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Where have we heard this before?

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posted on Aug, 24 2015 @ 04:07 PM
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China's devaluation of the Yuan is also leading other Asian countries to devalue their currency... for example:
Vietnam Devalues the Dong

*and yes, I chose Vietnam purely because their currency's name is ridiculously fun to talk about. Say what you want about their politics, but Ho Chi Minh isn't going to throw their Dong under the bus without a good reason. They recognize that they can't compete with a devalued Yuan in the Asian market.




posted on Aug, 24 2015 @ 05:12 PM
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a reply to: burdman30ott6

It might seem great, but it is not.
Deflation will mean economic contraction and of course as a result less government revenue.
So the deficit will grow bigger and debt to gdp will rise rapidly.
Also due to a strong dollar exporting companies will be hit which will lead to the loss of jobs.
Hence why many jobs are overseas already, labor cost in the US are simply to high.



posted on Aug, 24 2015 @ 05:21 PM
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originally posted by: burdman30ott6

Here's why that's not good. There's a huge difference between money valuation globally and domestically. The QE program creates liquidity, true, but it also devalues the Dollar.


Oh, I agree 100%, another QE would just kick the ball farther down
the road only to wreak more devastation. If their end game is to finally
abandon the Dollar as a reserve currency, that may serve them well.

Its not really a bright side at all , but the only thing we can do IF
they go that route is to use the time wisely to our advantage.


edit on 24-8-2015 by burntheships because: (no reason given)



posted on Aug, 24 2015 @ 05:25 PM
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a reply to: earthling42

Which is why I include strong national protectionist policies as "must haves" right out of the gate. Global free trade is the problem here. If you're in a system which encourages your dollar to lose value overseas while prices domestically skyrocket, then your system is intrinsically broken and not serving the nation's interests. (and by "nation's interests," I mean all 320 Million of us, not just the handfull that run in the global trade racket.)



posted on Aug, 24 2015 @ 06:08 PM
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a reply to: burdman30ott6

Broken indeed, not because of global free trade, but because of greed, corruption, deregulation of the financial markets and their AAA garbage which of course the US was quite happy to sell globally.



posted on Aug, 24 2015 @ 08:47 PM
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a reply to: burdman30ott6

It won't be the first time Obama and his regime have lied to the American People. However, I don't think there will be a long-term downturn or that the market will self-destruct. Not because I trust Obama, but because I don't want to give energy to a negative thought and use the Law of Attraction to 'make it happen'.

We will get whatever we collectively give energy to and I recommend you plan for the worst, but EXPECT the best.



posted on Aug, 24 2015 @ 09:03 PM
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a reply to: burdman30ott6

China isnt sneezing though, it's #ting explosive diarrhea on the kitchen floor after eating waaayyyy to much food for the last few years.

Honestly to me it looks like a move. Lots of leverage here.



posted on Aug, 25 2015 @ 12:59 AM
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originally posted by: burdman30ott6

originally posted by: beezzer
a reply to: burdman30ott6



We're a "One-World-Government" now, aren't we.


If you like your imaginary sovreignity, you can keep your imaginary sovreignity.

This was pretty predictable. China isn't signatory to the TPP like the rest of Asia. By devaluing the Yuan, they are effectively subverting whatever increase in domestically manufactured exports the US was planning on gaining from the TPP. Most of Asia is tied to both the Yuan and the Dollar and, with the exchange rate rapidly deteriorating, the devalued Yuan will serve as an effective import tariff against the dollar for nations that are faced with inporting US good vs China goods. They also can sell Chinese goods to Asian countries that are signatory for very low prices, and those countries can turn around and sell them at TPP agreed prices to the US, further deteriorating the intended increase in manufacturing within the US while inflating the dollar's value even more.

This is all just further proof that globalism will ultimately be the death blow to the US economy and the only solution is national protectionism.




just...inset every meme of people clapping their hands you've ever seen...right here...lol srsly though, TPP and global trade destroys our manufacturing. We import our food, oil, and goods...what then do we create, other than technology? In the last presidential elections both sides admitted we are now a service based economy, which pays low wages to over worked peons...btw service industries don't produce anything. How can you have a globally competing GDP if your country no longer produces anything? Eventually we will cease to be.



posted on Aug, 25 2015 @ 01:23 AM
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originally posted by: AnonymousMoose

originally posted by: burdman30ott6

originally posted by: beezzer
a reply to: burdman30ott6



We're a "One-World-Government" now, aren't we.


If you like your imaginary sovreignity, you can keep your imaginary sovreignity.

