Latest from Jim Willie - Currency Dead End Paradoxes
ksammut
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i.e.--on one hand he states that driving down the dollar another 20-30% will not help America get back on it's financial feet. On the other hand he states that driving up the yen will increase the cost of Japanese products. I have heard the number of 80-1 on the yen as far as what Japanese industry is prepared to deal with to remain competitive.
He states that the cheaper dollar won't do any good because so much of what we can export is not exportable because of export limitations. Some is but he has no facts to support his statement. Odd that a guy who likes to write as much as he does just makes that statement and doesn't support it with facts. That would have gotten me an 'F' in college.
I want the dollar devalued by 30% so that imports rise in price by that amount. That alone will induce Americans to buy more made in America goods. I'd like to see Walmart merchandise get a little adjustment. I'd like to see Lexus and Acura go up in price 30%. Americans better get used to higher cost imports and immediately ween themselves off them.
Can you imagine what that will do to Toyota? in the U.S.
The cost of a Cadillac will look cheap when the yen is 80-1.
Keep an open mind, or get financially repressed -Zoltan Pozsar
allowing for a more competitive industrialization of American made products. Corporate
benefits must be tailored to companies that produce, assemble and employ American
workers. We are moving into a world where it will be every Nation for itself. All service
call centers must be moved back to US Soil and loopholes closed to prevent avoidance
of corporate taxes. We will have to stop being the band leader of the world and stick to
our own knitting. Only the most strategic foreign adventures will be entered into. Such will
allow us to cut military spending by 30 -4o % over a period of time while investing low cost loans
to re create our defunct American Industry.
The world as we know it, will enter several decades of
severely reduced economic activity and severe recession as the economic machine is allowed to
renew itself on a more orderly basis.Big banks will be broken up into state banks,
anti trust laws will be enforced and Glass Steagle, in all of its glory, will be reinstated. A special tax will
be placed on stock transactions as well as a cap on executive compensation. We will all be living in a
more austere and stripped down life style.
Buy American will not be just a slogan, it will become a
fundamental way of life. Remember, we have the surplus food that most Nations need. As for oil, well
that is the bitter pill to be swallowed. Strict rationing as if it were a wartime situation will ensue. That is
the price we will all have to pay for having allowed excess and rampant special interests to determine
our National Policy for the past 50 years. Tax rates on the great wealth will be restored to its previous
higher levels. Crash programs with huge investment will be made in rebuilding the nations physical structure,
place people back to work and speed the development of cheap, available , renewable sources of energy to
make this Nation self reliant.
All of the above will likely require a form of martial law, with strict enforcement of
rationing and public order . It will be a hard and difficult life style from what we have been used to, but it will allow
us to survive, endure and eventually prevail. If people wish to eat they will work. If not in private business then
in Government work projects. We must again become a Nation of builders that create things of substance and not
a Nation led by economic interests, that do not create anything of true value, but bundle, shuffle and create false
wealth, that evaporates as if it were the morning mist.
4
Camelot
<< We must again become a Nation of builders that create things of substance and not
a Nation led by economic interests, that do not create anything of true value>>
You know you just made a case for not 'investing' in PM's
I know you know that.
method, to preserve some semblance of real wealth in a world that stands on the very
edge of madness. Stacking has been used for thousands of years in times of economic
and political unrest. It will not of itself solve the greater problem, however it may solve the
immediate problem of survival for us sheeple.
Camelot
so i'm think we'll be fine on the oil or gas thing it will just cost us
to get me home.
Camelot
have a great nite bud!!!!
Camelot
Several years ago a very wise octogenerian said something to me that made me think. 'If you haven't made money in the last 20 years, you'll never make any'
Boy was he right.
A person has to be very careful in the next five years. Don't get a divorce, don't lose your job, don't have health problems or a major auto accident. I hope most saw this reversal in the economy and were able to shed their debt. But if you have liquid assets and know how to trade, you can make a good chunk in the next 5-10 years. There will be a lot of entities that will shed assets just to pay bills.
It's just the normal cycle of the economy. The sky is not falling, unless you're broke. Life will go on, it's just going to be a little more expensive than what people have been used to.