
You are the one who has a comprehension problem. Why don't you read ZORBA'S first comment which was very insulting to Chinese. What a dumb shit you are!!
I comprehend that you haven't made any intelligent comments, and your only comments are verbally abusive ones. You seem very intent on being a distraction and obstruction to any intelligent conversation so I would assume you are wanting attention as well as venting some of your frustration which has nothing to do with any comments but rather your personal life.
Hey mother fucker,am I the only one who is making verbally abusuve comments here? I don't find you objecting to a lot of abusive racist remarks against Chinese which don't contribute anything intellegent to the blog post discussion. As far as I'm concerned,you haven't contributed anything intellegent here either. You remind me of a long-winded sissy HONKIE shitbag.
The only mystery here is why you haven't been permanently banned from posting on ZH...
Then they have to ban all the other racist cock-suckers along with me. So ZH has 2 choices; either banning all the assholes making racist comments or not censoring comments at all. Either way is fine with me.
I don't love all people, especially not the bernank and the chinese 'communists'.
You owe the bank 10k the bank owns you, you owe the bank trillions, you own the bank.
there has never been an international currency not controlled by one country. gold might be money but it is not a nation backed currency.
you can use gold coins because the currency contains the money. but GOLD BACKED currency requires someone , or some group, to own and secure the gold.
you think china russia and other countries are going to magically agree upon who gets to own the gold in order to create a new currency while the u.s. stands by and allows them to do what they want , while the u.s. still owns the largest portion of the worlds gold. ?
yea, usually when countries come together to discuss issues of gold ownership, the discussion is usually described historically as war.
"while the u.s. still owns the largest portion of the worlds gold. ?"
The US claims it owns ~ 8,100 tons
The EU claims it owns ~10,000 tons
Indian private population is estimated to own ~ 15,000 tons not counting what the Indian Gov owns...
Why don't you put your brain in gear before engaging your mouth?
Says one tyrannical regime to another . . .
The great bullshit and the banks are now holding the country hostage.
What? And China? My goodness, their commie style fudgy manipulating data feeds are comical. Their housing implosion is probably already happening won't know till the Shanghai indexes completely obliterate. Then you short the BRICS and send the AUD into hell, say 0.60 cents
So, we blame the victim? It's NOT China who owes the US.
yeah, yeah, yeah - and I'm not eatin' anymore "french" fries either cause I don't like them frenchies - - -
The Burger King crowd is really on a roll tonight - ever thought about actually analysing phenomenon like such as that addressed in this post instead of telling us what you like?
You're supposed to do the "I like" thing at the drive up window at Burger King.
Have a better day tomorrow - - -
Yeah Chinese economic expert bitchez... Keep running trade surpluses and taking $$$Billions a month of the Bernank Buck toilet paper you are so fond of criticizing...
I hate to quote a bad movie but...
Who is the more foolish? The Bernank... or the Bernank that follows him...
The Banks can, should, and would default. The US, not going to happen. This is pure recockulousness.
This commentary by China means little on its own. However, it may foretell potential future action re:US debt & the lack of a comprehensive plan.
It reeks like a Three-Card Monte.
It's pointless to think about a US default in binary terms (black and white). This is an analogue situation: infinite shades of gray.
The US has already defaulted, but it's a grey (soft) default, not a sudden snap / binary default like Greece. The US has defaulted by the Fed's manipulation of TSY markets to suppress yields in conjunction with expanded relative money supply (ultimately inflationary). Anyone with a large savings account is losing purchasing power, and a large savings account is essentially what Chinese holding of US sovereign debt represents.
Many argue that QE is not inflationary as it's just an asset swap. On paper that's true, but I stress that I said "relative money supply". If the Fed swaps a bunch of shit onto its books at par then marks to fantasy, it does not change the fact that the assets have no real value. Were they to be marked to market, the Fed would have to realize an enormous loss and have a negative book. Obviously that can't happen so the Fed would simply ignore the write down which effectively means printing. The point is, those swaps cannot be sterilized meaning that they simply must end up having an inflationary effect.