This was pretty predictable. China isn't signatory to the TPP like the rest of Asia. By devaluing the Yuan, they are effectively subverting whatever increase in domestically manufactured exports the US was planning on gaining from the TPP. Most of Asia is tied to both the Yuan and the Dollar and, with the exchange rate rapidly deteriorating, the devalued Yuan will serve as an effective import tariff against the dollar for nations that are faced with inporting US good vs China goods. They also can sell Chinese goods to Asian countries that are signatory for very low prices, and those countries can turn around and sell them at TPP agreed prices to the US, further deteriorating the intended increase in manufacturing within the US while inflating the dollar's value even more.

This is all just further proof that globalism will ultimately be the death blow to the US economy and the only solution is national protectionism.




just...inset every meme of people clapping their hands you've ever seen...right here...lol srsly though, TPP and global trade destroys our manufacturing. We import our food, oil, and goods...what then do we create, other than technology? In the last presidential elections both sides admitted we are now a service based economy, which pays low wages to over worked peons...btw service industries don't produce anything. How can you have a globally competing GDP if your country no longer produces anything? Eventually we will cease to be.


We import illegal aliens and illegal drugs, so the judicial system can make a larger prison out of our country...Its what we do that makes a difference



posted on Aug, 25 2015 @ 02:31 AM
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Looks like the typical "don't panic" lingo while behind the scenes they're packing their bags and running for the mountains.

Now is a good time to sell. This "correction" will go on for the coming month. Then that would be the time to buy back in and catch the bullish rise.

Hedging against inflation would be advisable too. The Fed will likely not raise interest rates now. I'm investing in some bullion while it's ridiculously low and, very likely, being artificially suppressed to bolster confidence in our fiat system. JP Morgan's recent purchase of 55m ounces of silver did not go unnoticed by my eagle eye.

I made this post here in jest but it really is a whole other angle/spin on this incoming collapse.

a reply to: burdman30ott6
The TPP hasn't been passed. What the House voted on in June was the TAP, which allows the fast-tracking of the TPP (where it's given just a "yes" or "no" vote as a whole instead of voting on all the different clauses individually), but not the TPP itself. We're not hosed just yet in that regard. Have faith.

I know this site does not condone "calling to action", but I think opposing this trade deal should be an exception, and kept on the homepage. Future of humanity is at stake here. The future of our children's children. Everyone should be harassing their representatives on a daily basis to not pass it right now.
edit on 8/25/2015 by TheLegend because: (no reason given)



posted on Aug, 25 2015 @ 09:12 AM
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originally posted by: burdman30ott6

Hmmm...
abcnews.go.com...
..."President Bush said Friday that while the current economic crisis has sent shock waves around the world, he believes steps taken by his administration have "laid the groundwork for a return to economic growth and job creation" early in the administration of President-elect Barack Obama.

"The American economy has consistently proven its strength and resilience" Bush wrote in his final economic report to the nation."...

That was in February of 2008... when the DOW was still in the 12,500 range, Bear Sterns was believed to be just struggling a bit, and Fannie Mae and Freddie Mac hadn't yet started demanding billions of tax dollars just to stay solvent. 9 months later the Dow was 5,000 points lower and losses of 350+ points a day had become "Good days" that October. America was also shedding a half a million jobs a month...

Strength and resilience of the American economy, indeed. I'm guessing that for their next trick, the White House will claim that the economy is "fundamentally strong."


Hmmm... President Barack Obama was "President Elect" in February 2008???

This was obviously not a quote from Feb. 2008, but rather sometime between November 2008 and January 2009, after the election, but before Pres. Obama took office.

Your article also states ..


The White House panel noted that "most market forecasts" suggested a recovery beginning in the second half of 2009 "that will gain momentum in 2010 and beyond."


Which is actually spot on? GDP and other indicators began to turn in the 2nd half of 2009?

Other factors to consider...

The Economic Crisis of 2007 was largely based on the Home Equity and Debt bubbles here in the USA.

This economic downturn is in China.

The average Joe in the USA isn't investing in the stock market right now, they are paying their bills.

The US economy is the strongest in the world right now.



"The first is the root of this crisis is not events happening in the United States.

No. 2, there's in the U.S. way less borrowing involved in this. It's just [an] equity bubble. It's just things moving around with stock prices. And we have seen really over and over throughout the world, if it's just an equity bubble popping it's bad for the people who own those shares that are going down, but the destroying of banks leading to credit crunch and what the economists call systemic events largely don't happen just from equity bubbles. You've gotta have a lot of borrowing for that to happen.

