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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: orkrious who wrote (6148)1/26/2004 12:56:44 AM
From: BEEF JERKEY  Read Replies (1) of 110194
 
"However, in the scheme of issuance of debt instruments by "USA" Government, even when the total amount of debt instruments in the hands of "Japanese" Government becomes equal to the total value of real assets of "USA", "Japanese" Government can use creative accounting to book the newly issued debt instruments, which in reality do not have any intrinsic value any more, as still equivalent to gold and make the wealth of "Japan" appear to continue to grow.If "Japanese" citizens let their mercantilist government get away with this kind of deception, then this foolish scheme of the mercantilist "Japanese" Government can go on indefinetely to the joy of "USA" consumers"

I think this statement resembles where the US now stands vis a vis Asia. Right now Asia is tripping over itself to ship the USA hard goods (cars, steel etc.) in return for "net" electronic dollars with lots of zeros attached. This is occurring to the point that there is a serious theoretical imbalance between the geographical areas. Some would argue Asia is stealing the wealth of the US. But who is screwing who here? It seems unlikely that Asia will be able to convert those masses of dollars into as much real value. Spend them in the non USA world and they will quickly become worth less and less. Try to buy up significant %'s of the "real assets" of the USA in the US itself and you quickly will piss off the most powerful nation on earth as soon as as your purchases cross the threshold of "threatening". What else can Asia do but recycle it's dollars into US treasuries?

I think the US has done a masterful job of exploiting Asia. Asia gets the poverty and pollution - the US standard of living gets boosted.
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