you are a very poor student of economic history
but there is always time to brush up
in England they laughed at America in 1910
for the next 80 years they laughed no more
England was on top of the world back then, laughed at USA
the difference comes with....
WHO IS THE NATION OF SAVERS?
WHO PROVIDES CAPITAL FOR CREDIT?
WHO BECOMES THE CREDITOR NATION?
the answer in 1910 was the United States
the answer now is Asia, in particular China
IT IS ALL ABOUT WHICH NATION SAVES, WHICH IS INDEBTED
you focus too much on Japan, which will straighten out
the real key is China, ever heard of them?
Japan will emerge WHEN it fixes its banks
because its nation of 70 million people are PROLIFIC SAVERS
they financed the USTrez Debt from 1980 to 1999
then they pulled back in 2000
as China stepped forward to finance our pathetic debts
Asia has overcapacity in mfg
USA no almost no mfg at all, shipped offshore, mister
we have assembly plants, not mfg plants
and most of them are relocated to Mexico
thus, USA has no mfg to speak of
so Asia will save less during the crunch
and you think that makes us SUPERIOR???
we in the USA will be filing for bankruptcy in droves
in Q1, Q2, Q3 now approaching 400,000 personal BK's
on top of that you have corporate BK's
e.g. over 100 telecom BK's since summer 2000 alone!!!
many Asians can easily return to barefoot status
but unemployment for Americans, reverting to barefoot status, will come with quite a shock
Asia will save less, Americans will declare BK
you wear rose colored glasses
better, you wear glasses that blot out entirely one side
then there is banking
the USA has sold 60% of its gold to Asia since 1985
and thus has depleted itself of the very collateral for our $6,000,000,000,000 trez debt
this will endanger the USDollar in the upcoming correction
China now is seeing a 30-40% annual increase in US trade surplus
it rose 15% from the beginning of summer02 to beginning of autumn02
they announced intention to purchase 15-33% gold with that surplus
this summer they opened a Shanghai Gold Exchange
all across Asia the trend is now to resupply banks and central banks with gold
Asia is fast becoming gold-centric in banking and commerce
so as gold rises, dollar falls, Asian banking gains strength, and American banks weaken
just like with companies and individuals....
ASIAN BANKS WILL SAVE LESS, PUTTING IN LESS RESERVES
AS AMERICAN BANKS GO BANKRUPT
esp since they lace derivatives throughout operations
US Banks (large banks) have morphed into hedge funds, almost totally unbeknownst to retail consumers and outspoken sheeple such as yourself
as I said, you are a poor student of history
as well as economics
even as you display haughty arrogance with your "ha ha"
/ jim |
