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Something that crossed my mind recently.......
September 13, 2008
6:47 pm
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truthBtold
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I dunno. For some reason, in watching TV commercials in general lately, - I suddenly asked myself - is there really anyone left to buy these products anymore, given the state of the US economy?

I know alot of folks are getting laid off, struggling with foreclosures, paying for gas, basically just trying to make ends meet.

How kind of absurd these commercials are starting to appear to me now.

Just something I thought I would share.......

September 13, 2008
7:23 pm
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WizardofAus
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May be they should try dubbing these advertisements in Chinese or Hindi.

The winds of change are blowing but the disastrous impact of your current praying president may be a long time passing. And now they have found another right wing barbarian up in Alaska. If she gets in, we had all better start praying.

September 13, 2008
7:46 pm
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truthBtold
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Yeah - I hear ya Wiz!

Saw recently (well - a couple of months ago - I guess) that Europe is experiencing a great demand for champagne because the chinese are ordering a bunch of it to celebrate their 'new found wealth."

Kind of flies in the face of the new-age crap about "abundance" - you know?

Maybe there ought to be some kind of new cable "radical channel" aired which does indeed show US commercials dubbed in other languages as you suggested......

Maybe even a sound-bite from that 1960's film: "Planet of The Apes" which shows (at the end - I think) the statue of liberty has fallen on the beach!

I'm thinkin' - you know what? The US is no longer the #1 power in this world anymore.

Not at this rate!!!!!!

September 13, 2008
7:47 pm
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truthBtold
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ps - are you from Australia?

(Just wondering.....)

September 13, 2008
8:11 pm
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WizardofAus
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Yes. Queensland on the Pacific coast.

September 13, 2008
8:26 pm
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truthBtold
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Ahhh.

This is very interesting to me.

I love to hear a non-US point of view.

So what would you say the aussies (from your point of view) basically think about Americans in general?

September 13, 2008
9:14 pm
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WizardofAus
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A very strong relationship was fused during World War 2 in the Pacific. Americans are admired for their can-do entrepreneurial spirit. As tourists they are sometimes perceived as a bit loud and insensitive to local sensitivities. On the other hand, Americans are often attractively generous and open in their neighbourliness.

I remember being in a shop on Christmas morning and this Aussie and an American were discussing Christmas dinner which concluded with the American saying, "Right, so you will be come for dinner about noon......By the way what did you say your name was????" lol

There is also a traditional rivalry between our populations. During the war, Aussie soldiers used to say, "The only problem with the Yanks is that they are over-paid, over-sexed and over here." But we still love ya.

George Bush is seen as a bit of a loose cannon who would benefit us all if he had a larger ration of grey matter. In my opinion the decison to bail out Freddie Mack and Fanny Mae could see the start of a global hyperinflation. How on earth can you afford all those wars and over-valued properties that if you check out their rental values are double the price that they should be. But to be fair we have a bad dose of over-priced assets and excessive personal debt over here, too.

Time to get out of debt and learn to live on less. Like I said, "The winds of change are blowing."

September 13, 2008
9:15 pm
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truthBtold
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Aus -

Don't be shy......

September 13, 2008
10:17 pm
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soofoo
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Aus,
What would happen if we had global hyperinflation?

September 13, 2008
11:04 pm
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truthBtold
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Wiz,

The thing that I learned recently about GW is how he allowed his self to be manipulated.

(maybe unbenounced to him - to this day....)

Kind of embarrassing to admit - actually.

But the fact remains is that Cheney and his top laywer guy was (is) the puppet master.

This comes from a very reliable insider.

GW is the son of a previous president.

From what I can gather - from some reports - is that - in some respects - they played GW.

In essence, GW has always been of the contention to 'forge thru via the hard way.'

Given a choice between the hard and easy way - GW was committed to the former.

Cheney and his cronies know this.

They used it to their advantage.

(They really did!!!!)

From what I understand - they were always trying to pull a fast one over him.

For example - let's say that Cheney and his top laywer wanted "B" to happen.

