Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Cogito Ergo Sum who wrote (73280)	4/20/2010 11:45:35 PM
From: Maurice Winn	2 Recommendations of 74559

Yes, BS, but those people moaning are full of BS. <It's been US folks complaining that the money is not coming back in the cases I cited.. > It's the same as them moaning "Those Chinese are stealing our jobs" as though a job is a piece of property owned by somebody who has been hired to do a similar job for a while. In fact the money does come back one way or another. The only function of money is to buy something. It's not a store of value these days so much as a means of exchange. So, when Qualcomm stacks up $10 billion in an offshore account which they earned from selling CDMA in China and Japan, it's in a bank as US$. The bank then lends that money to somebody. Those people do something with it, namely buying something. The money goes on rolling around because that's all it can do. Each time it passes through an American's hands it is taxed. It doesn't spend too long traveling around the world before the ticket is clipped yet again and again and again. Each time it changes hands it's clipped by one government or another. As US$, it's pretty soon passing through the USA again. 6 billion of us are working together to reduce unit costs to near zero and invent huge amounts of new things and a great deal of vastly expensive things such as Hubble, the large hadron collider, the international space station, a new asic factory, a new cyberphone technology and on and on and on. It's simply fantastically phenomenal. The money goes around and around and is clipped by each government that touches it, even if it appears to just sit in a big heap in a Qualcomm, GE or Exxon foreign bank account. Mqurice

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