These asset swaps represent what I refer to as "temporally offset money printing" due to the fact that they can never be swapped back at par (unless another spectacular bubble blows up to enable it: not going to happen). The size of the "gray" US default is therefore directly reflected by the size of the Fed's balance sheet.
The FED has to be the bag holder of last resort. Do you think they will be the "bad bank" that gets cut loose in a restructuring? The grey default is here, I hear that. But still, won't there be waterfall event or a straw that will break the camel's back, or a level of mark to fantasy that no one will stand for anymore? A CDS event would be one.
Ben will continue to print until the dollar is worthless...
Then Ben, the entire US Gov, and all MSM will claim that 'no one saw this coming'...
We will then find out if there is a plan B... which I doubt very much...
MsCreant,
Do you really believe that the Fed will be the loser of last resort? I'm not too bright at these things, but I cannot imagine that this will be the case. After all, when the deal is done and we wait outside the banks and then the FDIC for a few years, I do not believe the 'Fed' will care whether we repay ourselves or not---long gone and pleased as punch with the deal they will have done---and, they will have all the gold, if they do not already.
In other words, I have no idea, but only answered because I have a question for you:
With no 'skin' in the game. What can be expected except what we have?
Does anyone have any ideas---what do we do with all the debt? Please, no bible lessons or gold standard talk---tptb are not going to ever accept those two gems.
I'm boring myself with my constant criticism of 'them'---please help an oldman
yeah, i posted this a couple of hours ago but i was too late----shoulda stayed in the redwoods at Big Sur more than the two weeks i was there---always too late---no timepiece since 1978 thanks om
well if you remember the date 1978 you're doing OK. Since then the world has been in Thatcher-Reaganomics spiral.
So you missed nothing. Consider yourself lucky like Rip Van Winkle!
I wondered where you'd gone off to, oldman! Welcome back to the wilds of "civilization" . . .
Thanks for injecting a sense of rationality into this conversation!
"A U.S. mobilization in Asia is well underway, in faith with a spring 2001 Pentagon study called "Asia 2025," which identified China as a "persistent competitor of the United States," bent on "foreign military adventurism." Three years later, the U.S. government went public with a plan that called for a new chain of bases in Central Asia and the Middle East, in part to box in the People’s Republic. Similarly, the nuclear energy cooperation deal signed by the U.S. and India in 2008 was an obvious containment maneuver aimed at Beijing. In late March, press reports detailed a major buildup of American forces in Asia, including increased naval deployments and expansive cooperation with partner countries. Meanwhile, the Pentagon is forging ahead with a multi-year effort to transform Guam into its primary hub in the Pacific, an initiative so vast that John Pike of the Washington, D.C.-based GlobalSecurity.org has speculated that Washington wants to "run the planet from Guam and Diego Garcia by 2015."
http://mobile.salon.com/news/feature/2011/08/13/sino_us_stephen_glain/
"Washington wants to "run the planet from Guam and Diego Garcia by 2015."
...and people in hell would like some ice water...
Washington is preparing for a world war that will never come. Washington is in a world war now, economic warfare, and is totally unprepared.
I'd say Washington is winning the economic war today. They seemed to get off to a slow start though I'll give you that.
But lets really look at the score. America has been living beyong her means yes? She's been buying globally sourced goods, on debt she creates, in a currency she controls. And here we see the world STILL buying more of it.
America has traded worthless paper for 40 years worth of resources, I'd say that's a win.
Desperate win of poker player always upping the ante, reaping the pot as others shy away, then throwing it all back with interest added to win more, as he is hocked to his boots and for many generations; reputed gunslinger, 'fastest in the world', with his colt ready to smoke if anybody dares his ongoing bluff by calling it...he has nowhere to turn except to up the next ante!
Resource shortages mean war.
Options are always:
1) Conservation;
2) Sharing;
3) Theft/war.
Being the great nation of peace that it is, the US will pick option #3.
Nope, we're NOT smarter than yeast...