"Then, I'd say the other thing is that the economy has been going modestly well for a long, steady period of time. We haven't been in an environment of a whole lot of volatility on the real side, so hopefully that's a little better than it was in 2008."


www.npr.org...

China has issues..they have grown too quickly and over-allocated resources...steel Manufacturers are going bankrupt there, apartment buildings are vacant etc.

Russia has issues...their economy is in free-fall and is heavily dependent on oil prices and oil prices just fell again...plus they have been leaning on China to buy their oil and stuff during the economic sanctions and now China can't afford to prop Russia up anymore.

Russia will either cave to the US led sanctions to try and recover from the economic spiral or double down and start invading other countries...loot and plunder. Russia is a cornered bear right now and no one is talking about it.



Ravaged by a crash in oil prices and almost $90 billion in interventions to rescue the ruble last year, Russia’s reserves were at $358.3 billion on July 24, down almost 30 percent from last year’s peak. The central bank shifted to a free-floating exchange rate ahead of schedule in November as Putin said the country won’t “mindlessly burn up” reserves to defend its currency.

www.bloomberg.com...

edit on 25-8-2015 by Indigo5 because: (no reason given)

edit on 25-8-2015 by Indigo5 because: (no reason given)



posted on Aug, 25 2015 @ 12:15 PM
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a reply to: Indigo5

That's a good catch, obviously the date on my article was incorrect, as it claims a pedigree of Feb. 2008. HOWEVER, I just had to google it to find plenty of other examples from late 2007/early 2008...
Jan 18, 2008: iipdigital.usembassy.gov...

President Bush and Federal Reserve Chairman Ben Bernanke have emphasized to world economic markets that the U.S. economy remains fundamentally resilient and concerns about a slowdown in growth could be ameliorated by a short-term stimulus package.


Jan 8, 2008: www.washingtonpost.com...

Bush stressed that the economy has been resilient in responding to problems, an apparent rebuke to those who have predicted that the downturn in housing and financial markets will cause prolonged weakness.


Feb 13, 2008: www.reuters.com...

"The genius of our system is that it can absorb such shocks and emerge even stronger," he said.
U.S. economic growth slowed to only 0.6 percent at an annual rate in the fourth quarter of 2007. House prices have been falling, and in January the U.S. job market shrank for the first time in 53 months.


As for the recovery gaining momentum, etc... I guess it strongly depends on your personal definition of "recovery." From where I stand, we didn't recover. Wall Street recovered, after shaking out the undesirables who didn't have enough money to withstand the Great Recession, at least. Main Street didn't recover. Just look at the labor participation data from BLS:

data.bls.gov...
Does a loss of nearly 4% of our workforce appear to be a "recovery?"
This doesn't even touch on those underemployed since 2007 that count as employed by BLS even though they may only work 10 hours a week.

The economic downturn *was* in China, but we are so goddamned handcuffed to the various global market by shorsighted politically connected assholes who care more about globalizing their fortunes than nationalizing America that their downturn and their monetary policy can easily sink Wall Street right alongside Beijing.



posted on Aug, 25 2015 @ 01:58 PM
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originally posted by: burdman30ott6
a reply to: Indigo5

Does a loss of nearly 4% of our workforce appear to be a "recovery?"
This doesn't even touch on those underemployed since 2007 that count as employed by BLS even though they may only work 10 hours a week.



And yet the Labor Participation rate right now is higher than anytime ever before 1980??

See how those numbers work?

Next up...count the baby boom retirees...we have a rapidly growing elderly population...What part of that 4% drop has to do with the old getting older in the US?

Careful with the numbers...take that chart link and set the beginning date to 1950 and look at the Labor Participation trend. Then explain why we saw a bump in the 80's and 90's..

And it looks like the slide began in 1997...not 2007..

Understand what the numbers actually mean...absent some blog or political media outlet...then look at the numbers beyond the time data presented for context. General rules for charts in politics.



posted on Aug, 25 2015 @ 02:04 PM
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originally posted by: burdman30ott6
a reply to: Indigo5

The economic downturn *was* in China, but we are so goddamned handcuffed to the various global market by shorsighted politically connected assholes who care more about globalizing their fortunes than nationalizing America that their downturn and their monetary policy can easily sink Wall Street right alongside Beijing.




Wall Street can take a beating...But honestly..who the eff cares? When economists say that the recovery has mostly happened on Wall Street, they mean the top 3%..The average American is paying their bills, not investing in International stocks.

In 2007...the US BANKS stopped lending..to people and businesses.. The US Credit Market collapsed. Businesses followed..unemployment followed that,

In this scenario, Wall Street investors get their ass kicked a little because of China exposure...it is not the same as US Banks ceasing to lend any money.