They would play reverse psychology on Bush.

They KNEW that Bush was always on the side of "doing what was right - (in his mind) at any cost...."

So they would play him.

They would say that "X" was about to happen - but that the "harder road" that needed to be taken (baiting GW hook, line & sinker - because that is the way that they KNEW they could count on him reacting to) was to react "B" way.

Puppet.

GW was a just puppet on a string and never knew it!

They played him.

They really played his ignorant ass!!!!!!

They really fricking did!!!!!!

I'm sure that they are laughing all the way to Haliburton by now!!!!!!!!!

September 14, 2008
3:19 pm
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WizardofAus
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Re: Hyperinflation

I am no economist but it seems to me that the only way you can rescue Fanny Mae and others from their sub-prime stupidity is by printing money, which will result in an inflation of the greenback.

There is an old maxim that goes as follows. If I owe someone a bit of money and I cannot pay them, I have a problem. If I owe someone a lot of money and I cannot pay them, they have a problem.

Given that most of the world's big deals are written up in US Dollars, what happens if it goes into an inflationary cycle. I am assuming everyone else will inflate in self defence.

It seems that in Australia, we have let asset prices like houses overinflate. If you take rentals as the true measure of a house's value then they are currently priced at about double their real value. The government cannot allow a deflation of housing prices, or everyone will owe more than their house is worth. So we let the price of butter and wages, etc, inflate up to prices equivalent to the real estate inflation. So, our central bank used to target inflation at under 3%. Suddenly we are reducing interest rates with an inflation rate heading above 5%. Our dollar has depreciated 20% in three months.

Add to this confusion the reality that China will be the largest economy by 2020 and you have an interesting brew for the economic forecasters to contemplate. The times, they are a'changing.

I am assuming it is a good time to stop speculating on rising asset prices, get out of debt and simplify our lifestyles. Life is tough without bottled water! lol

September 14, 2008
5:12 pm
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soofoo
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Aus,

Many of the concepts of economics are difficult for me to grasp. When I do get it, I usually lose it pretty quickly because it's so unnatural and contrived. It seems like myth.

I think I get hyper-inflation. But I don't get global hyper-inflation. Because it seems to me that something is only worth less, when something else is worth more. So, if the whole earth was to have hyper-inflation, what meaning would it have? Like if everyone just added a zero to their currency.

Unless it means first-world-hyper-inflation?

I know that I'm missing something here and I'm probably missing many things, it's totally embarrassing to me that I have never grasped this well, because I think of myself as an intelligent person.

September 15, 2008
2:42 am
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WizardofAus
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Yes, I think you are absolutely right, So.

In the long run, it is all about you baking bread and me making butter and we barter down at the marketplace. However, when the equilibrium of the system changes it is not always a smooth process.

I just think that the US$ is the defacto world currency and it is fighting to maintain this role in the face of challenges from the the Asian boomers.

There is ample scope in the system for problems to remain hidden. For instance, we do not yet know how much money will meed to be found to avoid a huge housing deflation which the goverment seems dedicated to avoiding. So if the home owner is not going to lose, who is?

My tip is the retirement funds. Do you know where your retirement money is right now? In Australia most of us do not know. My tip is that a fair whack will eventually turn up in dodgy bank derivatives with a high face value but a much lower written down value. What happens when the baby boomers discover that their retirements have gone the way of their house prices? More government bailouts? More printed money? More inflation.

Now at what point does China who has a heap of credit with the USA written in US$'s, say hold the bus, we are losing the buying power of the money that we loaned to you. Then what do they do? Call in their debts if they can or inflate their prices to maintain their buying power.

I do not know, but either way, it looks grim to me; a global recession or a runaway screw-your-buddy inflation.

As an absolute rank amateur, my response is to forget speculation in such a turbulent environment, get out of debt so I do not get caught in the storm and learn to live more like a Chinese peasant by giving up all these rather silly middle class essentials that we have become used to during the good times.

Just my not very learned opinion, though.

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