Two different scenarios all together.

And BTW - I am not saying our economy is terrific right now. We are still recovering...but we are stronger, with a more solid recovery, than almost any other economy.


edit on 25-8-2015 by Indigo5 because: (no reason given)



posted on Aug, 25 2015 @ 02:09 PM
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This ww3 about to happen ______beforeitsnews/prophecy/2015/08/world-war-iii-it-is-happening-2472062.html



posted on Aug, 25 2015 @ 03:11 PM
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originally posted by: Indigo5

And yet the Labor Participation rate right now is higher than anytime ever before 1980??



That's not looking at the reality of the situation, nor is it an entirely factual statement.
www.theatlantic.com...
We're the Lowest labor participation rate the US has seen since 1977.

As for reasons, well, I guess it depends on your thoughts of the structural and domestic changes the US has undergone since the 50s. If you REALLY dig into the numbers and the "whys" then this downward trend is extremely troubling.
research.stlouisfed.org...
The upward trend began in the Mid 60s and continued until approximately the 1999/2000 Dot Com bust. In the 60s, the US saw the Civil RIghts movement provide open doors to employment for minorities and the Quiet Revolution shift women from the home to the workforce. In 1970, 38% of the workforce was women, that leapt to 46% by 1990. In 1967, 38% of families saw only the husband working and 47% saw both spouses working. By 2000 that was 20% only husband and 70% both spouses.
www.mybudget360.com...

Inflation is an insidious form of money destruction. The Fed would like you to believe that there is only very little inflation going on but I would ask you to look at the costs of higher education, housing, cars, food, and healthcare and ask yourself if inflation is absent. Primarily because of this destruction of purchasing power a single-income household in 1970s was better off than a dual-income household in the 2000s:


THAT is why this is a death trap economy that we're seeing. We're returning to the employment levels the country last saw when a one-income family could make it just swell. Only problem is, aside from professional level employment, few can make it on a single income anymore because the system has shifted to squeeze the most possible out of the majority two-income families seen in the past few decades.

Note that the average family has less discretionary income (especially considering those numbers are unadjusted) dollar to dollar AND the cost of everything has gone up thanks to inflation to the point where there is dramatically less that can be done with that discretionary spending.



posted on Aug, 25 2015 @ 03:42 PM
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a reply to: burdman30ott6

Bottom line is that the Labor Participation Rate doesn't tell us much...Or at least their are a ton of variables to account for, including an aging population naturally reducing that percentage.

More importantly, what you touched on, is the fact that despite doubling productivity per family (dual income - Both parents working)...despite the computer revolution...and the mobile computing revolution...both of which were supposed to make life easier...we find ourselves working 24/7 just to survive. We no longer have home equity as a safety net...we are living hand to mouth very precariously. This countries middle class is alive, but not by much and it's working it's ass off to stay alive.

It's not all doom and gloom, but things need to reverse course soon or the middle class will slide to far.



posted on Aug, 25 2015 @ 03:52 PM
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a reply to: Indigo5

Agreed 100% on reversing course.

I would be a lot easier to at least know whether things are good or things are truly bad regarding the workforce data if the government used some transparency in unemployment reporting. If you follow the actual math involved in it, and I wish I could find the youtube video I saw last year in which an economist gave a presentation which did exactly that, it's impossible for the US to be anywhere even remotely close to the employment numbers they infer from the reports the share. The nation hasn't created enough jobs to offset what was lost 7 years ago and account for the additional working age population - new retirees. He also laid out how to back-end the number of part time jobs which the feds now count as simply "employed" in their figures. Bottom line, it's all very sugar coated, it's just not an easy task to demonstrate by how much.



posted on Aug, 25 2015 @ 03:54 PM
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a reply to: burdman30ott6

traditional retail dead and todays manufacturing and service industry figures also dead,shipping has collapsed 60 per cent the last few weeks it will take a month or so but the can kicking is ending it will be Obamas watch



posted on Aug, 25 2015 @ 04:10 PM
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a reply to: burdman30ott6

The general trend is an upward trend, from 110 years through the depression until now, and generally on average you can guarentee a 10% return on investment yearly.

Ebbs are going to occur, yes recessions and perhaps even depressions, however the market will still increase yearly. That is what we have observed when looking at the market from the beggining until now.

Be fearful when others are greedy, and greedy when others are fearful. No the sky is not falling and infact this is a good time to buy.
edit on 25-8-2015 by TechniXcality because: (no reason given)

edit on 25-8-2015 by TechniXcality because: (no reason given)



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